Overseas college applications have posed a challenge to high school students, especially those with financial difficulties.
In recent months, edtech companies have been growing rapidly in Southeast Asia to bridge this and other education gaps, such as tutoring, adaptive learning, and blended learning.
Amidst the COVID-19 pandemic, 58% of APAC’s prospective international students want to study overseas. However, not all of them are accepted into their preferred schools and have difficulty looking for accessible alternatives. In fact, the top four universities in Singapore have a 5% to 7% acceptance rate, making it challenging for locals and students from neighbouring countries to enter these universities.
Technology-driven education solutions can play a vital role in accelerating student application and recruitment processes virtually.
Cialfo, a Singapore-based edtech company, offers a variety of web and mobile solutions that can help prospective international students to apply directly to thousands of higher education opportunities around the world.
Recently, Cialfo announced in a tweet that it raised $40 million in a Series B funding round led by Square Peg and SEEK Investments. The funding will be used to expand its global user base, create new features, and for acquisition opportunities.
“Our mission has always been to help one million students in their journey of getting college-ready. We believe there are three pillars required — access to information, personalized assistance and financial resources — and bring all of the three together will enable the democratization of education,” said the Cialfo team in a TechCrunch report.
Other participants of the funding included returning investors SIG Global, Vulcan Capital, DLF Ventures, January Capital, and Lim Teck Lee accumulating $55 million in total funding since February 2021.
The company was founded by Rohan Pasari, Stanley Chia and William Hund in 2017. Cialfo has more than 170 employees globally and works with 1600 K-12 schools across 105 countries. Cialfo connects students with over a thousand leading universities around the world, such as the University of Pennsylvania, Imperial College London, the University of Queensland Australia, Korea University, University of Cambridge, the University of British Columbia, the University of Melbourne, Boston University, and many more that can provide quality education.
Related article: Five EdTech companies bridging education gaps in SE Asia