The education software company secures minority equity investment to further enhance its award-winning college and career readiness program.
Toronto (PRWEB) May 7, 2020
Xello, the award-winning program that helps K-12 students prepare for college, career, and future success, today announced that the Canadian Business Growth Fund (CBGF) has made a minority equity investment in the company.
Co-founders Matt McQuillen and Jeff Harris formed Xello in 1995, and for the past 25 years they’ve steadily grown the company’s reputation and footprint in K-12 school districts across Canada, the United States and the United Kingdom, without ever taking outside funding. “We believe CBGF will be able to provide us with the capital, guidance and expertise to help us execute our growth plans as our first institutional investor,” McQuillen said.
Today, Xello supports over 9 million students and educators with a modern web-based platform that truly engages students in building the skills, knowledge, and plans needed for post-secondary success.
“Helping students prepare for the future is hard. To do it well, it’s essential that we provide them with tools and experiences that they find engaging,”McQuillen said. “With Xello, we’ve reimagined how students prepare for the future so that regardless of background, ability, or pathway, all can be successful. Our inclusive approach has helped some of the largest and most diverse school districts in North America achieve triple digit increases in student engagement. We’re raising the bar when it comes to the student experience because it’s the linchpin for ensuring children do the work required for long-term success.”
The investment by CBGF will help fuel Xello’s growth and continuing enhancements to its assessments, original content, integrated course planner, college application tools, forthcoming parent portal, and work-based learning initiatives.
“We are proud to announce our partnership with Matt McQuillen, Jeff Harris and the Xello team,” said George Rossolatos, CEO of the Canadian Business Growth Fund. “We have built an excellent relationship with Matt and Jeff since we first met a year ago and believe that, with our shared vision and alignment on values, CBGF can support them on their path to continued growth. We are thrilled they have chosen CBGF as their capital partner.”
Finding the right partner was paramount, according to Harris. “Taking on investment is never something you go into lightly, but it’s especially significant if you’ve been an organically funded company like ours,” he said. “It was really important to find the right partner. We’ve found that in CBGF. Their passion, experience, and collaborative approach align perfectly with our own company values, and we can’t wait to have their voice at the table.”
To learn more about Xello, visit https://xello.world/en/.
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 firstname.lastname@example.org. To learn more, please visit us at http://www.cbgf.com.
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.