Pre-K12 software-as-a-service and learning analytics company Renaissance Learning has acquired Nearpod, an ed tech platform for K12 teachers providing more than 15,000 interactive lessons, videos, and activities.
Renaissance Learning will reportedly pay $650 million for Nearpod.
Renaissance chief executive Chris Bauleke said: “In the past year, seismic shifts have changed education as we know it. With the rise of Covid-19, this shift crossed a crucial threshold and created a demand for the ed tech industry to provide solutions that don’t supplement or replace the teacher, but instead, pave the way for a new way to teach and learn. The combination of Renaissance and Nearpod will empower teachers to drive the full learner experience with a deep set of real-time data, content, and tools to accelerate learning and growth for all students.”
Pep Carrera, chief executive of Nearpod, added: “Connecting Renaissance’s deep insights of over 20 million students to the 1.2 million Nearpod teachers delivers on the full promise of personalising learning across remote, hybrid, and in-person classrooms.”
UBS Investment Bank was financial advisor to Nearpod in this transaction.
In April 2019, Nearpod acquired Flocabulary, a learning platform that claims to promote literacy through hip-hop videos.
Renaissance Learning, which is backed by private equity house Francisco Partners, is based in Wisconsin Rapids, Wisconsin; Nearpod is headquartered in Miami, Florida.
The acquisition of Nearpod is Renaissance’s fifth ed tech acquisition since 2018 and will provide Renaissance with a further foothold in remote learning.
Date published: 1 March 2021