K-12 Dealmaking: GoReact Raises $4 Million; Follett Acquires Wobo

Contributing Writer

Ed-tech companies that offer tools for students of all ages, including a video platform and a test-preparation app, received boosts from investors, while Follett has purchased a book-sourcing platform.

Follett Acquires Wobo: The education materials and technology provider has acquired Wobo, Inc. (formerly Woody’s Books, Inc.), a service for independent-managed campus stores to find and purchase books online in volume.

The acquisition includes Wobo, Inc. assets including the BookVolume tool, enabling Follett Wholesale–a standalone business–to leverage new technology, Follett said in a statement. Based in Westchester, Ill., Follett is a $2.6 billion privately held company that said it provides 70,000 schools with education technology, services and print and digital content.

Terms of the acquisition were not disclosed.

GoReact Raises $4 Million: GoReact, a developer of a video-based skills-training platform for classrooms, announced the close of a $4 million growth investment from Five Elms Capital. The capital infusion will help the Orem, Utah-based company accelerate growth and expand functionality to better serve its user base, the company said.

GoReact said its platform is currently used in more than 250 universities and 1,500 K-12 schools in eight countries around the world.

Study Tool Raises $500,000 in Funding: Memorang, a web and mobile study tool, has raised $500,000 in seed funding from angel investors including Michael Kane, an early investor in SoFi (Social Finance, a loan refinancing company), and Tom Palecek, founding partner at Summit Trail Advisors.

The San Francisco-based company said its study tool, used by students “from middle school to medical school,” aims to fill a void in education and test prep with mobile games, playlists, and premium flashcards written by experts.

Memorang said in a statement that the company plans to use the new capital to expand its technology and content offerings. The startup noted it is hiring a content team that will create expert study materials for medicine, health sciences, and new subjects such as the CPA exam, CFA exam, and TOEFL English language test.

Robotic Education Company Raises $300,000: SP Robotic Works, a provider of robotic education for school-age and college students, raised $300,000 from the Indian Angel Network and the Chennai Angels, according to press reports.

The company’s education division, Kidobotikz, raised the funding, according to SP Robotic Works’ Facebook page. Kidobotikz offers robotic education for students ages 12 to 17, the company notes on its website, adding that the curriculum includes “progressively challenging courses categorized for different age groups.”

Be sure to check back on Marketplace K-12 for updates on mergers, acquisitions, fundraising, and other dealmaking. Also see EdWeek Market Brief, a service that gives companies operating in the market insights on the needs and priorities of school officials.

 

 

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