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.