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The EdTech Episode #12

Dear readers,

Since our last newsletter:

This will be our last update for 2019 - we wish you a Happy New Year and all the best for the holiday season. We look forward to writing to you again in 2020.

- Peter Sahui
Market News

Citi has released a detailed (100+ page) report into global education. Key findings include differing attitudes between older/younger respondents, and between respondents in developed/emerging markets.

Class Central has released its wrap of the MOOC sector in 2019.  The numbers highlight the extent to which MOOC providers are emphasising microcredentials and online degrees, with ClassCentral counting 800+ microcredentials and 50 degrees offered between FutureLearn, Coursera, edX, and Udacity.

During the third quarter of 2019, China's EdTech sector raised US$962M across 72 deals, according to EDU Insight data cited by JMDEdu.

Guild Education, a US company that works with employers and universities to develop employee tuition benefits, raised a US$157M Series D round, valuing the company at US$1B. General Catalyst led.

Secure Code Warrior, an Australia/Belgium-based developer of cybersecurity training,
has raised a US$48M Series B funding round. Goldman Sachs led.

Compass Education, an Australia-based developer of K-12 school management software,
has raised A$60M (about US$41M) from Advent Partners

Immersive Labs, a UK-based provider of cybersecurity education,
has raised a US$40M Series B round. Summit Partners led.

Duolingo, the US-based language learning app developer, 
has raised a US$30M series F round that values the company at US$1.5B. Capital G led.

Cybrary, a US-based provider of cybersecurity education,
has raised a US$15M Series B round. BuildGroup led.

Perlego, a UK-based textbook subscriptions service,
has raised a US$9M Series A roundDedicated VC, ADV, Charlie Songhurst, Thomas Leysen, Simon Franks, and Alex Chesterman took part.

Adda247, an India-based provider of online educational and test prep resources,
has raised a US$6M Series B round. Infoedge and Asha Impact led.

Lalilo, a France-based provider of English and French literacy products,
has raised a US$5.5M pre-series A round from Partech Partners, Citizen Capital, and Educapital.

Cuemath, an India-based provider of maths tutoring,
is raising a US$5.5M Series B2 round. Manta Ray Ventures, Capital G, and Sequoia India are taking part.

Instructure, the company behind the Canvas LMS, has agreed to a US$2B acquisition by private equity firm Thoma Bravo.

EdtechX Holdings, a US-listed special-purpose acquisition company, 
has agreed to acquire Meten Education, a China-based provider of offline and online English tutoring, for US$535M. The new entity, Meten EdTechX, will be listed on the Nasdaq. 

has acquired 3D4Medical, the Ireland-based provider of anatomy education, for US$50M.

RNL (aka Ruffalo Noel Levitz)
has acquired Quadwrangle, the developer of an alumni engagement platform.
New Funds

Impact Engine, a Chicago-based impact investor that has participated in EdTech deals, has closed its second fund at US$25M.
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