Leading educational materials and digital learning solutions provider McGraw Hill has received a new investment focused on transformative investments in San Francisco-based leading private equity firm Vector Capital, an established technology business, and its parent company is Platinum Equity.
The company as well as the investors did not disclose the amount of the investment.
Founded in 1888, McGraw Hill is an education science company that offers personalized learning experiences that impact students, parents, teachers and professionals. It focuses on educational equity, affordability and learning success so that students can build a better life.
McGraw-Hill provides results-oriented learning solutions to millions of students globally, distributing curated content and digital learning tools and platforms to nearly 250,000 higher education instructor classes, 13,000 pre-kindergarten to 12th-grade school districts and a variety of educational institutions, Professionals and companies. Its products are distributed in North America, Asia, Australia, Europe, the Middle East and South America and more than 100 countries and more than 80 languages.
Commenting on the latest funding, McGraw-Hill CEO Simon Lenlan said:
“We welcome Vector Capital as a co-investor in McGraw-Hill as we continue our efforts to grow the company and accelerate our digital transformation. We are making great strides in developing the world’s leading courseware and platforms for teachers and students.”
Rob Amen, managing director of Vector Capital, said in a statement:
“During the transition to the digital-first technology enterprise, we have been featuring McGraw Hill, Education Solutions for over a century. And will soon add Achieve3000 to its portfolio, enabling better outcomes for students and improved functionality for instructors. It is moving forward with its technology. “
In August of this year, McGraw-Hill announced that it had entered into a definitive agreement to acquire Achieve3000, a separate instruction for PreK-12 students in all 50 states and 49 countries in the United States, and a recognized leader in learning acceleration. The New York-based company partnered with California-based online teaching startup TutorMe in July last year to provide free on-demand tuition to college students. McGraw-Hill was originally acquired by Platinum Equity in July 2021.
According to a press statement, Sidley Austin LLP acted as legal advisor to Vector Capital on the co-investment, and Simpson Thatcher and Bartlett LLP acted as legal advisor to Platinum Equity.
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