Frontline Education | October 06, 2022
Thoma Bravo, a leading software investment firm, today announced the completion of its sale of Frontline Education, a leading provider of administration software purpose-built for educators in K-12, to Roper Technologies, Inc. (NYSE: ROP) in an all-cash transaction that values Frontline at approximately $3.725 billion. Frontline, which offers solutions for human capital management, student and special programs, and business operations with powerful analytics to increase productivity and improve overall performance for K-12 administrators, has been a trusted partner to K-12 leaders across all 50 states for decades.
"We are grateful to Thoma Bravo for their invaluable partnership over the last five years which has allowed us to further expand the use of our critical solutions by educators across the country,As part of Roper, we are excited to bring enhanced innovation and value to our clients in alignment with our mission to empower K-12 schools with the technology capabilities they need to succeed."
Mark Gruzin, Chief Executive Officer of Frontline Education
We are extremely proud of our partnership with Frontline and what we have been able to achieve together," said Holden Spaht, a Managing Partner at Thoma Bravo. Applying our deep sector expertise, we worked with Mark and the Frontline team to make strategic acquisitions, increase revenue and expand product offerings and headcount in order to drive sustainable long-term growth. We look forward to following Frontline's continued success with Roper as their partner. J.P. Morgan Securities LLC, Jefferies LLC and Macquarie Capital served as financial advisors and Kirkland & Ellis LLP served as legal advisor to Thoma Bravo and Frontline Education. Cooley LLP also served as legal advisor to Frontline Education.
About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more than $122 billion in assets under management as of June 30, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm's deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 400 companies representing over $220 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco.
Springboard | October 07, 2022
Springboard, an industry-leading online learning platform preparing students for in-demand careers through comprehensive, mentor and instructor-led programs, announced today that it has been added as an Amazon Career Choice partner. Career Choice is an education benefit that empowers Amazonians to learn new skills through technical training and career advancement programs for career success. Springboard will provide tailored programs to train Amazon employees to transition into high-growth, in-demand careers in data analytics and software engineering
“We’re thrilled to be joining Career Choice and working together to create outsized impact for Amazon employees across the country, This partnership is a natural continuation of our mission to transform one million lives by 2030, and particularly in today’s uncertain economy, we’re excited to be a part of a progressive shift towards a workplace focused on employees and their goals.”
Gautam Tambay, CEO and co-founder of Springboard
Eligible Amazon employees throughout the U.S. will be able to enroll with Springboard beginning in November, with programs beginning early next year. We’re committed to providing educational opportunities for our employees across many different fields of interest. One way of doing that is by providing access to educational programs and reskilling opportunities in high-growth tech careers, said Tammy Thieman, global director for Career Choice at Amazon. The program aims to provide new pathways to career advancement opportunities, with a focus on preparing fulfillment center employees for transformational, high-growth tech careers. In the next ten years, occupations in the tech industry are projected to grow at twice1 the rate of the national average – with a persisting labor shortage, creating new pathways for individuals to enter into tech careers is essential. With nearly a decade of experience delivering programs that have successfully re-skilled tens of thousands of people to date, through partnerships with Amazon and others, Springboard is now applying its unique, cohort-based, human-guided learning approach to the corporate learning and employee development market, a $357 billion market according to Statista2. Through Springboard for Business, the company’s enterprise offering for businesses and corporations, Springboard guides employees at Fortune 500 companies through its uniquely tailored programs, which combine 1-on-1 mentorship with live and instructor-led sessions. Programs are available for upskilling and reskilling, and offer customized, company-specific projects to provide employees with the most up-to-date skill sets to drive business impact through contextualized and company-specific learning. If interested in becoming a Springboard enterprise partner, please reach out to email@example.com or visit https://learn.springboard.com/business/ to learn more.
Founded by Parul Gupta and Gautam Tambay in 2013, Springboard is on a mission to transform one million lives through education by 2030. Springboard believes that each student is unique, and needs a learning experience designed to fit their life’s pace, supported by advisors and mentors. More than 20,000 students across 100+ countries have used Springboard to advance their careers through the platform’s comprehensive, mentor-led online learning programs. Graduates have landed jobs with employers like Microsoft, Google, Meta, LinkedIn, Deloitte, Intel, IBM, Salesforce and more.Through Springboard for Business the company partners with businesses to bridge skills gaps through learning that prepares functional teams with the most in-demand and essential skills. Students take on relevant, real projects dramatically increasing learning momentum, retention and skill application in their jobs. Springboard delivers mentor-led online programs in strategic thinking, software engineering, data science, cybersecurity, UI/UX design, digital marketing, machine learning, tech sales and more. Springboard for Business has empowered corporate teams across industries at places like Sun Life Financial, HP, and The North Face.
CLASS101 | December 08, 2022
CLASS101 (CEO Daisun Kong), South Korea's #1 online class platform, today announced the global consolidation of its subscription service, CLASS101+. In a phased rollout that had begun in August 2022, CLASS101+ had become available on three separate platforms – English, Japanese and Korean. Now, all three will begin sharing each other's class offerings via a globally-integrated product. This latest development is set to accelerate CLASS101+'s foray into the global online learning market, bringing its fast-growing number of subscribers and its 130,000+ registered creators all the closer. Breaking down language barriers is necessarily the most important key to success, and to this end CLASS101 is embracing Neural Machine Translation (NMT). Using this state-of-the-art technology, the company plans on gradually making available its 4,000+ classes across all its subscription platforms together with AI-generated subtitles in English, Japanese, and Korean. CLASS101's new language capabilities are unparalleled domestically, and so is its ability to internalize innovations in personalization and localization. Leveraging both the previously accumulated data and the expanded catalog of classes on offer, the company is actively honing its algorithm to deliver more accurate class recommendations on CLASS101+. Its machine translation capacity is being put to use for all aspects of UI localization, too. Together, these attempts aim to present a more personally gratifying learning experience to each and every subscriber.
"CLASS101 aspires to build a world where people live doing what they love, and the consolidation of our subscription platforms and class content is a momentous step toward achieving our vision on a global scale, The number of subscribers from South Korea has been on the rise, and we're confident that our enhanced ability to serve global users would help us attract more learners from Asia, Europe and the United States. For all intents and purposes, CLASS101+ is now a wholly globalized service, and our hope is for both our subscribers and creators from around the world to inspire one another and discover new and unexpected possibilities for growth and development."
Daisun Kong, CEO of CLASS101.
CLASS101, in fact, has a proven track record of producing content that could reach a global audience. In the past, classes from such famed South Korean creators as InHyuk Lee and Lia Kim (from ONE MILLION Dance Studio) had been translated from Korean into English and Japanese. These translated versions ended up accounting for about 36% of the revenue generated outside South Korea. An even stronger case in point is the fact that a number of classes produced abroad and taught in English were purchased in South Korea without translation. Precedents like these indicate that the sheer desire to learn new skills, hobbies and knowledge has no boundaries, be it lingual or geographical. It goes without noting that CLASS101+ has a truly exceptional roster of internationally-acclaimed creators. Yehuda and Maya Devir, married Israeli comic artists, share how to create webcomics as enthralling as theirs, which have led to their building a community of more than 9 million followers. Kathy Nakajima is a pioneering Hawaiian quilt designer and a renowned media personality in Japan. Hisanori Yoshida, an announcer and an award-winning radio host, teaches effective communication skills. David Yungin Kim is a world-class audio engineer and a three-time Grammy winner who has recently released a class on song mixing. In its fully-evolved form, CLASS101+ will be offering 4,000+ classes in 3 different languages (English, Korean and Japanese) in 25 categories, including digital drawing, crafts, photography, and fitness. For $19.99 per month, subscribers can access them anytime, anywhere.