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In brief: Crimson Education, a platform to help students get into top universities, nabs US$5M at a US$245M valuation

New Zealandโ€™s Crimson Education, which has built a tech platform and consulting service to help students identify top schools and what they need to do in terms of academic and other activity to get in, has closed a US$5 million round of funding. With this latest investment, the company is now valued at US$245 million post-money, […]
  • New Zealandโ€™s Crimson Education, which has built a tech platform and consulting service to help students identify top schools and what they need to do in terms of academic and other activity to get in, has closed a US$5 million round of funding.
  • With this latest investment, the company is now valued at US$245 million post-money, a big jump on the US$160 million valuation Crimson had in 2016 when Tiger Global invested US$30 million.
  • This latest is a small but strategic round: The money is coming from Solborn Investment, the VC arm of the Korean holding company Solborn, and itโ€™s specifically aimed at helping Crimson build out its business in that country (Korea has a huge population of young people who are very keen to study outside the country).
  • The startup has raised US$42 million to date, and from what we understand itโ€™s quietly gearing up to raise another round to double down on another new market for the company: students in the U.S., looking for better guidance to get into schools in the U.S.
  • The leap in Crimsonโ€™s valuation is due to the startupโ€™s success, both in terms of student achievements and the business model that has been built around this.
  • The company currently works with 1,500 tutors and has had 20,000 students use its platform to date.
  • There have been more than 60 offers to Crimson students for places at Ivy League schools; a further 160+ to Oxford, Cambridge and other competitive schools; and more than 500 successful applications to the top 50 universities in the U.S.

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