Posted on

K-12 Dealmaking: GoGuardian Acquires Formative Assessment Platform; Tutoring Startup Becomes Europe’s Latest Unicorn

GoGuardian, which provides a suite of classroom management and student safety solutions, has acquired Edulastic, the companies announced this week.

Edulastic describes itself as a next-generation formative online assessment platform that helps teachers quickly identify learning gaps, give students differentiated assignments to meet individual learning needs, and monitors students’ progress on the way to standards mastery.

The acquisition will advance Los Angeles-based GoGuardian’s mission to create the “ultimate learning platform,” the announcement says.

“Gauging student understanding is a vital element of effective teaching and learning. The Edulastic team has created sophisticated, data-driven solutions that provide teachers with real-time, actionable insights that support great teaching and improved outcomes,” GoGuardian co-founder and CEO Advait Shinde said in a statement. “We couldn’t be more excited to welcome the talented Edulastic team into the GoGuardian family.”

The companies estimate that the acquisition will allow their combined platform to reach one out of three K-12 students nationwide. GoGuardian already serves over 20 million students in more than 14 million schools, and Edulastic is used by more than 9 million students at more than 19,000 schools, according to the announcement.

“Since our founding, Edulastic has been on a mission to deliver insights that help teachers teach and help students learn,” Edulastic co-founder and CEO Madhu Narasa said in a statement. “GoGuardian is a natural fit that will accelerate our mission and expand our ability to serve educators, now and long into the future.”

The acquisition was led by GoGuardian and Sumeru Equity Partners, a technology-focused growth capital firm that first invested in GoGuardian in 2018. Edulastic is backed by early-stage venture capital firm Primera Capital.

Austrian tutoring startup announces investment, ‘unicorn’ status. After receiving a $244.4 million Series C investment led by DST Global, GoStudent announced it is Europe’s latest ed-tech unicorn and the highest-valued ed-tech company in Europe, according to an announcement.

The company is now valued at $1.7 billion, or €1.4 billion.

GoStudent, which is based in Vienna and provides one-to-one video-based online tutoring, also saw investments this round from SoftBank Vision Fund 2, Tencent, Dragoneer, Coatue, Left Lane Capital, and DN Capital.

The investment will be used to drive global expansion, according to the announcement. GoStudent is currently used in 15 countries, has expanded its team to more than 500 employees, and has opened 12 new offices, adding new locations in Athens, Istanbul, and Amsterdam.

The company aims to be present in over 20 countries by the end of 2021, planning to launch in Canada and Mexico this summer, and also intends to invest in branding, product development, and company acquisitions. GoStudent will also double its team to over 1,000 employees this year, the company said.

GoStudent grows by a rate of approximately 30 percent month-over-month, according to the announcement.

“At the heart of GoStudent is our mission to build the No. 1 Global School,” GoStudent co-founder and CEO Felix Ohswald said in a statement. “The new investment and the resulting opportunities for continued international growth bring us one step closer to fulfilling our mission.”

Apax Digital Fund invests in Revolution Prep. Private equity firm Apax Digital Fund will invest in online tutoring platform Revolution Prep, Apax announced.

The announcement doesn’t give a specific figure, but refers to the infusion as a “growth investment” that will allow Revolution Prep to expand its offering and increase access to world-class online tutoring.

The investment will enable Revolution Prep to make professional tutors available to more students in the U.S. and beyond, the announcement says. Over 1 million families have used the service.

“The pandemic has accelerated the shift from traditional to online learning and we’re continuing to see strong demand even as society is re-opening,” Revolution Prep CEO Matt Kirchner said in a statement. Apax Digital’s “investment will support an acceleration of our key growth priorities, including scaling up the more affordable small group tutoring format and the strategic expansion into the middle school tutoring segment, supporting families earlier in their academic journeys.”

Apax Digital Fund was attracted by Revolution Prep’s “cutting-edge” technology platform, longstanding partnerships with schools, and breadth and expertise of its tutors, Marcelo Gigliani, managing partner of Apax Digital said in a statement.

Lincoln International was the exclusive financial adviser to Revolution Prep in connection with the transaction.

ETS Strategic Capital and GSV Ventures invest in Degreed. Princeton, N.J.-based ETS Strategic Capital, the venture capital arm of research and assessment organization ETS, is joining GSV Ventures to invest in Degreed, a workforce upskilling company used by about one in three Fortune 50 companies, according to an announcement.

The investment is aimed to continue to advance and grow ETS’s educational business and mission through high-growth dealmaking, the announcement says.

San Francisco-based Degreed received a $153 million Series D funding round led by Sapphire Ventures and Riverwood Capital in April.

“Our investment in Degreed will help us to continue to leverage high-growth companies who are aligned to the business and mission of ETS and grow globally as an organization,” Ralph Taylor-Smith, managing director of ETS Strategic Capital, said in a statement. “The corporate learning, workforce development and reskilling/upskilling sector is a key new business growth area for ETS.”

The announcement cites a study by Statistia showing that $82.5 billion was invested in workplace training in the U.S. in 2020.

Follow EdWeek Market Brief on Twitter @EdMarketBrief or connect with us on LinkedIn.


See also:

Posted on

What State and Local Ed Tech Directors Worry About as Schools Return to In-Person Learning

The new executive director of the organization representing the state’s ed tech directors says teachers will need myriad forms of support as their schools return more fully to face-to-face instruction.

Schedule a Tour

Join us to get access to the rest of this premium article.

Already a member? Log in.

Posted on

Big Gaps Remain in Students’ Home Internet Access, Survey Reveals

When the pandemic forced schools to close last year, every student at Chagrin Falls Exempted Village Schools in Ohio already had a device, and most had access to the internet at home. As a result, the district’s director of technology, Mike Daugherty, was cautiously optimistic that they were well prepared for remote learning.

He quickly learned that having access to the internet and having the ability for an entire family to join hours-long video conferences were two different things. In many cases, when students’ connectivity fell short, Daugherty was left to urge families to upgrade their service.

While the country moves toward connecting more households to the internet than ever before, insufficient bandwidth remains a challenge for school districts and limits what tools students can use at home. A survey of 400 districts newly released by the Consortium for School Networking, or CoSN, underscores that basic access to the internet is not the barrier in many households – it’s an inability to use bandwidth-intensive content, such as video conferencing and streaming, that many districts would like to make a part of students’ lessons.

The survey of association members, who are district IT leaders, released last month found that 94 percent of districts faced challenges with videoconferencing during remote learning. For most of those districts (66 percent) the problems were caused by insufficient bandwidth. Respondents listed slow connections and multiple users as the top technical problems they faced.

“We saw that over and over again where a family was working from home due to COVID and they’re all on a generic, basic internet connection and nobody can get anything done,” Daugherty said. “That was such a struggle for us.”

Part of the problem is that the federally recommended broadband thresholds for households don’t meet the needs of remote learning, said CoSN CEO Keith Krueger. Families may have plenty of bandwidth to stream or download content, he said, but not enough to upload. And most households have two or more students, compounding the problem.

Inequities Persist

The experience has caused digital equity to rank as a top concern among districts’ IT leaders. Nearly all the survey respondents (97 percent) said concerns about quality of students’ home access increased. And the number of districts providing off-campus services doubled compared to the year before, reaching 95 percent.

Equity will certainly be on the minds of district leaders as they decide what educational technology to use moving forward, Krueger said.

“The good news is [bandwidth is] better in schools,” he said. Yet, “from a vendor perspective, they are going to have to think more inclusively.”

Inside school buildings, districts have made huge strides toward improving internet access. According to the survey, the majority of responding districts (61 percent) met the FCC’s long-term broadband goal, set in 2014. Three years ago, fewer than a third of districts met that standard, Krueger said.

Having students back in the building will help schools in the Chagrin school district, Daugherty said, especially since the district has a relatively small IT staff that isn’t equipped to provide home support.

Prior to the pandemic, Daugherty’s department fielded around five to 10 technical problems a day, mostly from students who broke or forgot their Chromebooks. During remote learning, that jumped to around 30 to 50 per day.

But home connectivity remains a concern because some practices from the pandemic will continue, Daugherty said.

He expects that his district will continue sending devices home with students over the summer break to lessen the summer academic slide. He also expects teachers to continue to record their lessons so students can access them later as needed.

Aside from equity concerns, district technology leaders listed improving cybersecurity and student data privacy as their top technology priorities.

According to the survey, more than three-quarters of districts (77 percent) do not have a full-time employee dedicated to network security. And only half of districts require cybersecurity training for the entire staff.

Other challenges IT leaders listed during the survey were:

  • Budget constraints and lack of resources
  • Lack of access to professional development
  • Existence of silos in the district

“There has to be a passionate advocacy on the part of technology leaders to articulate what we can do better by making sure we have equity built in,” Krueger said. “Digital isn’t going away. There’s a whole lot of things we can do a lot better, even at school.”

Photo: Alpha Wireless AW3170 panel antennas deployed in a private school district network near the Dallas-Fort Worth metro area. (Credit: Business Wire via AP)

Follow EdWeek Market Brief on Twitter @EdMarketBrief or connect with us on LinkedIn.


See also:

Posted on

How New Data-Privacy Expectations Could Impact Education Companies

State laws affecting the deletion of student information and other practices can have a big impact on education companies, says Tyler Park of the Future of Privacy Forum.

Schedule a Tour

Join us to get access to the rest of this premium article.

Already a member? Log in.