K-12 Dealmaking: Finalsite Makes Acquisition; Osmo, MasteryConnect Raise Funds
In recent dealmaking news, website and communications platform provider Finalsite acquired School Website. Also, several education companies received funding from the investment community, including Osmo and MasteryConnect.
Finalsite Acquires School Website: Finalsite, a website provider and communications platform for the education industry, has acquired School Website, a provider of content management system software to schools in the United Kingdom. Terms of the deal were not disclosed.
Following the acquisition of School Website, Finalsite will serve over 2,500 schools in more than 70 countries, with design studios, support teams, and software products from teams based in both Glastonbury, Conn. and London. It will allow the company “to better respond to the needs of its customers across many different geographies,” the company said.
“Finalsite’s acquisition of School Website creates a phenomenal company with incredibly deep experience in all components of digital communications, offering schools a comprehensive suite of premium design, consulting services and analytics, backed by our proven, industry-standard software platform,” said Jonathan Moser, Finalsite’s founder and CEO. Finalsite is a portfolio company of Bridge Growth Partners.
Osmo Raises $24 Million: Osmo, an educational gaming tool for iPads, has secured $24 million in funding from Mattel, Houghton Mifflin Harcourt, Collab+Sesame, Shea Ventures, joined by existing investors Accel, Upfront Ventures, K9 Ventures and Silicon Valley Bank.
The funding will build out Osmo’s suite of mixed-reality experiences, underlying reflective AI technology and help the company launch on its first non-iPad device, the iPhone, according to the statement. Osmo apps are designed for children ages 5-12.
Osmo is the first brand from Tangible Play, a company founded in 2013 by former Google engineers Pramod Sharma and Jerome Scholler.
MasteryConnect Raises $4.5 Million: Salt Lake City-based K-12 assessment and curriculum platform MasteryConnect has raised $4.5 million in a Series C financing round from Catamount Ventures, the Chan Zuckerberg Initiative, the Michael & Susan Dell Foundation, Pelion Ventures, and Trinity Ventures.
The funding commitment “reinforces MasteryConnect’s momentum in the K-12 industry and the meaningful impact it has on personalized learning,” the company said in a statement.
“Our 2017 roadmap strengthens our core assessment offering and provide new, in-demand features that enable teachers to more effectively measure student growth, drive performance-based assessment, and capture evidence of student learning,” said MasteryConnect CEO Mick Hewitt.
XSEED Education Closes Funding Round: Singapore-based education company XSEED has closed a Series B investment worth an undisclosed amount from Verlinvest, a Belgium-based international venture firm.
Proceeds from this round of investment will be utilized by XSEED to expand its footprint to reach 10 million children by strengthening its technology platform, international footprint, and brand in the K-8 elementary education space, the company explained.
Lighthouse Funds, a Mumbai and New York-based fund, was the first investor in XSEED in 2010. While not disclosing the exact size of the latest round, company sources confirmed it was significantly larger than its Series A of $10 million, the company said.
Peergrade Gains $300,000: Copenhagen-based ed-tech startup Peergrade has raised $300,000 in seed funding from U.K. ed-tech accelerator Emerge Education and angel investors Nordic Makers, according to TechCrunch.
Peergrade is an online software application designed to enable teachers to create peer assessment sessions, monitor student performance and create a better learning experience for students, according to the company website.
Selected Receives Seed Funding: Selected, an online matching and hiring platform for teachers and schools, has received $20,000 in a seed investment from Fullstack Academy, a Y Combinator-backed coding bootcamp, according to a statement. The investment comes from the Fullstack Fund for select alumni.
Selected is used by more than 200 schools in New York City; the company says teachers find their “best fit” schools in New York City in under two minutes using a preference matching engine, according to the company.
Be sure to check back on Marketplace K-12 for updates on mergers, acquisitions, fundraising, and other dealmaking.