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Stride
Segments:
Online school operators
Product stage:
Growth

Founded in 2000 as K12 Inc. and headquartered in Virginia, Stride Inc. is an EMO that provides K-12 online education. It offers its online curriculum at three levels: to states and districts as a homeschooling alternative to brick-and-mortar schools; to school districts as a supplement to classroom teaching; and to parents individually as a private, online, homeschooling alternative. The company also operates three tuition-based online private schools. During the 2018-2019 school year, Stride Inc. provided its managed public school programs to 75 schools across the US.

Traditionally focusing on K-12 educational programs, Stride Inc. has also moved into the adult (professional skills) education space providing career readiness education. This is accomplished through its Destinations Career Academies and through Galvanize, a company that develops capabilities for individuals and corporations in technical fields such as software engineering and data science, which it acquired in January 2020. The company’s portfolio also includes Tallo, an app that connects students and professionals with scholarships, post-secondary institutions, and companies, and Nepris, a cloud-based platform that allows educators to connect with industry professionals willing to share their skills and knowledge with students.

In response to the Covid-19 pandemic, the company launched K12 Learning Solutions in May 2020, a consulting service for school districts, and in August 2020 it partnered with College Nannies + Sitters + Tutors to train their staff to serve as effective Learning Coaches as schools reopen at home and online. In June 2020 the company partnered with a public charity, Virginia Ready Initiative, to help those that have lost their jobs due to the pandemic gain the required skills for in-demand jobs.

In October 2020, Stride Inc. expanded its partnership with 7 Mindsets, a social emotional learning (SEL) solutions provider, to provide SEL courses and curriculums, leadership training, and teacher professional development for all Stride Inc. schools over the next three years.

In November 2020, the company announced that it will undergo a corporate name change to Stride, Inc. effective December 16, 2020. The change reflects the company’s continued expansion beyond the K-12 market into the adult lifelong learning market. The company also expanded its portfolio of lifelong learning offerings through the acquisitions of Tech Elevator and MedCerts. The acquisition of Tech Elevator complements the IT-focused curriculum provided by Galvanize, while the acquisition of MedCerts marks the company’s entry into the healthcare education market.

In November 2020, a lawsuit, Lee v. K12 Inc. et al., was filed against the company and some of its executives in the U.S. District Court for the Eastern District of Virginia. The allegations filed claimed that Stride Inc. issued false and misleading statements in its efforts to meet the increased, Covid-19 pandemic-driven demand for virtual and blended learning. Such statements were concerning the company’s technological capabilities, infrastructure, expertise, and data security strength. The suit was dismissed by a federal judge in September 2021, on the basis that the shareholders had failed to adequately allege that the company had violated securities laws or acted intentionally. In January 2021, Stride partnered with 21K School, India’s first online school, to offer its own curriculums as well as those of one of its accredited partners, The Keystone School, beginning with the 2021-2022 academic year.

In February 2021, the company selected the cohort of its multi-year We Stand Together scholarship. With a USD 10 million investment, the scholarships are part of a series of initiatives to support racial and socioeconomic inclusion in education and provide more education options to underserved communities. Scholarship recipients will receive tuition-free, full-time enrollment at Stride’s K12 Private Academy or higher education scholarships. Further, in April 2021, the company partnered with the National Association of Black Male Educators (NABME) to increase the number of Black teachers it employs and to equip current teachers with tools to facilitate inclusive classrooms online and physically.

In March 2021, Stride partnered with MetaMetrics, an educational measurement and research organization, to provide Stride teachers with premium membership access to MetaMetrics’ Lexile & Quantile Hubs containing tools and resources to provide personalized instruction.

In May 2021, Pearson, a global education company, stated that it is “not preparing a bid” for Stride, in response to reports that stated the contrary.

In August 2021, Stride released its earnings results for year ending June 30 2021 reporting a revenue of USD 1.54 billion (up 54% YoY) driven by an increase in demand across all Stride products, and a gross profit of USD 534.9 million translating to a gross margin of 34.8%.

Ed Tech: K-12

Ed Tech: K-12

Key stats
Featured companies
258
Total funding (USD)
14 Bn
Total addressable market (USD)
37 Bn
Key competitors
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Company Brief

HQ location:2300 Corporate Park Drive Herndon VA USA
Founded year:1999
Employees:1,001-5,000
Total Funding:USD 20.0 million

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