Permira-backed Renaissance Learning valued at $1bn after Google Capital investment


school-trip_lrgPermira-backed school learning analytics business Renaissance Learning has picked up a minority investment from Google Capital which values the company at $1bn.

The investment is the first education investment for Google Capital since it was formed last year, following deals for businesses including SurveyMonkey and Lending Club.

Permira bought Renaissance in 2011 in a take-private deal which delisted it from the Nasdaq exchange.

Reports at the time suggested Permira had bought the company at a valuation of up to $469m.

Google Capital’s Gene Frantz said, “All over the world, technology has opened new doors for students to learn both in the classroom and at home.

“For many educators, the question is not whether to embrace new technology, but how to embrace technology in a way that makes teachers’ lives easier and meaningfully boosts student achievement.

“Renaissance Learning is at the forefront of this educational movement, and their ability to use data to support effective teaching and drive student growth is unparalleled.”

Renaissance provides technology-based school improvement and student assessment programmes to almost 20 million students and teachers across the world.

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