Private equity firm and technology investor Silver Lake made an investment in Imagine Learning, a provider of supplemental math, language and literacy programs, while Kirkland, Wash.-based Boom Learning named a new CEO.
Silver Lake Invests in Weld North: Private equity firm Silver Lake has made an undisclosed investment in Weld North Education, operator of a platform of digital and Software-as-a-Service (SaaS) educational solution businesses that makes control investments in high potential businesses in the education industry, according to a statement on The PE Hub Network.
As part of the announcement, preK-12 education company Imagine Learning, a division of Weld North, said it is expanding the scope of its digital instruction
“Silver Lake’s investment increases our ability to reach more students and teachers, and enhances the efficacy and breadth of the solutions we are able to deliver,” said Joe Swenson, CEO of Imagine Learning.
The investment comes several months after Silver Lake acquired a majority stake in Weld North. Other companies acquired by Silver Lake through the Weld North transaction include Edgenuity, an online K-12 learning solution, and Generation Ready which provides professional development services for educational professionals. Weld North, which was launched in 2010, acquired Imagine Learning in 2014.
“Digital technology has the potential to dramatically enhance the quality, depth, and impact of our educational system by meeting the differentiated learning needs of individual students,” said Jonathan Durham, director at Silver Lake. “We are excited to partner with the talented team at Imagine Learning to drive innovation and growth in the next chapter of their leadership in the ed-tech sector.”
Boom Learning Names Stuart Moulder As CEO: Kirkland, Wash.-based Boom Learning, a platform provider for teacher-created resources, named gaming industry leader Stuart Moulder as CEO, according to an announcement.
“Moulder brings a wealth of experience with growing companies, including launching new initiatives, developing strategic partnerships, and attracting new investment,” the company said. ”He has a proven track record of leading, growing and raising capital for companies with rapid expansion goals.”
With Moulder taking on the chief executive role, Eric Oemig will retain his position as chairman and will focus on platform development as the company’s chief technology officer. Co-founder Mary Oemig will continue as the company’s chief operations officer and general counsel, the company noted.