Deals

Online education site Renaissance Learning sells for $1.1B, a month after Google Capital invests

ipad classroom students

Here’s yet another big move for online education.

Renaissance Learning, an online learning analytics and assessment company, announced today that it has sold for $1.1 billion to private equity firm Hellman & Friedman, Re/code reports.

The company made headlines last month when Google Capital invested $40 million at a valuation of $1 billion. While the funding gave Google Capital a small stake in the company, it likely expected a higher return. A Renaissance Learning rep tells Re/code that Google Capital will likely take another minority stake in the company as part of the new deal.

With schools taking advantage of more technology these days — Chromebooks and tablets, in particular — they need solutions like Renaissance Learning to make sense of all the data students generate. It’s not just about grading assignments; intelligent online learning services can unearth trends that teachers should be paying attention to.