Crimson Education, an edtech firm headquartered in Auckland, New Zealand, has raised US$39 million in a Series D funding round.

The round was led by venture capital fund Movac and included investors such as HEAL Partners, Icehouse Ventures, US News, Five Sigma, and HighSage Ventures.

This funding round values the company at over US$577.87 million.

Crimson Education is the first K-12 edtech company in Australia and New Zealand to achieve unicorn status.

The company plans to expand its educational offerings both in Singapore and internationally.