K-12 Dealmaking: Activate Learning Acquires Conceptua Math; Knowbox, Enuma, Allovue Raise Funds
Activate Learning purchased Conceptua Math. Chinese homework app provider Knowbox raised $100 million in its latest funding round, while digital learning company Enuma and Allovue, a provider of budget and financial analysis tools for school districts, also raised funds.
Activate Learning Acquires Conceptua Math: Activate Learning, a Greenwich, Conn-based provider of digital and print K-14 STEM curriculum, has acquired Conceptua Math, a developer of mathematics curriculum for K-5 classrooms, for an undisclosed sum, according to a statement.
Activate said it will continue to support existing Conceptua Math customers and bring new customers on board, “offering the highest quality, classroom-tested solutions to support visual and conceptual understanding through a combination of personalized and social learning.”
“We have been searching for the right, digital, elementary mathematics solution to complement our growing product line,” said Eric Johnson, CEO of Activate Learning. “Conceptua Math is the perfect fit, completely consistent with our emphasis on rich classroom discourse and deep conceptual learning. It stands out from all other online programs.”
Arjan Khalsa, founder and CEO of Conceptua Math, said Activate supports his company’s emphasis “on combining productive discourse, hands-on manipulatives and paper-and-pencil with a visually interactive, digital program.”
“Under Activate’s leadership, we can grow and make a bigger impact on educational outcomes,” Khalsa added.
China’s Knowbox Raises $100 Million: Beijing-based startup Knowbox, provider of two education apps designed to help K-12 students and teachers manage their homework, has raised $100 million in a Series C funding round led by Yunfeng Capital, according to Chinese press reports, which noted that existing investors TAL Education Group also participated in the round.
Last year, the company raised $30 million in a Series B+ round led by Bertelsmann Asia Investments, according to reports. In 2016, Knowbox raised $15 million in a Series B round led by Chinese investor Genesis Capital.
Enuma Closes $4 Million Financing Round: Berkeley, Calif-based digital learning company Enuma has raised $4 million in a financing round led by Seoul-based impact investors YellowDog, HG Initiative and C Program. NX Venture Partners and DSC Investment also participated.
Enuma develops game-based education software aimed at helping all children—particularly those who struggle to learn due to physical, cognitive, cultural or economic constraints—learn basic reading, writing and math independently.
“Digital education for young children has demonstrated its merits and effectiveness in developed countries, and the market is beginning to mature,” said Enuma Founder and CEO Sooinn Lee. “With this investment, we will develop partnerships around the world and create a viable model to reach children who are underserved by traditional education systems.”
Hyunjoo Je, director of YellowDog, said his firm decided to invest in Enuma because “the company’s vision of creating a world where all children become independent learners resonated with us deeply.”
“I am especially pleased to invest alongside other institutions that share our philosophy of impact investing,” he continued. “Together, we will support Enuma as it continues to lead the field in creating a new model of early education.”
Allovue Raises $2 Million: Allovue, a Baltimore company that develops budget and financial analysis tools for K-12 school districts, has raised $2 million to expand product offerings related to ESSA finance regulations and grow business development and support staff, the company said in a statement.
The new funding is an extension of the company’s Series A financing round, first announced in January 2016, and brings the round’s total to $7 million. The latest funding comes from Rethink Education, Serious Change, Kapor Capital and angel investors.
“The new funding will help us to support a growing list of school districts as they contemplate new funding models to improve resource equity and ensure that dollars are aligned to district goals,” said Allovue CEO and founder Jess Gartner.
Allovue works with districts across the country to support education administrators in budgeting and managing over $6 billion in annual K-12 public education spending, the company said.
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