Singapore-based EdTech company Cialfo, which provides access to international higher education options for students globally, has today announced it has secured US$40 million in funding as part of a Series B round, led by global investment firm Square Peg, and Australian-headquartered SEEK Investments. It also saw existing investors, including SIG Global, Vulcan Capital, DLF Venture, January Capital, and Lim Teck Lee, double-down on earlier investments. This latest funding will enable Cialfo’s ability to grow its user base globally and create more unique features for high school students, counsellors, families and universities. Cialfo is a platform that aims to transform the higher education landscape by simplifying the college application process and making education accessible to all.
This latest investment brings the total raised, to date, to US$55 million, including US$15 million in Series A funding in February 2021. The investment reinforces the importance of the international higher education sector, which, according to Education Data, is expected to rise to more than 7 million students by 2030 and increase in total market value from $280 billion to $400 billion. With over 170 employees across Singapore, India, The United States and China, universities are also set to benefit from the funds which will enable Cialfo to release new product features later this year.
This funding will also help enhance Cialfo’s 360 career exploration and college application offerings in direct response to feedback from educators worldwide. Cialfo currently connects high school students, their counsellors, and families with over 1,000 colleges and has achieved trusted partner status with globally-recognized universities such as Imperial College London in the UK, The University of Chicago in the United States, and IE University in Spain.
Among the enhancements planned for 2022 is Direct Apply – a game-changing tool that allows students and counsellors to seamlessly apply, track, and send documents to hundreds of programs globally, using a single application form.
A study conducted by Gallup News Insights reveals that educational satisfaction has dropped in a number of countries in Southeast Asia. Overall, satisfaction rates in Southeast Asia fell from an average of 85% to 63%. In Thailand, satisfaction was at 90% pre-pandemic, falling to 70% post-2020. The Philippines pre-COVID-19 figure of 89%, dropped drastically by over 33%, with only 56% of Filipinos currently happy with the educational system on offer.