Edtech startup Crimson Education bags $20m in series C round

Crimson Education, a global edtech firm based in New Zealand, bagged US$20 million in a series C round led by Hong Kong-based Chow Tai Fook Education Group, which injected US$10 million into the company.

Photo credit: MaxPixel

The round also saw participation from Korea-based Solborn Investment, which contributed US$5 million to the round, and other strategic investors such as New Zealand-based K1W1, which collectively invested US$5 million.

Founded in 2013, Crimson Education aims to help students get accepted into competitive universities. It provides students access to its network of strategists, leadership mentors, and tutors to help them reach their goals through personalized strategic programs.

The company plans to use the fresh funds to add more resources to its network and expand its presence across Asia and globally. It currently operates in Auckland, Melbourne, Sydney, Bangkok, Shanghai, Singapore, Taipei, Ho Chi Minh City, Seoul, and London.

Crimson Education also plans to invest more in technology, including a student-tutor matching algorithm and an app.

“The close of our series C round brings with it the opportunity to delve into new verticals, which will leverage the expert teams and technology we have built, along with the data we have captured, and enable us to truly personalize the way high school students learn,” said Crimson chief operations officer and co-founder Sharndre Kushor.

Crimson Education also said that it has hundreds of successful students from Singapore on its platform. It claims that its branch in the city-state has seen the number of students enrolled in their programs double in the past year.

Another edtech startup with a presence in Singapore is Cialfo, which recently raised US$3 million in a series A round led by Luxembourg-based DLF Ventures.

It has partnerships with graduates from various institutions to provide mentorship to students applying to competitive colleges. Cialfo also provides counseling services to students and helps them build their profile, prepare for interviews, and acquire financial aid.