Seattle-area training technological innovation firm DreamBox Mastering sold a vast majority stake to Evergreen Coast Cash Corp., a tech-focused Silicon Valley affiliate of private fairness agency Elliott Expense Management. Phrases of the deal were being not disclosed.
Established in 2006, DreamBox sells software to K-12 colleges. The company’s technological innovation adapts to particular person college students based on their solutions and how they fix difficulties. Academics and directors get obtain to analytics and reporting. The 400-man or woman company, rated No. 18 on the GeekWire 200, supports 6 million college students and 400,000 educators.
DreamBox stated its annual revenues are on goal for extra than $100 million.
“Our mission is to radically transform the way the world learns, and this partnership will propel DreamBox into the next period of development as we broaden the attain of our ideal-of-breed, twin-willpower remedy,” Jessie Woolley-Wilson, president and CEO of DreamBox, reported in a assertion.
Just after earning an MBA from Harvard and functioning on Wall Street, Woolley-Wilson switched to the training sector, serving as president of Blackboard’s K–12 Group and of LeapFrog SchoolHouse, as perfectly as holding leadership roles with the School Board and the check-prep business Kaplan. She took the helm of DreamBox in 2010.
Existing trader TPG’s The Rise Fund, a social impact VC whose traders contain Bono and Richard Branson, will keep a sizeable minority stake. It invested $130 million in DreamBox 3 yrs back.
DreamBox had beforehand raised $14.5 million in 2013 from traders which include Netflix co-CEO Netflix Reed Hastings, and elevated a $10 million Collection B round in 2015.
The organization this yr designed two acquisitions, getting reading plans Reading Moreover and Squiggle Park. It has an more place of work in Raleigh, N.C., and Winooski, Vt.
The deal is the newest in a pink-very hot marketplace for funding, private fairness buyouts, acquisitions, IPOs, SPACs, and other transactions. On GeekWire’s Pacific Northwest “Deal Tracker” we’ve recorded almost 60 acquisitions, SPACs, IPOs and personal equity buyouts so considerably this year.
DreamBox is a person of many ed-tech startups attracting attention amid the pandemic and change to remote finding out. Ed-tech startups elevated a report $2.2 billion in 2020, up nearly 30% year-over-12 months.
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