Online higher education platform Unicaf has raised series B funding from a consortium also including Goldman Sachs, EdX and CDC Group as it gears up to target more students.
Cyprus-based online higher education platform Unicaf has attracted $28m in a series B round featuring university venturing fund University Ventures, EdSurge reported yesterday.
Investment bank Goldman Sachs led the round, which was also backed by investors including online education platform EdX and CDC Group, a development finance institution owned by the UK government.
Founded in 2012, Unicaf operates an online platform for university-level education that relies on virtual tutoring and digital course materials to offer more than 70 accredited undergraduate and postgraduate programs from partner universities in Europe, the US and Africa.
The company has physical campuses and learning hubs in Zambia, Malawi, Uganda, Kenya, Ghana, Nigeria, Egypt and Somalia.
The series B capital will be used to expand Unicaf’s services with the aim of enrolling more students. University Ventures and CDC had previously joined seed-stage VC vehicle Savannah Fund for Unicaf’s $11.5m round in December 2016, according to Africa Capital Digest.
– Feature image courtesy of Kelsey Nadine.