Echo360, the globally leading video-based learning platform, announced today that it has merged with Turning, the world's premier provider of learning engagement platforms for education, business, and government sectors, to establish the industry's most comprehensive SaaS-based video learning and engagement platform that enables instructors and learners to share impactful learning experiences from anywhere.
Combining Echo360's advanced video recording, streaming and video content management platform with Turning's expansive suite of learning engagement, authoring, and content solutions delivers the most holistic learning engagement experience for instructors and learners in any environment -- with more analytics, tools, and integrations with leading LMS platforms to ensure learning outcomes are achieved across every segment the combined enterprise now serves. The additional capital from Centre Lane Partners will enable Echo360 to dramatically expand their current offering in response to faculty and market demand.
A NEW CHAPTER OF GROWTH
Murad Velani, Chief Executive Officer, will lead the combined company, which will operate under the Echo360 brand name. The investment will allow Echo360 to expand its reach geographically and across other core learning markets including K12 education, government, and corporate learning. The combined enterprise will serve over 1,000 colleges and universities around the world, in addition to thousands of K12, business, and government customers in the Americas, Europe, Middle East and Asia Pacific regions.
"Our mission is to create remarkable learning experiences for instructors and learners no matter who they are, where they are, or how they choose to learn, and video is an essential tool to enable the level of engagement we strive for in service to our customers around the world," said Velani. "Together Echo360 and Turning deliver the scale to be the global leader in learning engagement across every sector, and expands our ability to create equitable, engaged learning for all. Both companies have remarkable talent, a track record of innovation and impact, and together provide global scale at a time when learning demands and expectations around the world are being challenged and redefined daily."
ANSWERING THE CALL FOR HYBRID LEARNING
Amidst emergency remote learning caused by looming Covid-19 Omicron threats, school faculty, students, and administration are increasingly embracing video and hybrid learning alternatives -- digitally enabled approaches that facilitate more flexible teaching and learning experiences for students and faculty alike. In recent surveys, 73 percent of students have indicated a preference for online learning, and 57 percent of faculty said they would prefer teaching hybrid courses following the pandemic.
"The fit between Turning and Echo360 is a natural one, and one that will immediately benefit the expanded segments," said Fred Singer, former Echo360 CEO who will be joining the newly combined company's board. "The unexpected need to transform campus life in 2020 forced a shift in our understanding of what's possible within a digital classroom and the broader educational technology ecosystem. Coming out of that experience, we've been seeing universities across the globe rethink the role of technology in creating more meaningful, more flexible, and more satisfying experiences for students and faculty alike. The combined platform supplemented with significant capital resources will ensure Echo360 continued leadership," said Singer.
REDEFINING LEARNING ENGAGEMENT
Turning's unique suite of student engagement tools combined with the Echo360 platform creates a highly interactive hybrid learning environment that unleashes the instructional power and learning potential of video. By enhancing Echo360's video-based solutions with Turning innovations, students and faculty will now be able to engage with course material at a deeper level and collaborate more effectively with their peers. Students can access class content and videos at any time and can take notes that are automatically time-synched to moments within the recorded lecture. Faculty can gauge student comprehension through live quizzes and advanced interactive audience response.
To ensure the student experience is ever-improving, faculty can also access a suite of analytics and features to best track student learning and engagement in real-time. Built specifically for the cloud, instructors can use the platform from wherever they are, on any device, to record and create content, give, and receive feedback, and gain real-time insight into a student's learning journey.
"This acquisition will redefine the learning engagement ecosystem, bringing a robust video management system capability to Turning's proven learning engagement solutions to create a transformational SaaS platform at scale that will accelerate growth for the company. Delivering proven Turning solutions like Dojo360, Point Solutions, and ExamView within a holistic Echo360 video learning experience to existing and new customers unlocks expansive growth opportunities, and we are committed to supporting this investment and management team."
Ken Lau, Co-founder, and Managing Director, at Centre Lane Partners, LLC
Echo360 believes that improved outcomes start with great moments in the classroom. Developed by educators, Echo360 helps instructors record and extend those moments to improve learner engagement through accessible, engaging video-based learning, reaching more than two million learners at approximately 1,200 schools and organizations across North America, Europe, the Middle East, and Asia Pacific. www.echo360.com
Turning was born out of the desire to transform traditional learning into active learning engagement. With global reach and impact across higher education, corporate, K12, and government sectors, the Turning portfolio (including Dojo360, ExamView, Point Solutions, and Knowbly) embodies its mission to create remarkable learning engagement experiences for everyone, everywhere. www.turning.com
About Centre Lane Partners
Centre Lane is a private investment firm focused on making equity and debt, control and non-control, investments in North American middle market companies. Centre Lane targets companies with revenues between $20 and $500 million that have leading market positions and sustainable competitive advantages in their respective niches.