Investment management firm Tiger Global Management has invested $200 million in Los Angeles-based ed tech software-as-a-service provider GoGuardian, which values the company at well over $1 billion.
GoGuardian has five core products for schools: web filtering, classroom management, Chrome device management, student suicide and self-harm alerting, and network management.GoGuardian has five core products for schools: web filtering, classroom management, Chrome device management, student suicide and self-harm alerting, and network management.
GoGuardian stated that in the past year its customer base grew 60% to more than 10,000 schools, including 23 of the top 25 largest US districts, with one-in-three US K12 students now using GoGuardian technology. The raise also comes on the heels of the company’s acquisitions of Pear Deck and Edulastic.
Tiger Global’s investment gives it a significant stake in GoGuardian through partnership with Sumeru Equity Partners, which has backed the company since 2018.
Advait Shinde, co-founder and chief executive of GoGuardian, said: “Since the early days of GoGuardian, we knew there was an incredible potential to help shape how technology integrates into the educational experience and supports the invaluable work of teachers, schools, and districts. The success we’ve had to date fuels us to pursue our mission with more energy and ambition than ever before, and Tiger Global’s investment significantly expands our future impact in creating empowered and inspired learners. We are grateful for their partnership and excited for the work ahead.”
John Curtius, partner at Tiger Global, said: “We are impressed by Advait and the team and the consistently positive feedback provided by GoGuardian’s customers during our diligence process. We are excited to partner with GoGuardian, with its industry-leading product offering and best-in-class growth at scale, margins and retention characteristics, as the company cements its position as a true end-to-end SaaS platform for K12 schools.”
Sanjeet Mitra, Sumeru’s co-founder and managing director, commented: “GoGuardian reimagined the potential of digital learning and educational equity through an innovative, school-centric approach that has positively impacted millions of students. GoGuardian is just getting started on its mission to support all students in achieving their fullest potential. Sumeru congratulates the team on this amazing milestone and is excited to partner with Tiger Global to propel this mission forward.”
J.P. Morgan was exclusive placement agent to GoGuardian on the investment. Gibson, Dunn & Crutcher represented GoGuardian as legal counsel.
Date published: 5 August 2021