The year 2016 ends with a handful of deals including Frontline Education’s acquisition of eSPED.com; in addition, BYJU’s, an India-based ed-tech startup, received $15 million from the World Bank’s investment arm.
Frontline Education Acquires eSPED.com: Frontline Education has acquired eSPED.com, Inc., a provider of SaaS solutions for educators, administrators, and parents of children with personalized educational needs.
This marks the fifth acquisition of 2016 for Frontline Education, and the third acquisition in the special education and interventions market, the company noted in a statement.
“We understand the unique challenges of efficiently managing programs and processes for children with personalized education needs,” said Tim Clifford, CEO of Frontline Education. ”This acquisition allows us to extend that support to more districts, educators and parents who need it.”
BYJU’s Receives $15 Million from World Bank Investment Arm: Bengalaru, India-based ed-tech startup BYJU’s has received a $15 million investment from the International Finance Corporation (IFC), the investment arm of the World Bank, according to press reports.
This is the third investment the educational app provider has received this year. The company raised $75 million in March; the amount was reportedly the largest ed-tech investment ever in India. Several months later, the company raised $50 million from investors including the Chan Zuckerberg Initiative. (See the EdWeek Market Brief story, “What Mark Zuckerberg’s Pivot to Personalized Learning Means for the Ed-Tech Market.”)
Explain Everything Raises $3.7 Million: Whiteboard app company Explain Everything has raised $3.7 million in a Series A2 funding round led by EBRD Venture Capital Programme, according to a statement from the company. Previous investors Credo Ventures, New Europe Ventures and RTAventures also participated in the round.
The company, which is based in Wroclaw, Poland, and New York, says on its website that the whiteboard has seen “rapid adoption in K-12 education.” The company aims to enable users—teachers, students, corporate trainers and sales professionals—to “make the most out of their mobile devices while augmenting and supporting traditional interactions through whiteboarding, screencasting, real-time collaboration, template design and sharing, and much more.”
EnglishCentral Raises $1.3 Million: EnglishCentral, a provider of online English conversation solutions, has received a $1.3 million strategic investment from Kirihara Shoten K.K., a provider of high school textbook products and services for the Japanese education market.
In addition, the companies also entered into a distribution agreement to integrate EnglishCentral’s engaging and interactive English language speaking solutions into Kirihara Shoten’s English textbooks that are used in over 400 high schools in Japan, “giving Japanese students a new way to improve their speaking proficiency,” according to a statement.
- What Mark Zuckerberg’s Pivot to Personalized Learning Means for the Ed-Tech Market
- Facebook’s Mark Zuckerberg, Laurene Powell Jobs Invest in Company Focused on ELLs
- Mark Zuckerberg, Priscilla Chan Pledge Huge Gift to Education, Public Health
Be sure to check back on Marketplace K-12 for updates on mergers, acquisitions, fundraising, and other dealmaking.