Savant Growth has recapitalized Revolution Prep, a provider of online academic tutoring and test preparation services. As part of this transaction, Savant Growth is selling its stake in Revolution Prep. No financial terms were disclosed.
SAN MATEO, Calif., Aug. 11, 2021 /PRNewswire/ — Data-driven growth equity firm Savant Growth announced today that it has finalized the recapitalization and growth financing of Revolution Prep, a leading national provider of online academic tutoring and test preparation services. As part of this transaction, Savant Growth is selling its stake in Revolution Prep, a pioneer in using technology to deliver high-quality online tutoring tailored to the needs of individual elementary, middle school, high school, and college students. The transaction represents Savant Growth’s first exit since launching in Q1 2021.
“We are proud to have worked with Revolution Prep founders Ramit Varma and Jake Neuberg to turn their innovative vision into a better model for private tutoring,” said Javier Rojas, founder and managing partner at Savant Growth. “Revolution Prep has been at the forefront of modernizing education and is positioned well to stay ahead in this industry for many years to come.”
Steady Growth, Technology Innovation Fuel Rise of Revolution Prep
Founded in 2002, Revolution Prep grew organically with relatively little need for institutional capital. The company made the right technology bets, judiciously investing its growing revenues in IT services on both the back and front ends that progressively strengthened its business model. Revolution Prep took advantage of the acceleration of videoconferencing and distance learning to deliver a higher-quality consistent service than traditional in-person tutoring to over 1 million families.
“Savant Growth has been a great partner in supporting our category-leading company and accelerating our growth to take advantage of market opportunities,” said Varma. “They provided guidance, funding, and operational services to support our growth.”
The Savant Growth team identified Revolution Prep as a potential investment target using its proprietary data analytics software, now called SaleSavant, which algorithmically identifies attractive investment candidates for its portfolio.
“Revolution Prep illustrates our investment philosophy and business model. We like bootstrapped, founder-led businesses delivering high growth in large markets,” Rojas continued. “We value companies that place a great emphasis on digitizing traditional workstreams with disruptive online models. Ramit and Jake have been tenacious entrepreneurs.”
Terms of the deal were not disclosed. More information on Revolution Prep and Savant Growth can be found at www.revolutionprep.com and www.savantgrowth.com, respectively.
About Savant Growth
Savant Growth is a private equity firm that invests in bootstrapped, founder-led, B2B SaaS and tech-enabled services businesses. The firm combines 30 years of investment experience with a data-driven, entrepreneurial approach to bring together talent, companies and capital for transformational outcomes in large, high-growth markets. Savant Growth believes it provides unique operating leverage to portfolio companies with its proprietary software and services for prospect identification (SaleSavant) and engineering resources to augment development initiatives (DevSavant). The firm has approximately $500 million in capital availability, including eight active portfolio companies: Conversica, CrossBorder Solutions, experience.com, Impartner, IntelePeer, Onfleet, Spatial Networks (Fulcrum), and ThinkHR. Based in the San Francisco Bay Area, Savant Growth collaborates with Kennet Partners to manage its Kennet V U.S. investment program and connect founders seeking to expand their global market leadership. For more information, please visit www.savantgrowth.com.