Beacon Education Raises $6M in Series B Funding

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Dec 07, 2020, 13:38 ET

BEIJING, Dec. 7, 2020 /PRNewswire/ -- Beacon Education, the world's largest provider of online degrees to China, has closed a $6M Series B financing round. The round was led by Redpoint China Ventures and follows last year's Series A round led by Telescope Investments.

Beacon Education intends to use the funds to accelerate expansion of its in-China technology and services platform as well as its global portfolio of partner universities.

Founded in 2018, Beacon Education is a leading education technology and services provider based in Beijing and California. Offering a comprehensive tech and service suite, the company provides its partners robust applicant marketing, acquisition, and nurturing services; a proprietary teaching and learning tech stack with synchronous and asynchronous program delivery options; and in-country academic and student support teams all optimized the connection of global educators with Chinese learners.

Beacon Education has quickly partnered with more than 15 world class universities including Tsinghua University, Duke University, the University of Pennsylvania, Illinois Institute of Technology, Rochester Institute of Technology, Northern Arizona University, and the University of Otago in New Zealand and delivers more than 25 graduate and undergraduate degrees in the fields of computer science, artificial intelligence, software engineering, electrical engineering, business, finance, and education.

Founder and CEO Michael Wang targets a rapid expansion in partners, programs, technology, and support to meet the dramatically growing comfort with and need for online degrees among working professionals across China, explaining, "we hope to continue to empower leading global universities with best-in-class technology and services, provide innovative education solutions for domestic students and professionals, and put outstanding international educational resources at their fingertips."

With extensive experience in advanced technology and education investments, Redpoint China Ventures also offers Beacon Education a wealth of knowledge and support in this expansion. Alex Zhang, Partner at Redpoint China Ventures, notes, "The digitization of higher education is a direction we are optimistic about and Beacon shows strong market demand and growth potential. We are honored to work with the Beacon Education team."

For more information about Beacon Education, visit: https://www.beaconedu.com/.

Contact: Charles Iannuzzi, 856-437-0894, [email protected]

SOURCE Beacon Education