K-12 Dealmaking: PowerSchool Acquires SRB Education Solutions; VIPKID, Matific Raise Funds

Contributing Writer

The month of August kicked off with online curriculum and services provider Edgenuity acquiring Compass Learning. Also, K-12 ed-tech provider PowerSchool today announced the acquisition of SRB Education Solutions, a Canadian provider of administration and software services.

PowerSchool Acquires SRB Education Solutions: K-12 education technology solutions provider PowerSchool has acquired SRB Education Solutions, which develops administrative and ERP solutions for K-12 school boards and districts in Ontario and throughout Canada’s provinces. Terms of the deal were not disclosed.

“Acquiring SRB adds over 2.3 million students to PowerSchool’s customer base, allowing the company to more rapidly expand on its mission of improving the K-12 education experience by empowering educators and driving student growth,” PowerSchool said in a statement.

In addition to expanding its customer base through the acquisition of SRB, PowerSchool noted the acquisition will add a number of technology assets to bolster its portfolio of solutions. New modules include applications to help schools manage human resources, payroll, finance, and libraries to provide the most comprehensive K-12 solution for schools and districts, the company said.

VIPKID Raises $100 Million: VIPKID, a Chinese platform to provide English-language lessons for children between 5 and 12 years old, has raised $100 million in a Series C round, according to TechCrunch.

Investors include Yunfeng Capital (the firm co-founded by Alibaba CEO and founder Jack Ma) and previous investor Sequoia, according to TechCrunch.

The platform connects children with native English speakers in one-on-one lessons.

Matific Raises $45 Million: Matific, an Israel-based provider of math and science games for children, has raised $45 million in a Series B funding round led by led by Australian entrepreneur and Matific co-founder Leon Kamenev, according to press reports.

Matific says it takes a unique approach to teaching K-6th grade math using hands-on and interactive mini-games, called episodes, according to the company website; the company noted these “bite-sized apps” for tablets and personal computers are based on “a modular and progressive spiral learning system.”

NewSchools Announces $7 Million in New Funding: NewSchools Venture Fund is offering up to $7 million in new funding opportunities for entrepreneurs and teams of educators, the organization said in a statement.

NewSchools finds, funds and supports teams of educators and entrepreneurs whose “bold ideas have the potential to achieve outstanding results for students,” according to NewSchools.

Intel Education Accelerator Unveils New Class of Startups: Intel Education and Intel Capital have announced the 2016 cohort of the Intel Education Accelerator, according to a statement.

This program provides selected companies with the opportunity to receive guidance and insights from technology, business, and education experts; leverage Intel’s global reach and relationships across more than 100 countries; and secure investments of up to $100,000 from Intel Capital. To view the list of companies, visit: www.intel.com/EduAccelerator.

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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