Private equity major Bain Capital’s impact investing arm has backed TeachTown, a provider of evidence-based education curriculum software for students with special needs.
TeachTown, which was founded more than a decade ago, has grown to reach more than 1,000 school district customers and serve more than 50,000 students diagnosed with autism spectrum disorders, intellectual disabilities and developmental disabilities across the US.
Bain Capital Double Impact managing director Iain Ware said, “One of our core focus areas is enabling access to educational opportunity, in particular for populations that have been historically underserved.
“School districts increasingly recognize the importance of using purpose-built solutions in special education classrooms, and TeachTown’s programs provide those solutions to help students reach their full learning potential.”
Tyton Partners advised TeachTown on the transaction.
Bain Capital more than tripled its capital under management dedicated to impact investing through an $800m fund close two months ago, the Wall Street Journal reported at the time.
The private equity house raised its debut Double Impact fund four years ago, pulling in $390m, and has collected more than twice that for Fund II accordign to the report.
Bain Capital’s Double Impact strategy sees it attempt to marry competitive financial returns with “meaningful, measurable social and environmental good”.
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