Everest Education raises US$4M to expand its tech-based after-school learning centres in Vietnam
Vietnamese startup Everest Education has raised US$4 million in a Series B round of funding led by Hong Kong-based private equity firm Hendale Capital, alongside Viet Capital Ventures and Singapore-based family office Nullabor.
This is the Everest’s first institutional funding, with numerous existing investors also participating.
The startup will use the funds to finance growth of learning centres to increase its lead in the academic after-school segment.
Everest Education was founded by Tony Ngo (Harvard Business School and Stanford University) and Don Le (Stanford University) to empower all learners, one student and one moment at a time. With its blended learning approach, the company has developed its own classroom management software and courses to empower students to succeed in international academic environments.
Through its network of learning centres and partner schools, Everest offers Math and English enrichment courses, test prep, college admissions consulting, private tutoring, as well as camps to students from Grade 1 to Grade 12.
Everest currently operates seven learning centres in HCMC.
Henry Lee, Managing Partner at Hendale Capital, said: “Everest has the potential to make a significant impact in the rapidly expanding supplemental education space in Vietnam. Tony and Don have created a leader in the category, and Everest’s technology-enabled blended learning solution is state-of-the-art.”
Pho Pham, Managing Partner at Viet Capital Ventures, said: “Vietnam’s 17 million K-12 student population is a large market, where people spend up to 40 per cent of their disposable income on education, yet there is unequal access to high quality education. We are thrilled to back Tony, Don, Shannon and Dung, who work tirelessly to bring Everest’s academic enrichment programs to more students in Vietnam and prepare them for an increasingly competitive world.”