Age of Learning, creator of ABCmouse Early Learning Academy, Adventure Academy, English language learning app ABCmouse English, and My Math Academy, has announced a $300 million equity investment in a round led by TPG, with participation by Qatar Investment Authority and Madrone Capital Partners.
TPG is making the investment out of its TPG Tech Adjacencies fund, an investment vehicle focused on flexible capital solutions for the technology industry.
Los Angeles-based Age of Learning, founded in 2007, develops digital educational programmes which it claims have helped educate more than 50 million children around the world and have been used in hundreds of thousands of classrooms.
Age of Learning stated that the funds will be used for global expansion and increasing investment in new products and technologies.
Paul Candland, chief executive of Age of Learning, said: “Every child deserves a strong foundation for academic success, and we are committed to delivering on this promise for kids everywhere. We combine best practices in education, cutting-edge technology and the creativity of a major digital studio to build products that are proven by extensive research to really deliver results for children. We couldn’t be more excited to partner with TPG and their global team as we continue to unlock access to opportunity for all kids around the world.”
David Trujillo, partner at TPG and co-managing partner of TPG Tech Adjacencies, added: “Age of Learning has established itself as a leader in education technology over the last decade. Their talented team has innovated to create digital education programmes that both engage and provide effective learning solutions for children around the world. Age of Learning was built on the vision of helping children everywhere develop a love of learning, and we are excited to partner with them to accelerate that mission.”
Doug Dohring, Age of Learning’s founder and executive chairman, commented: “Since our founding more than a decade ago, Age of Learning has led with a mission to help children everywhere build a strong foundation for academic success and a lifelong love of learning, regardless of their socioeconomic backgrounds or circumstances. This funding enables us to increase our investments in bold and innovative programmes and reach even more kids and families, which is vital now more than ever.”
Goldman Sachs & Co was Age of Learning’s exclusive placement agent and Gibson, Dunn & Crutcher was the company’s legal advisor for the transaction. Weil, Gotshal & Manges was legal advisor to TPG.
Date published: 1 July 2021