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The EdTech Episode #16


Dear readers,

We have published a column for EduGrowth about EdTech investment in the March quarter of 2020. While first-quarter funding was strong - driven by several very large K-12 rounds in China and India - we believe the real test will come later in the year.

In the meantime, interest in online courses offered via EdTech companies appears to be picking up. Google Trends data shows noticeable increases for the likes of Coursera, Udemy, and FutureLearn; while MOOC portal Class Central has
reported a significant increase in traffic since mid-March. 

Stay safe.

-- The Navitas Ventures Team

Market News

Class Central has documented an uptick in interest in MOOCs since March.
Company / Institution News

LearnLaunch, the Boston-based accelerator, has announced the five EdTech companies taking part in its next cohort.

EdSurge has
summarised the EdTech startups in the latest Y Combinator cohort.
Fundraising

Yuanfudao, a Chinese K-12 EdTech company, raised a US$1B Series G round that valued the company at US$7.8B. Hillhouse Capital led.

Strivr, a US provider of VR workforce training solutions,
raised a US$30M Series B round. Georgian Partners led.

Xiaomawang, a Chinese K-12 coding education company,
raised a pre-US$21M Series C round. 

Ellevation, a US provider of English learning solutions for K-12, has raised US$15.2M, according to an SEC filing.

Lessonly, a US corporate LMS provider, 
raised a US$15M Series C round. AXA Venture Partners led.

Vedantu, an Indian online tutoring company, has
raised a new, US$12.5M tranche of Series C funding. It previously raised money in February 2020.

Lido Learning, an Indian K-12 provider of online maths & science lessons, has
raised a US$10.5M Series B round. BAce Capital led. 

Preply, a Ukraine-based online marketplace for language tutoring,
raised US$10M. Hoxton Ventures led.

ViaX, a Chinese EdTech company,
raised a US$10M Series A round. TianjinVC led
M&A

Thoma Bravo, the private equity firm, has completed its acquisition of Instructure, the developer of the Canvas LMS.

Minsheng Education Group, a Chinese company, has
acquired TCL Educational Web, which owns stakes in two Chinese distance education businesses, for 420 million RMB (approx US$59M) from TCL's parent company.

Education Horizons Group has
acquired Double First, a UK-based provider of school management software.

Torch and Everwise, two workplace coaching startups, have
merged.

Hotmart has
acquired Teachable, a marketplace for teachers to sell course materials.

Forecast5 Analytics has
acquired Guide K12, which provides geovisual analytics to schools.
New Funds

No new EdTech funds have been raised since our last newsletter.
Find Navitas Ventures online at navitasventures.com.
Copyright © 2020 Navitas, All rights reserved.


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