Singapore-based university applicant software provider Cialfo has expanded a series A round co-led by quantitative trading firm Susquehanna International Group to $15m, The Business Times reported yesterday.
Vulcan Capital led the round, with January Capital, Bisk Ventures, DLF Venture, Alto Partners Multi-Family Office, Immobillari and private investors Patrick Walujo and Teik Ngan Loy also committing to the $12m extension.
Cialfo provides software that helps students use artificial intelligence to help them find and apply to suitable higher education institutions globally. Universities can use the platform to engage with prospective students and run virtual college fairs to attract applicants.
The round’s $3m first tranche was led by DLF Venture in May 2019 and included Enterprise Singapore’s Seeds Capital fund, YK Capital and assorted angel investors.
Rohan Pasari, co-founder and CEO of Cialfo, was quoted by Business Times as saying: “A standstill in global travel has upended education entirely, forcing high schools and universities to engage current and potential students virtually.
“The adoption of technology-driven education solutions is rising at an unprecedented rate and we have a key role to play in accelerating the student recruitment process from physical to virtual channels.”
