Everest Education, Việt Nam's education startup, has raised US$4 million from foreign funds. — Photo courtesy of Everest Education
HCM CITY — Vietnamese education start-up Everest Education has raised US$4 million in a Series B round led by Hong Kong-based private equity fund Hendale Capital, according to local media.
The round was also participated in by venture capital fund Viet Capital and Singapore-based Nullabor.
Everest said the company will use this capital to develop its training centres. The firm currently has seven training centres in HCM City.
Phố Phạm, Managing Director of Viet Capital Fund was quoted by ndh.vn as saying that “Việt Nam has 17 million students from kindergarten to grade 12 and is a large market while Vietnamese people use 40 per cent of net income for education. However, there is no direct investment in high quality education."
According to Henry Lee, Executive Director Hendale Capital, Everest has potential in great contribution to the rapid education development in Việt Nam and is a pioneer in using technology to meet the most advanced learning needs.
Everest Education was founded by Tony Ngo (Harvard Business School and Stanford University) and Don Le (Stanford University) to transform education in Việt Nam by personalising learning and preparing students academically and mentally for an international education.
Everest offers maths and English enrichment courses, as well as tutoring to students from Grade 1 to Grade 12 using a blended learning approach. It also offers English, STEAM and design thinking camps. VNS