Image Source: Stanley Morales
Crimson Education has secured $67.6 million in Series D funding, announced on 4 November 2024, bringing its valuation to $1 billion. The investment, led by Movac, is a huge milestone for the company, making it the first ed-tech unicorn in Australasia.
The new funding will support the continued growth of Crimson Global Academy (CGA), which has rapidly expanded to serve 1,700 students in 60 countries.
New Investments and Innovations
Crimson Education successfully helped 294 students secure offers from Ivy League universities and posted $100 million in trailing revenue over the past year. What makes Crimson unique is largely attributed to its effective university placement services and the quality of its educational offerings.
According to CEO Jamie Beaton, the funding will allow the company to expand further and strengthen its reputation for helping students gain admission to top universities. Aside from expanding its academy, Crimson Education plans to further develop Revision Village, a study resource for IB students, and create personalised learning tools powered by AI. The company will also explore new opportunities in educational markets, including online charter schools.
David Cunliffe, former leader of the Labour Party, and Alex Robertson, chairman of Tiger Management, are the latest high-profile appointments to join the company’s leadership team.