EdTech startup Crimson Education, has completed $20M in Series C funding round. It's spearheaded by a $10M investment from Hong Kong-based Chow Tai Fook (CTF) Education Group, led by its now Vice Chairman and Executive Director of CTF Jewellery Group, Adrian Cheng.
Subscribing to Crimson Education’s vision to provide a launching pad for students seeking to enter the world’s most competitive universities, the new round of funding will fuel the company’s already globally dominant online, full-suite personalised education offerings.
“Given our dedication to continued growth across our established Asian operations including: Seoul, Jeju Island, Singapore, Taipei, Tokyo, Ho Chi Minh City, Bangkok, Shanghai and Dubai, the new round of investment aligns with both our geographic and customer service goals,” says Crimson CEO and Co-Founder, Mr. Jamie Beaton.
“Just as importantly, our new investor’s vision aligns with our focus on providing opportunity through education, based on our students’ potential, world leading university admissions goals and globally focused career ambitions.”
Crimson COO and Co-Founder, Ms. Sharndre Kushor, explains the $20M investment will allow the Crimson Education Group to intensify its presence across the education landscape in Asia and globally. This means adding to their already comprehensive resources that sees their students gain entry into the Ivy League, Oxford and Cambridge at up to 4 times the global population rate.
Through investment in technology that includes a student-tutor matching algorithm and the proprietary Crimson App, the new round of funding further enables Crimson to expand its college admission preparation services, which has already seen 1000 Crimson students gain acceptance to top 50 universities in the UK and US.
“Over the last 6 years we have scaled our consulting business to serve thousands of students across over 50 countries and in doing so, have refined our understanding of what drives exceptional all round performance for students,” said Ms. Kushor.
“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 personalise the way high school students learn. Everywhere. I am thrilled to see us take this next step towards building the leaders of tomorrow and the education system of the 22nd century.”
Since its 2013 founding in Mr. Beaton’s and Ms. Kushor’s homes in Auckland, New Zealand, Crimson has maintained and built upon its mission to create an education system that enables its students to reach their maximum potential on the global education stage. In six years, the company has helped its students secure 193 offers to the Ivy League, 59 to Oxford or Cambridge, 400+ to the UK Top 25, and $65M in financial aid and scholarships.
“The world’s most competitive universities and recruitment arms from top companies are seeking students and graduates who have taken a holistic approach to their education. While Crimson students excel in their academics, they also rise above their peers in other equally important life skills and education facets including critical thinking, community impact experience, leadership ability and a future-building global perspective,” explains Mr Beaton.