After VC investment, two Boston tech firms are opening offices in Asia
Boston Business Journal – By Sarah Castellanos
Two Boston tech firms, peerTransfer and Rethink Robotics, are opening offices in Asia this year.
PeerTransfer, a tuition payments service, announced this week it will be opening its first 1,200-square-foot office in Shanghai, China. The office will employ between 8 and 10 this year.
China is the fastest-growing and largest source of international students attending American high-education institutions, according to peerTransfer.
“With the continuing growth of the Chinese student population attending educational institutions abroad, now is the right time for peerTransfer to expand its presence here,” said Mike Massaro, CEO of peerTransfer, in a statement. “With operations in Shanghai we will be able to provide Chinese students and the educational institutions they attend abroad with all of the tools they need to make international tuition payment fast, easy and efficient."
In January, peerTransfer landed $22 million in new funding from investors including Bain Capital Ventures and Spark Capital. The company is backed by a total of $43 million in venture funding.
Rethink Robotics, a Boston-based maker of advanced manufacturing robots, is opening an office at Garage+ Incubation Center in Taipei, Taiwan. The company is actively hiring in locations throughout Asia, according to a spokeswoman.
“Garage+ was a natural choice for Rethink Robotics’ Taiwan-based staff because of its innovative atmosphere, entrepreneurial community and proximity to major Asian markets,” said Scott Eckert, president and CEO of Rethink Robotics, in a statement.
In April, Rethink officially closed its Series D funding round at $40 million. Investors include GE Ventures and Goldman Sachs, as well as Bezos Expeditions, CRV, Highland Capital Partners, Sigma Partners, Draper Fisher Jurvetson and Two Sigma Ventures.
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