K-12 Dealmaking: Artificial Intelligence Company Ponddy, Digital Ed. Platform Yogome Raise Funds

Contributing Writer

Education companies including digital learning platform Yogome and language learning company Ponddy raised funds.

Yogome Raises $26.9 Million: Digital education platform Yogome has closed a Series B, $26.9 million funding round led by Exceed Capital Partners, according to a statement on the The PE Hub Network.

Spanish fund Seaya Ventures, who led Yogome’s $6.6 million Series A round in 2017, invested in the round along with Variv Capital and Insight Venture Partners.

The Mexico and U.S.-based company said the new funding will enable Yogome to accelerate its growth into new markets and aim to enhance access to users in China, Japan, Korea, and the Philippines.

Yogome offers a portfolio of over 2,000 games, interactive books, and videos in six languages developed around nine key subjects to support the education of learners ages 4 to 10.

Ponddy Education Raises $6 Million: Ponddy, a provider of artificial intelligence-based language learning products and services, has raised $6 million in its Series A funding round, led by the Chenco Holding Company LLC. Additional investors are Osnaburge Ventures LLC and MIC Ponddy AR Fund LP.

The San Jose, Calif.-based company said it will “continue bringing to market, a new level of applying artificial intelligence (AI) to language acquisition, initially focusing on Chinese.”

“Now, that our Series A funding is complete, we will continue to advance our technology and plan to reach many more students desirous of learning Chinese, and other languages,” said Franz Chen, founder and CEO of Ponddy Education.

Learning Care Group Receives Equity Investment: Learning Care Group, a provider of early education and care for children ages 6 weeks to 12 years, has received a “significant” equity investment from the Public Sector Pension Investment Board and American Securities LLC, according to a statement. Financial terms of the transaction were not disclosed.

American Securities first partnered with Learning Care Group in 2014 and remains the controlling shareholder.

“We are pleased to be supported by PSP Investments to continue Learning Care Group’s growth trajectory,” said Kevin Penn, a managing director of American Securities. “We look forward to working with them at the board level to further develop the company’s market leadership.”

Barbara Beck, CEO of Learning Care Group, noted that this new investment and American Securities’ continued support “will enhance our ability to accelerate Learning Care Group’s multiple levers for growth in the United States.”

The Novi, Mich.-based company operates under seven brands: The Children’s Courtyard, Childtime Learning Centers, Creative Kids Learning Centers, Everbrook Academy, La Petite Academy, Montessori Unlimited, and Tutor Time Child Care/Learning Centers.

NWEA, FEV Tutor Form Partnership: Not-for-profit assessment solutions provider NWEA and FEV Tutor, a Boston-based tutoring company, have formed a partnership aimed at helping school districts use MAP Growth assessment results to personalize instruction and intervention for each student through one-on-one, live online tutoring solutions.

Through the partnership, FEV Tutor will collaborate with curriculum and instruction specialists and classroom teachers to review each student’s MAP Growth results, or RIT scores, to create a learning path specifically designed to meet each student’s individual needs with standards aligned lessons that will help close learning gaps, according to a statement.

“The learning challenges and learning aptitudes of each child are unique, so tailoring instruction is the most effective way to overcome the former and cultivate the latter,” said Chris Minnich, CEO of NWEA. “We are confident that by using MAP Growth results to guide FEV Tutor’s instruction, students will experience greater achievement and learning rewards.”

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

Leave a Reply

Your email address will not be published. Required fields are marked *