LLR Partners, a private equity firm, has invested in TrueLearn, a provider of online test preparation and data analytics to education, training and healthcare institutions.
US-based LLR Partners said that its investment, the value of which was not disclosed, will be used to “accelerate” organic growth in TrueLearn’s existing market verticals, fund expansions into new healthcare markets and bankroll acquisitions.
“TrueLearn is innovating the use of technology and data to drive better learning outcomes, and, as a result, helping to address major issues like healthcare workforce shortages and gaps in access to high-quality care,” said Steve Hodownes, senior operating advisor engaged by LLR Partners. Hodownes will join TrueLearn as chairman of its board.
Founded in 2008, TrueLearn said that it has seen demand for e-learning solutions which supplement lectures increase in recent months as education institutions adjusted to remote delivery models in response to the Covid-19 pandemic.
DC Advisory was the exclusive financial advisor to TrueLearn on its stake sale.
Headquartered in Philadelphia, Pennsylvania, LLR Partners invests in majority and minority stakes in businesses across a range of sector, with a focus on technology, healthcare and services. Founded in 1999, the firm has raised more than $3.5 billion to date across five funds.
“Empowering our doctors and healthcare providers is more important now than ever,” said Dr Joshua Courtney, chief executive of TrueLearn. “LLR’s experience growing healthcare-focused training and education businesses and its network in our sector are exciting as we plan for the future.”
Date published: 1 June 2020