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Acquisition Increases Company’s Reach to 21 Million Students and 1 Million Teachers in all 50 States and 175 Countries
SALT LAKE CITY–(BUSINESS WIRE)–June 19, 2014–
Education technology leader MasteryConnect today announced it is acquiring Cambridge, Mass.-based Socrative, a student response system that increases classroom engagement, for $5 million in cash and stock. The deal will add Socrative’s real-time classroom assessment functionality to MasteryConnect’s existing suite of cloud-based software and apps for mastery-based learning in K-12 settings.
The acquisition builds on MasteryConnect’s exponential growth, expanding the company’s reach to more than 21 million students and 1 million teachers. Currently, MasteryConnect is utilized in 85 percent of U.S. school districts across all states and in more than 175 countries.
“MasteryConnect’s vision is to provide a platform to support teachers’ efforts to identify real-time levels of student understanding, which enables them to spend more time with their students in a personalized learning environment,” said Cory Reid, CEO of MasteryConnect. “Adding Socrative helps us further this vision and give teachers and students more tools to inform the learning process and enable true mastery of concepts in the classroom.
“We’re especially thrilled to be adding the Socrative team and are delighted that they share our passion for education and belief in the teachers of America.”
Through apps for mobile and desktop devices, Socrative delivers simple technology to enable instant classroom engagement, assessment and personalization through educational exercises, games and other tools. These apps allow teachers to receive feedback from their students in real time so they can personalize instruction.
“Socrative’s extremely high user engagement and rapid growth are driven by the simple, widely accessible and relevant real-time assessment capabilities we provide. We’re extremely excited to partner with Cory and the team at MasteryConnect, whose company mission and values we align with ours perfectly. By joining together, we’ll be able to deliver fully integrated assessment solutions for schools and districts around the world,” said Ben Berte, CEO of Socrative who will become director of user engagement for MasteryConnect.
The acquisition follows several major product announcements from MasteryConnect recently, including its groundbreaking new Mastery Report Card, which provides more context and prescriptive detail than conventional report cards, and Resource Pins, which allows teachers to find and share standards-aligned resources and materials. MasteryConnect was also recently named a featured app partner with Microsoft Education.
All of Socrative’s employees will be retained in the acquisition, with all but a few remote workers relocating to MasteryConnect’s headquarters in Salt Lake City, Utah.
MasteryConnect is a market leader in curriculum, assessment and mastery learning tools for K-12. Headquartered in Salt Lake City, Utah, MasteryConnect makes it much easier for teachers to identify and track students levels of understanding against any set of standards, so they can engage more deeply with students. MasteryConnect supports teachers via its Mastery Learning Platform, as well as through their numerous apps on all Web-enabled devices. For more information, visit www.masteryconnect.com.
Socrative, based in Cambridge, Ma, was founded in 2011 to support teachers in formatively assessing their students with educational activities on all Web-enabled devices; including tablets, laptops and smartphones. Through the use of real-time questioning, instant result aggregation and visualization, teachers can better gauge the whole class’ current level of understanding. In the background, Socrative also tracks individual student performance to provide actionable data to aid students, teachers, parents, schools and districts personalize learning by highlighting strengths and areas of opportunity.
Cory Reid, 801-736-0258
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