PR News Wire | September 01, 2023
Discovery Education, a global education technology company backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake"), today announced it has agreed to acquire DreamBox Learning®, a PK-12 education technology provider serving more than 6 million students and 600,000 educators nationwide. DreamBox Learning's current investors Elliott Investment Management L.P. and TPG's The Rise Fund will retain minority stakes in the company. Financial terms were not disclosed.
Headquartered in Bellevue, WA, DreamBox Learning offers the only dual-discipline solution rated "Strong" by Johns Hopkins University's evidenceforESSA.org in both mathematics and reading. Through its high-quality adaptive learning solutions independently proven to accelerate student growth, DreamBox Learning empowers educators with data analytics and content-specific professional development solutions to complement instruction.
"Discovery Education is excited to welcome DreamBox Learning, a brand synonymous with quality, research-based math and reading edtech solutions to our growing family of services," said Discovery Education Chief Executive Officer Jeremy Cowdrey. "Combining an expertise in learning science with adaptive, effective instructional solutions, DreamBox Learning's solutions can help students excel regardless of who they are or where they live. Through this latest acquisition, Discovery Education is better positioned to broaden its impact on student success by providing our existing network of partner school systems access to DreamBox Learning's collection of supplemental math, reading, and professional learning solutions."
The acquisition of DreamBox Learning supports Discovery Education's mission to prepare learners for tomorrow by creating innovative classrooms connected to today's world. DreamBox Learning's products complement Discovery Education's other successful digital solutions, which include Discovery Education Experience, the company's award-winning K-12 platform, the Techbook series of digital textbooks, Mystery Science, and more, in supporting student achievement.
The acquisition of DreamBox Learning comes at a time when school districts are seeking comprehensive, yet consolidated platforms to address a wide range of core and supplemental learning needs, backed by research that underscores meaningful gains in achievement. The addition of DreamBox Learning's intelligent adaptive learning technology to the Discovery Education suite will provide educators and students with more options for engaging, personalized learning experiences across a variety of disciplines.
"DreamBox Learning was founded in 2006 with the mission to transform the way the world learns through our pioneering intelligent adaptive learning technology, and today's announcement represents a significant next step to achieving that mission. Building upon our existing math and reading solutions, we can now leverage Discovery Education's highly scalable global footprint to reach more students and deepen our partnerships with educators around the world," said Jessie Woolley-Wilson, President and CEO of DreamBox Learning.
DreamBox Learning will be Discovery Education's most recent acquisition, joining Pivot Interactives and DoodleLearning, which were acquired in August of 2022, and Mystery Science, which was acquired in 2020.
Sidley Austin LLP served as legal advisor to Discovery Education. Moelis & Company LLC acted as lead financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor to DreamBox Learning on the transaction. The transaction is expected to close in the fourth quarter of 2023, pending customary regulatory approval and the satisfaction of customary closing conditions.
About Discovery Education
Discovery Education is the worldwide edtech leader whose state-of-the-art digital platform supports learning wherever it takes place. Through its award-winning multimedia content, instructional supports, and innovative classroom tools, Discovery Education helps educators deliver equitable learning experiences engaging all students and supporting higher academic achievement on a global scale. Discovery Education serves approximately 4.5 million educators and 45 million students worldwide, and its resources are accessed in over 100 countries and territories. Inspired by the global media company Warner Bros. Discovery, Inc. Discovery Education partners with districts, states, and trusted organizations to empower teachers with leading edtech solutions that support the success of all learners.
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are technology, consumer, and industrials. Clearlake currently has over $70 billion of assets under management and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland, and Singapore.
PRnewswire | July 24, 2023
WuKong Education, a leading online education technology company with over 300,000 students worldwide, today announced that it has been selected as the winner of the "Language Learning Innovation of the Year" award in the 5th annual EdTech Breakthrough Awards program conducted by EdTech Breakthrough, a leading market intelligence organization that recognizes the top companies and solutions in the global educational technology market.
WuKong Education's technological empowerment through game-like interactive homework functions provides students with a fun and engaging way to reinforce their learning. WuKong's scientific teaching method is based on New Zealand's Inquiry-Based Learning methodology and the 5C Core Competence Model, aimed at providing quality education in a more efficient manner.
WuKong Chinese formed and followed a Chinese curriculum framework with four core programs: Pre-K Chinese, International Chinese, Advanced Chinese and Basic Chinese, with specialized sessions covering Chinese pinyin, idioms and readings, allowing students from different age groups to learn Chinese in an efficient manner.
The company's rigorous teacher selection process ensures excellence, with more than 4,000 certified teachers graduating from top universities such as Harvard and Peking University. In addition, over 76% of WuKong's teachers have at least a master's degree, and most teach bilingually. WuKong is also comprised of a multicultural and multinational team, with employees from 11 countries and regions worldwide.
"WuKong Education demonstrates a commitment to quality education, technological innovation, and multiculturalism. Their rigorous teacher selection process along with their scientific teaching method and commitment to empowering students through technology make them our choice for the 'Language Learning Innovation of the Year' award," said James Johnson, managing director, EdTech Breakthrough. "Exposing students to languages results in improved empathy by the introduction of customs and values belonging to a different society. Language learning is not just a means to communicate but helps develop a disposition to explore different perspectives."
The mission of the EdTech Breakthrough Awards is to honor excellence and recognize the innovation, hard work and success in a range of educational technology categories, including Student Engagement, School Administration, Adaptive Learning, STEM Education, Remote Learning, Career Preparation and many more. This year's program attracted more than 2,400 nominations from over 16 different countries throughout the world.
"Thank you to the EdTech Breakthrough Awards for recognizing the quality of our courses, innovative teaching methods, and accomplished teachers," said WuKong Education's founder and CEO, Vicky Wang. "We ground our courses in evidence-based, child-friendly approaches that instill an initiative for learning, spark interest in the subject matter, and establish a strong foundation for future academic performance. Following the tremendous success of our Chinese courses, we're excited to expand our offerings to provide English courses as well. With our proven technology and expert teachers, we look forward to supporting students across the globe with inquiry-based online education."
About WuKong Education</p>
Headquartered in Silicon Valley, WuKong Education is the premier online education provider for students 3- to 18-years old. Since 2016, WuKong Education has been the first choice for families who want to provide their children with language and mathematics skills for future success in the 21st century. With more than 4,000 teachers around the globe and a dedicated curriculum team developing original courses for the platform, WuKong Education brings the best of online live classes and self-paced learning together in a single, interactive, engaging platform that is available anytime, anywhere.
About EdTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the EdTech Breakthrough Awards program is devoted to honoring excellence in educational technology products, companies and people. The EdTech Breakthrough Awards provide a platform for public recognition around the achievements of breakthrough educational technology in categories including e-learning, student engagement, school administration, career preparation, language learning, STEM and more.
PRnewswire | July 27, 2023
StraighterLine, a creator of affordable, flexible and career-aligned postsecondary courses and credentials that serves over 150,000 learners per year, announced today the appointment of Allison Lesser as vice president of digital marketing. With a track record of successfully leading branding and digital and omni-channel marketing for education, consumer and media brands for more than 20 years, Lesser joins the company after spending more than a decade in branding, digital marketing and user experience leadership roles at education technology companies.
"Allison's extensive experience in education technology and her passion for making education and training more accessible align perfectly with StraighterLine's vision," said Heather Combs, CEO of StraighterLine. "We are thrilled to have her join our team and lead our digital marketing efforts. Her expertise and leadership will drive our mission forward and help us reach even more learners around the world."
In her new role, Lesser will oversee digital marketing strategies and initiatives to support the company's growing platform of courses and new product innovations. She will be responsible for shaping the technical vision and strategy for the StraighterLine platform, driving product innovation and enhancing the overall learning experience for students.
Lesser most recently worked for The Teaching Company, known for its content brands The Great Courses and Wondrium. There, led the acquisition marketing team for Wondrium's video streaming product of nonfiction content and successfully hired, trained and mentored a team of marketers. During the pandemic, her team increased spend by more than 70% in a short time frame while keeping the cost per acquisition within business goals. Her dedication and commitment to delivering strong results in a fast-paced and evolving environment exemplify her leadership skills.
Earlier in her career, Lesser held various leadership roles in the education and digital marketing sectors. She began her journey in education technology in 2011 as the director of product marketing for online education developer K12, where she worked closely with market research and developed positioning for educational products. She also served as the director of digital marketing for Envision, the pioneering developer of career exploration and leadership development experiences for K-12 students. She began her career working in the global headquarters of AOL, where she spent ten years focused on consumer experience and driving product, marketing and content teams to make decisions based on consumer data.
Aside from her professional achievements, Lesser is actively involved in volunteer work and regularly participates in races that support various causes and sponsors two children from Tanzania through Compassion International, providing them with letters of encouragement. She also volunteers at Potowmack Elementary in Sterling, Virginia, where she works closely with the school liaison and social worker to identify ways to help families in need. A resident of Northern Virginia, Lesser has been happily married to her husband, Chris Lesser, for 20 years and is a proud mother of two teenage children.
StraighterLine is the leading provider of high-quality, affordable, online courses that help learners earn college credit and meet their professional goals. Each year, 150,000 learners take one of StraighterLine's 250+ courses to upskill into new careers or earn credit from over 2,000 colleges and universities worldwide. StraighterLine works with institutions and corporate partners to provide their students and employees with flexible education options that allow them to work and learn at their own pace.