Xello Secures Follow-On Investment Round from Canadian Business Growth Fund

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K-12 education software company secures additional funding to continue scaling and strengthening its college and career readiness initiatives

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“We are fortunate to have CBGF as an investor in Xello. This additional funding will help us increase top line growth and fully recognize our goal to help make every student, regardless of background, ability, or pathway, future-ready," said Xello CEO and Co-Founder Matt McQuillen.

To support expansion of its college and career readiness initiatives, Xello, the award-winning program that helps K-12 students prepare for college, career and future success, has secured a follow-on investment round from the Canadian Business Growth Fund (CBGF). Xello received an initial minority equity investment from CBGF in May 2020.

“We are fortunate to have CBGF as an investor in Xello. This additional funding will help us increase top line growth and fully recognize our goal to help make every student, regardless of background, ability, or pathway, future-ready," said Xello CEO and Co-Founder Matt McQuillen. "The entire team at CBGF have been incredibly supportive and thoughtful partners for Xello. We’re flattered by how much they believe in our vision and can’t wait to unlock new opportunities with this investment.”

The latest round of funding will fuel Xello’s strategic growth opportunities, including investments in sales and marketing, new partnerships, and enhanced program capabilities.

“We are proud to continue to support Matt McQuillen and the Xello team who continue to execute on their growth strategy despite the challenges brought on by the pandemic. We believe that Matt McQuillen and his team will be able to accelerate their plans with this additional capital, and be positioned to accelerate their offering in a post-pandemic world,” said George Rossolatos, CEO of CBGF.

Over 9 million students and educators use Xello, and the company continues to grow. In 2020, Xello added new strategic partners, K-12 district customers, and add-on revenue streams to better support and scale its college and career readiness programs.

To learn more about Xello, please visit https://www.xello.world

About Xello

Xello is a modern K-12 college, career and future readiness program that helps students achieve a deeper understanding of themselves, explore pathways, and plan for the future. Using Xello's discovery-based model, students build knowledge, real-world skills and confidence to prepare for the rapidly evolving world of post-secondary academics and work. Xello supports multiple student pathways and helps students build essential skills. Over 9 million students and educators work with Xello in their efforts to become future-ready. Learn more at https://www.xello.world.

About Canadian Business Growth Fund

The Canadian Business Growth Fund (CBGF) provides long-term, patient, minority capital to ambitious entrepreneurs to fund growth and expansion of mid-market businesses with investments between $3 and $20 million. An evergreen investment fund with capital commitments of $545 million, CBGF is committed to long-term partnerships with the companies it invests in. As part of its mission to drive growth, CBGF connects business leaders and sector experts to help its partner businesses achieve their full potential. For companies seeking investment opportunities, please email us at contact@cbgf.com. To learn more, please visit us at http://www.cbgf.com.

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Caitlin Ledger
Xello
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