October 16, 2019: Global edtech company Crimson Education, has completed an innovation-inspired Series C funding round, spearheaded by a US $10M investment from Hong Kong-based CTF (Chow Tai Fook) Education Group.
CTF Education Group was founded in 2017 by it’s now Vice Chairman and Executive Director of Chow Tai Fook Jewellery Group and Executive Vice-chairman of New World Development Company, Adrian Cheng.
The investment, from one of Asia’s most successful businesses, is part of a total US $20M round of funding from leading venture capitalists and strategic investors and includes a US $5M investment from the Korean-based Solborn Investment.
Subscribing to Crimson Education’s bold vision to provide a launching pad for students seeking to secure 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, 24.
“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.”
In addition to CTF’s and Solborn Investment’s funding, Crimson has also secured an additional US $5M from strategic investors, including New Zealand’s K1W1 - the cumulative Series C funding a response to Crimson’s 100% year on year growth and fast growing reputation as a leader in the world-leading university admissions space. Crimson’s total funding to date sits at US $57M.
Crimson COO and Co-Founder, Ms Sharndre Kushor, 24, explains the US $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 four times the global population rate.
Just some of the cities in which the company operates include Auckland, Melbourne, Sydney, Bangkok, Shanghai, Singapore, Moscow, San Francisco, São Paulo and London.
By Alex Cork
