South African ed-tech startup iXperience has secured a US$2.5 million Series A funding round to build out its product and scale internationally.
Founded in 2013 by Aaron Fuchs and Rafi Khan, the Cape Town-based iXperience started life as a coding bootcamp and has since become an industry leader in career-focused skills training.
To date, it has over 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. The startup uses its proprietary technology platform to ensure students’ success through the learning experience.
iXperience has now raised a US$2.5 million Series A funding round from Kalon Venture Partners and Caleo Private Equity, which it will use to grow its team, continue to invest in its innovative tech platform, launch programmes across different markets, and build out its global strategic partnerships division.
“The world is changing at an exponential rate and current education systems are not keeping up,” Fuchs said. “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.”
Kalon Venture Partners chief executive officer (CEO) Clive Butkow said his firm’s investment in iXperience was strongly motivated by the exceptional quality of the entrepreneurs and an innovative technology platform that surpasses what is currently in the market.
“We are excited for the investment, not only for its potential financial returns, but also for the positive social impact that the company will have in contributing to and driving the digital educational sector,” he said.
Selwyn Blieden, joint-CEO of Caleo Private Equity, said the startup was a perfect example of the entrepreneur-led, high-growth businesses that his company liked 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,” he said.