iXperience, a South African education technology startup focused on providing new skills and real-world work experience to students, has raised $2.5 million (R35 million) in its Series A funding round.
The Cape Town-based company secured the latest funding from South African investment firms Kalon Venture Partners and Caleo Private Equity.
Founded by two Yale University graduates – Aaron Fuchs and Rafi Khan – in 2013, iXperience (iX) partners with high schools, universities, and corporate to provide progressive education programs and services that equip students with industry-focused skills. It helps students gain relevant and up-to-date skills aligned with booming industries, real-world work experience, and personalized career guidance which traditional institutions struggled to provide.
Started as a coding bootcamp, iXperience has today become an industry leader in career-focused skills training. The company claims to have about 2,500 alumni and partners with institutions and consumers alike to bridge the gap between traditional education and the skills companies require in today’s rapidly evolving workforce.
Explaining about the company, Aaron Fuchs, Co-founder & CEO of iXperience, said in a statement,
“The world is changing at an exponential rate and current education systems are not keeping up. We believe that in the next century, learning won’t just be concentrated on youth, but interwoven throughout a person’s life as they transition across careers and life priorities. Our mission is to build immersive and transformational learning experiences that close this gap and give our students the best possible life.”
In addition to its direct-to-consumer programs, iX partners with institutions to enable them to remain relevant in a changing educational and professional landscape. Most recently, it partnered with the likes of the University of Virginia, WorldStrides, and Bar Ilan University.
Commenting on the investment, Clive Butlow, CEO of Kalon Venture Partners, said,
“Kalon’s decision to invest was strongly motivated by the exceptional quality of the entrepreneurs and innovative technology platform surpassing what’s currently in the market. We are excited for the investment, not only for its potential financial returns, but also for the positive social impact the company will have in contributing to and driving the digital educational sector.”
Lauding the company, Selwyn Blieden, Joint-CEO of Caleo Private Equity, also commented,
“iXperience is a perfect example of the entrepreneur-led, high-growth business that Caleo Private Equity loves to support. The company has the leadership and market position to transform its sector and positively influence the lives of thousands of students and other educational stakeholders.”
iXperience plans to use the fresh capital to grow its team, continue to invest in its proprietary tech platform, launch programs in new markets, and build out its global strategic partnership division that is focused on working with companies, governments, and institutions on building career-readiness programs.