Heaptalk, Jakarta — Singapore’s edtech startup, Crimson, has secured an investment of US$40.2 million in a Series D funding round from venture capital fund Movac. Several investors join the round, including HEAL Partners, Icehouse Venture, US News, Five Sigma, and HighSage Ventures.
The company’s value enhances over US$595 million, cementing its place among the most significant edtech companies and positioning the startup as the first K-12-focused edtech in ANZ to achieve Unicorn status.
The investment will allow Crimson to intensify its presence across the entire student education journey, including early childhood tutoring, online high school education, leadership coaching and mentoring, university candidacy building, internships, and startup accelerator programs.
Jamie Beaton, Co-founder and CEO of Crimson Education, conveyed that the diverse network of new and returning backers from business, sport, education, and tech presents a considerable opportunity to further consolidate dominance in early education through higher education mentoring space.
He added, “Crimson’s services, programs, and software are rapidly becoming the critical infrastructure for aspirational, ambitious students, teachers, and parents in every corner of the globe.”
On the other hand, Series D will enable Crimson to fuel the growth of its registered online school, Crimson Global Academy (CGA). CGA’s flexible online classes provide a broad selection of AP courses in mathematics, science, literature, and history, enabling students from local and international schools in Singapore to enhance their academic profiles from home.
In the most recent admissions round, Crimson secured 294 offers to Ivy League universities and over 447 offers to the Ivy League + US Top 10. From its 20+ offices across five continents, Crimson has supported students from over 100 countries.
The round also coincides with the recent appointment of Arkesh Patel, a Silicon Valley executive and homegrown Kiwi, as Chief Operating Officer. Arkesh attended Westlake Boys before studying at Cambridge on the Sir Douglas Myers Scholarship, followed by Harvard Business School for his MBA. Arkesh brings over a decade of experience scaling Silicon Valley startups into multibillion-dollar businesses, notably at Lyft, where he played a crucial role in their IPO.
