Lower-middle market private equity firm Serent Capital has made a significant investment into Goleta, California-based ParentSquare, which provides a unified school-to-home engagement platform for K12.
ParentSquare was founded in 2011 by wife and husband team Anupama Vaid and Sohit Wadhwa. Its product is a communication platform that engages families across every channel, encompassing emergency communications, district announcements, attendance, forms, surveys, sign-ups and daily classroom communications. It is used by thousands of schools and millions of parents, students and staff across 44 US states.
ParentSquare stated it will use the investment to accelerate its growth plans, including introducing new products and services and expanding into additional geographical markets.
San Francisco-based Serent added it will support ParentSquare’s growth by deploying its growth team resources to help the company scale its new customer acquisition process and explore new opportunities to add solutions to the customer base and solve a broader set of pain points for schools. Serent will also help ParentSquare identify opportunities to grow via strategic partnerships and acquisitions.
ParentSquare chief executive Wadhwa said: “Serent has a solid reputation in education and technology. Serent’s investment is a reflection of the trust schools and districts have placed in us, and how we’ve grown to meet their communications needs.”
Company president Vaid added: “We started ParentSquare to help streamline communication at our children’s school through better use of technology. We are happy to be part of the Serent family, helping even more schools, educators and parents.”
Lance Fenton, partner at Serent Capital, commented: “Sohit, Anupama, and the ParentSquare team have built a transformational communication platform for K12 students, parents, and schools, and we’re honoured to be partnering with them. We have particularly been impressed by the combination of ParentSquare’s impressive growth, highly satisfied customer base, and pace of innovation, and look forward to partnering with the team to grow the company in the coming years.”
Gibson, Dunn & Crutcher was legal counsel to Serent Capital. Reicker, Pfau, Pyle & McRoy was legal counsel to ParentSquare.
ParentSquare is Serent’s tenth platform investment in the education market. Its prior investments include Education Advanced, ArbiterSports, KEV Group, and USATestprep.
Date published: 4 August 2021