Crimson Education, an 11-year-old online education platform that promises to get local kids into elite international universities, has become the latest tech sector unicorn after raising $NZ67 million ($61 million) from investors in a transaction that values the company at around $1 billion.
The round was led by New Zealand venture capital firm Movac, and attracted funding from Australia’s HEAL Partners and a number of prominent investors in the United States.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
