Home TECHNOLOGY Miami edtech startup Nearpod acquired by Renaissance

Miami edtech startup Nearpod acquired by Renaissance

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Nearpod, the Miami-based edtech firm, is being acquired by Renaissance Holding Corp., a bunch that develops training know-how. Whereas Nearpod isn’t saying the information till later this month, the knowledge leaked to Yahoo! Finance yesterday, and a supply inside the corporate confirmed the sale with TechCrunch this morning. The acquisition worth, and additional particulars, have but to be disclosed.

Nearpod presents an edtech platform that Ok-12 lecturers use within the classroom to create interactive slides full of movies, quizzes, questions and different actions. College students can use any machine to take part within the classes in real-time; there’s additionally a student-paced studying mode. In response to the pandemic, Nearpod now additionally presents distant studying, too.

It’s been a busy yr for Nearpod. The corporate, which was based in 2012 by three Argentinian entrepreneurs, is now led by Pep Carrera who was introduced on in early 2020 simply because the pandemic gained traction. The corporate has raised greater than $30 million in enterprise capital in accordance with Crunchbase, and we last profiled the startup in 2017 when it raised its Series B.

In a earlier interview, Carrera instructed me “My first day on the job, I’m driving to the workplace [near Dania Beach] and speaking to the administration staff on the cellphone, and we determined that we would have liked to shut the workplace as a result of pandemic. This was in March.” Nearpod at present staff about 250 staff, most of that are at their Dania Seaside HQ.

Whereas the pandemic has posed many questions round distant work, below the management of Carrera, Nearpod has seen explosive progress in 2020. Whereas Nearpod was primarily designed to be used within the classroom, the staff was in a position to flip it right into a remote-learning platform, too, making it a forerunner in Ok-12 distance training.

Nearpod is utilized in all 50 states, and in additional than 1,800 faculty districts. In 2020 alone, the corporate grew by about 50% with greater than 1 million lecturers utilizing the product, and 2-3 million college students on-line per day. In a December 2020 interview, Carrera instructed me that each one the cash being generated proper now could be being put again into the corporate to propel its progress, which has been natural. Nearpod spends little or no advert {dollars} on advertising and marketing. The true advertising and marketing, he stated, is by phrase of mouth.

A trainer makes use of Nearpod to ship digital curriculum to college students’ cellular units, throughout class. Photograph by way of Nearpod.

Previous to becoming a member of Nearpod, Carrera was president of ProQuest Books, the place he led a staff centered on offering modern software program that made the acquisition, administration, and supply of books to tutorial learners, researchers, and librarians environment friendly and impactful. And even previous to ProQuest, as president and COO, Carrera grew VitalSource Applied sciences, the digital studying division of Ingram Conte Group, serving greater than 20 million learners per yr globally, by 10x over his six years there.

M&A exercise in edtech has accelerated as VCs have splurged funding into the area. As my colleague Natasha Mascarenhas wrote not too long ago, edtech M&A is leading to mass consolidation in the space. Nearpod joins a lot of different edtech firms like Symbolab and Woot Math which have exited in latest months.

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