All of a sudden, private equity can’t stop taking notice of education deals. The week after KKR’s new education platform made its first deal, Providence Equity Partners-backed Ascend Learning acquired PrepMe Adaptive Learning, the Chicago-based publisher of online courses and educational materials. PrepMe was founded by Avichal Garg and Karan Goel. Terms of the deal were not disclosed.
PrepMe Adaptive Learning Acquired by Providence Equity-Backed Ascend Learning
PrepMe today announces the sale of its adaptive learning platform and virtual classroom to Ascend Learning, a leading digital and print education company. PrepMe will continue to provide online college preparation and Coursification™ services under license from Ascend Learning.
PrepMe today announces the sale of its adaptive learning platform and virtual classroom to Ascend Learning, a leading digital and print education company. PrepMe will continue to provide online college preparation and Coursification™ services under license from Ascend Learning. Further terms of the transaction were not disclosed.
Based in Chicago, IL, PrepMe was an early innovator in the adaptive learning space creating the first adaptive learning platform that could be used by publishers to transform their content into highly engaging, personalized online courses. The platform diagnoses each student’s individual areas for improvement and then recommends specific areas for each student to work on. As students move through their course, it continually adapts to their needs. Over 100,000 students have used courses built on PrepMe’s platform and it has been deployed internationally for both core subjects and elective courses. PrepMe’s classroom environment is proven to drive student engagement and has been shown to deliver a 285% improvement in college readiness scores.
“PrepMe’s platform has a life changing impact on students around the world. We empower students with personalized online support and help guide them through their learning, while also empowering instructors to create better lesson plans and engage more effectively with students in the real world. Furthermore, the platform allows authors and editors to have analytics and data to continuously improve the quality of their pedagogy in a way never before possible,” said Karan Goel, CEO and Co-Founder of PrepMe.
East Wind acted as exclusive advisor to PrepMe in this transaction.
About PrepMe (http://www.prepme.com)
Launched in 2005 after co-founders Avichal Garg and Karan Goel won the University of Chicago’s New Venture Challenge, PrepMe launched the first adaptive online test preparation programs for the ACT and SAT quickly gaining traction both in the Consumer and School markets. PrepMe’s approach of powering high-quality curricula through its adaptive learning platform and highly engaging virtual learning environment have enabled it to become a leader in the online test preparation and course delivery space. The platform’s innovative approach to delivering personalized learning has won it numerous accolades including a Chicago Innovation Award and recognition from the SIIA as one of the leading innovators in personalized learning.
About Ascend (http://www.ascendlearning.com)
Ascend Learning is a leading provider of technology-based educational, curriculum and assessment solutions for the healthcare industry and other vocational fields. It is renowned for delivering solutions that result in higher-performing student results at a lower cost, from nursing to health and fitness training to OSHA compliance training and insurance.
Ascend Learning’s family of companies consists of Jones & Bartlett Learning, ATI Allied Health, ATI Nursing Education, Boston Reed, ClickSafety, ExamFX and the National Academy of Sports Medicine (NASM)