HarbourVest Partners, a private markets asset manager based in Boston, has acquired a significant minority stake in Finalsite, a global ed tech company.
New York technology investment firm Bridge Growth Partners will remain as Finalsite’s majority owner.
Headquartered in Glastonbury, Connecticut, and founded in 1998, Finalsite provides software-as-a-service solutions to more than 5,000 independent and public K12 schools across 100 different countries.
Finalsite says its software platform enables schools, districts and other institutions to deploy a comprehensive ‘digital campus’, providing a central hub with tools and data connections to facilitate digital communications, as well as engagement with parents, teachers, students and administrators.
Jon Moser, Finalsite founder and chief executive, said: “I founded Finalsite over two decades ago to provide schools around the world with a best-in-class marketing and communications software platform. We are all very pleased to have HarbourVest join us as an investor and appreciate their confidence in our platform.”
Ian Lane, managing director of HarbourVest Partners, added: “Over the past several years, we’ve watched Finalsite transform into the leading digital communications software provider within K12 education. Finalsite enables its customers to enhance their digital campuses and satisfy the communications needs of its constituents.
“We know Bridge Growth Partners well and respect their expertise and dedication to building strategically relevant businesses. We very much look forward to partnering with the Finalsite team to scale the company further during this exciting new chapter of growth.”
Alok Singh, chief executive of Bridge Growth Partners and chairman of Finalsite, said: “We’re excited to continue to back Finalsite with our new partner HarbourVest, whose team has an impressive track record of investing in successful software businesses in the K12 education space.
“We have great conviction that Finalsite will become an increasingly vital digital platform for K12 schools on a global basis.”
Date published: 23 October 2020