Global adtech company Renaissance announces significant growth investment from Blackstone

Renaissance, a global leader in pre-K-12 educational technology, recently announced the entry into a fixed agreement for private equity funds managed by Blackstone to make significant equity investments in the company with existing investors, including Francisco Partners and TPG’s The Rise Fund. .

According to a press statement, Blackstone will be invested in its flagship private equity vehicle and will remain a major shareholder in Francisco Partners.

Founded in 1986, Renaissance combines decades of experience in personalized instruction and analytics solutions, providing teachers and administrators with planning tools, lessons to be learned, and resources to motivate students to learn. Renaissance is one of the most recognized and trusted brands in K-12 education, serving more than 40% of US schools and more than 16 million students worldwide.

The Renaissance assessment-driven, integrated instructional ecosystem enables schools and districts to benchmark student progress; Teach, plan, and respond to student needs in real time with personalized suggestions; And supplemental student literacy and math education software solutions.

Commenting on the new investment, Renaissance CEO Chris Bauleke said,

“As technology continues to change and teachers and students are being connected in new ways, our commitment to empowering teachers, students and administrators remains unwavering.

Blackstone’s new investment will enable Renaissance to accelerate organic growth initiatives and innovation in its product suite. Based on the growth of the platform under Francisco Partners, the investment will allow the company to continue implementing a targeted acquisition strategy following the recent acquisition of a research-based infrastructure literacy program, Lalilo, earlier this year; And Nearpod, a leader in teacher-facilitated education delivery.

Eli Nagler, Blackstone’s senior managing director, said:

“Chris and the Renaissance team have done an exceptional job of creating next-generation technology platforms to meet the rapidly evolving needs of today’s classroom and beyond – where digital tools play a vital role. The business is constantly expanding as teachers take advantage of technology to provide more. “

Blackstone’s investment is a continuation of the firm’s high-confidence focus on the fast-growing education technology industry. It follows recent investments in the private equity business in Illinois, a leading software supplier to universities, and the Blackstone Growth (BXG) business in Articulate, a SaaS training and development platform for companies.

Jason Brain, partner of Francisco Partners, and Alan Nee, principal of Francisco Partners, also said in a statement.

“As a leading K-12 EdTech software platform, Renaissance is at the forefront of developing innovative solutions that provide new ways of teaching and learning in remote, hybrid and individual classes. We are thrilled to partner with Chris and him. , Have expanded their integrated platforms and product sets to meet the needs of teachers, administrators and parents. We look forward to continuing our partnership and working closely with Blackstone for further support. The Renaissance Mission. “

Goldman Sachs & Co. LLC served as chief financial advisor to Renaissance, Macquarie Capital also served as financial advisor, and Kirkland & Ellis served as legal advisor. SVB Technology Investment Banking served as Blackstone’s financial advisor and Simpson Thatcher and Bartlett LLP as legal advisors.

About the author

Author: Stephen Soluni

No longer a student, but loves to learn. Not the teacher, but take care of how the students are taught. Not an educator, but I want everyone to be educated. Not a social worker, wanting to see change. Not a reformer, but always wanting to see a better world. The author believes that only proper education can bring a better future, a better world and much more in the field of technology.

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