Education provider Chow Tai Fook Education Group has invested $10m to lead a $20m series C round for New Zealand-based academic services company Crimson Education, e27 has reported.
Solborn Investment, the corporate venturing arm of investment holding company Solborn, invested $5m in August this year at a $245m valuation while the remaining $5m came from investment firm K1W1.
Founded in 2013, Crimson employs experts who can help students prepare university applications. It also offers support for tuition, college sports recruitment and educational tour trips.
Hedge fund manager Tiger Global Management provided $29.5m in funding for Crimson in 2016 alongside $500,000 from Ice Angels and angel investors Jason Lenga and Guy Wallace at a $160m valuation.
Ice Angels had supplied $1.1m for the company in 2014 before investors including Tiger Global added $5m the following year.
