Cape Town-based education-technology start-up iXperience – also known as iX – has secured US$2.5-million (R35-million) in series-A funding from South African investment firms Kalon Venture Partners and Caleo Private Equity.
iXperience partners with high schools, universities and the private sector to provide “progressive education programmes and services that equip students with industry-focused skills”.
The company plans to use the funding to grow its team, continue to invest in its proprietary technology platform, launch programmes in new markets, and build its global partnerships division that is focused on working with companies, governments and institutions on building career-readiness programmes.
iXperience was founded in 2013 by two Yale University graduates – CEO Aaron Fuchs (from South Africa) and chief product officer Rafi Khan (from the US). It started as a coding bootcamp and has since become a big player in career-focused skills training.
The business has about 2 500 alumni and partners with institutions and consumers to bridge the gap between traditional education and the skills companies require.
“The world is changing at an exponential rate and current education systems are not keeping up,” Fuchs explained in a statement on Monday announcing the funding round.
“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 programmes”, iXperience works with institutions to allow them to remain relevant in a changing educational and professional landscape. — © 2021 NewsCentral Media