Battery Ventures has acquired an undisclosed stake in Learnosity, an Irish EdTech firm specializing in digital assessment tools.
| Acquirer | Battery Ventures (US, Boston) |
|---|---|
| Target | Learnosity (IE) |
| Deal value | Undisclosed |
| Type | LBO |
| Close date | May 24, 2018 |
| Announcement date | June 6, 2018 |
| Buy-side financial advisors | Bailey & Company, Axys Finance |
| Sell-side financial advisors | Atlas Technology Group, Axys Finance |
Deal mechanics
The deal was completed on May 24, 2018, and disclosed to the public on June 6, 2018. Battery Ventures purchased an undisclosed stake in Learnosity that is less than 50%. No financial details were released regarding the value of the transaction.
Strategic rationale
Battery Ventures' investment will enable Learnosity to expand its global footprint and enter new markets beyond K-12 education, including corporate learning and test preparation. The firm aims to promote innovation in the EdTech industry with advanced digital assessment technologies.
Financial context
Learnosity is a SaaS-based company that has already established itself as an industry standard for digital assessments. It serves major players such as Big Ideas Learning, Pearson, and HMH. The acquisition will support Learnosity's growth strategy by leveraging Battery Ventures' experience in scaling technology companies.
Advisors
Bailey & Company and Axys Finance advised Battery Ventures on the transaction while Atlas Technology Group and Axys Finance represented Learnosity.
Outlook
The partnership between Learnosity and Battery Ventures is expected to accelerate the company's expansion into new global markets and enhance its digital assessment offerings. With Battery’s expertise in scaling SaaS companies, Learnosity aims to solidify its position as a leading player in the EdTech industry.