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After Raising $40 Million From Google Capital, Renaissance Learning Is Sold For $1.1 Billion

The deal marks the first Google Capital portfolio company exit.

After Raising $40 Million From Google Capital, Renaissance Learning Is Sold For $1.1 Billion
[Image: Flickr user Teacher McKinley]
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A month after Google Capital, the search giant’s late-stage investment arm, injected $40 million into Renaissance Learning, the cloud-based education platform has been sold for $1.1 billion to private equity firm Hellman & Friedman. The deal marks the first exit of Google Capital’s portfolio.

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Part of what drew Google to the 30-year-old education-tech company is its wealth of data, using millions of quizzes and assessments to tailor lesson plans to students. Google Capital’s investment gave Renaissance Learning a $1 billion valuation. Hellman & Friedman, which usually holds onto its assets for four to seven years, was attracted to Renaissance Learning’s returns. Last year, the education company saw a 20% gain in revenue.

About the author

Based in San Francisco, Alice Truong is Fast Company's West Coast correspondent. She previously reported in Chicago, Washington D.C., New York and most recently Hong Kong, where she (left her heart and) worked as a reporter for the Wall Street Journal

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