Google-Backed Renaissance Learning Gets Acquired
One of the first three companies to get money from Google Capital announced today that it is being acquired. Learning analytics company Renaissance Learning will be acquired by Hellman & Friedman for $1.1 billion.
Google announced the launch of Google Capital last month. It’s the company’s investment fund for growth-stage businesses (as opposed to those just starting out, which is what Google Ventures is for). Though the fund had been investing since last year, it launched with three companies in its portfolio: SurveyMonkey, LendingClub and Renaissance Learning.
“Today there is an incredible opportunity to harness data to help teachers unlock the learning potential of their students,” said Renaissance Learning CEO Jack Lynch. “Partnering with Hellman & Friedman will give us additional tools and resources to continue building out our capabilities, broadening our market reach, and ultimately helping teachers transform education.”
“Renaissance Learning is an outstanding company that has been helping educators accelerate student learning for decades,” said Tarim Wasim, Managing Director at Hellman & Friedman. “We believe strongly in the mission and are excited to help grow Renaissance’s impact globally through continued investment in products that make a difference in the classroom.”
Google Capital is expected to remain an investor in the company.
Image via Renaissance Learning