Dublin – May 28, 2018 – Learnosity, a leading global EdTech firm, has reached an agreement for a significant investment from global, technology-focused investment firm Battery Ventures. Battery General Partner Russell Fleischer will join the Learnosity board of directors as part of the transaction.
Founded in 2007, Learnosity is a software-as-a-service (SaaS) company specializing in digital learning technology. Learnosity allows organizations from a wide range of sectors to easily incorporate powerful assessment capabilities into any digital product. As a result, Learnosity’s customers can create digital-learning products faster and provide better experiences to their users.
Learnosity already powers digital assessments for many of the biggest names in education, including Big Ideas Learning, CenterPoint Learning (formerly Parcc Inc.), HMH, Mathletics, and Pearson.
Learnosity will use some of the proceeds from the new investment to target additional markets beyond K-12 education such as corporate learning, adult/vocational learning, and test preparation. In addition, Learnosity plans to continue its global expansion and explore further growth through acquisitions.
“Learnosity has achieved impressive growth as, essentially, a bootstrapped business. It’s a credit to the founders and the entire team, who have built an industry standard for digital-assessment technology,” said Battery’s Fleischer. “With this investment, Learnosity can further promote innovation in the EdTech industry with its world-class technology, and create better educational products for students around the world.”
“We are a firm with global ambitions and a massive market. We could not be more excited to be partnering with Battery, a firm we believe will add significant value during our next phase of growth,” said Gavin Cooney, Learnosity’s co-founder and CEO. “The firm’s experience in scaling SaaS companies globally was a key factor in our decision to partner with the team there.”
The investment from Battery represents another significant milestone in Learnosity’s growth. Atlas Technology Group acted as exclusive financial advisor to Learnosity as it evaluated strategic alternatives leading up to the transaction.
Learnosity is the leading global provider of SaaS-based tools for authoring, delivering, and analyzing digital assessments. Its B2B customers include education publishers and learning management system providers serving K-12, higher-education, adult/vocational, and corporate learning markets. Learnosity is headquartered in Dublin, Ireland with a significant R&D team in Sydney, Australia and US offices in New York and Los Angeles.
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at http://www.battery.com.