Via News Release
“Minneapolis, MN; April 10, 2018 – Edmentum, a global education leader and a pioneer in online teaching and learning solutions, has raised $25 million in incremental financing from New Mountain Finance Corporation and Tennenbaum Capital Partners.
The financing will allow the extension of the company’s debt maturity and comes at a time of escalating growth, perpetuated by well-performing Edmentum programs under the leadership and vision of CEO Jamie Candee.”
“We believe Edmentum is one of the best investments in education today, and this new $25M capital raise is a strong validation of that premise from the investor community,” said Edmentum CEO Jamie Candee. “At Edmentum, we put educators first in everything we do, and we are committed to ensuring that they are at the center of the teaching and learning process. Ultimately, the new investment helps us do what we do best: serving as a trusted partner to educators through every design, operating, and service decision we make.”
Edmentum’s unique portfolio composition and market position makes it an attractive investment in the education technology sector. “Edmentum stands alone when it comes to the breadth and depth of its programs, which combine assessment and curriculum to deliver powerful personalized learning solutions,” said Raj Vig, Managing Partner at Tennenbaum Capital Partners.
The new financing will pave the runway for Edmentum’s next phase of growth as the company expands through investment in high growth markets, solidifying their position as a global leader in personalized learning, comprehensive digital curriculum, and trusted education consulting.
“We believe Edmentum has solid footing from which to take its next steps toward further growth as a leader in education technology,” said Rob Hamwee, CEO of New Mountain Finance Corporation. “The company has a long history of innovation and leadership in this space, dating back to its pioneering of the first digital learning platform in the 1960s. We look forward to seeing Edmentum build on this legacy to solidify its leadership in the education marketplace.”
Edmentum, Inc. is committed to making it easier for educators to individualize learning for every student through simple technology, high-quality content, and actionable data. Founded in innovation, Edmentum’s powerful learning solutions blend technology with individual teaching approaches. Edmentum is committed to being educators’ most trusted partner in creating successful student outcomes everywhere learning occurs. Built on fifty years of experience in education, Edmentum solutions currently support educators and students in more than 40,000 schools nationwide. For more information, visit edmentum.com