K-12 Dealmaking: Nearpod Raises $21 Million; Barnes & Noble Education Acquires MBS

Contributing Writer

In recent dealmaking news, digital learning platform Nearpod raised $21 million. Also, Barnes & Noble Education acquired MBS Textbook Exchange.

Nearpod Raises$21 Million: Nearpod, an ed-tech platform that aims to let K-12 teachers find, create, and distribute digital learning experiences, has closed $21 million in Series B funding led by Insight Venture Partners, according to a statement.

Existing investors Reach Capital, GSV Acceleration, Krillion Ventures and AGP Miami also participated in the round. Brad Twohig, Peter Segall and Nikitas Koutoupes of Insight Venture Partners will join Nearpod’s cofounders Guido Kovalskys and Felipe Sommer as well as Jennifer Carolan of Reach Capital on the company’s board of directors.

Last year, Nearpod raised $9.2 million in a Series A funding round led by Reach Capital.

Barnes & Noble Education Acquires MBS for $174.2 Million: Barnes & Noble Education, Inc., a contract operator of bookstores on college and university campuses and provider of digital education services, has acquired MBS Textbook Exchange, LLC for $174.2 million in cash, according to a statement.

MBS is a contract operator of virtual bookstores for the institutional client market and a used textbook wholesaler.

Max J. Roberts, CEO of Barnes & Noble Education, said the “combination will allow us to generate more value from the textbook marketplace through expected inventory and procurement synergies” In addition, he noted, the company increase its “addressable market to include the growing virtual bookstore market, and will now be able to offer our campus partners physical, virtual and hybrid bookstore models.”

Examity Raises $21 Million: Online proctoring company Examity has secured a $21 million investment from University Ventures, an investment firm that backs entrepreneurs and institutions reimagining the future of higher education, and Inherent Group, an impact investment firm that supports companies addressing societal challenges.

The company said in a statement that it will use the funds to expand its online proctoring platform.

Kiddom Raises $6.5 Million: Kiddom, a visual collaborative system for K-12 classrooms, has raised $6.5 million in a financing round led by Khosla Ventures investment partner Keith Rabois, who holds a seat on the board of directors.

Kiddom will use the new capital to build additional products and features to “accelerate the company’s vision of building an operating system for K-12 education,” according to a statement.

Motimatic Raises $3.4 Million: Motimatic, a startup that pairs behavioral science with advertising techniques to deliver motivational content to college students, today has secured $3.4 million in Series A funding, led by education-focused venture capital firms, University Ventures and New Markets Venture Partners, according to a statement.

GSV, the Jefferson Education Accelerator, and Mike McCaffery, former CEO of the Stanford Management Corporation, which oversees the endowment at Stanford University, also participated in the round.

NeoStencil Raises $1 Million: Ed-tech startup NeoStencil has raised $1 million in a round led by Brand Capital and California-based Paragon Trust. Brand Capital is the ad-for-equity investment arm of conglomerate, Bennett Coleman and Co., according to press reports.

Be sure to check back on Marketplace K-12 for updates on mergers, acquisitions, fundraising, and other dealmaking.

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