Funding

• Toddle raised USD 17 million in Series A funding led by Sequoia Capital India to increase its headcount from 70 to 80 over the next four to five months. It also has immediate plans to introduce a preschool-focused product. (January 10, 2023; Entrackr, Outlook Start-Up)

M&As

• Pearson announced that it will be selling its K-12 learning business in India to LEAD , an Indian EdTech platform. With this acquisition, LEAD will strengthen its product portfolio and reach more than 9,000 schools. (January 6, 2023; Inc42, B2BCHIEF)

• ParentSquare acquired Gabbart Communications, a provider of school website tools and a content management system, to introduce ParentSquare’s new Smart Sites module, which is reportedly the first comprehensive K-12 communications and website platform in the industry. (January 23, 2023; Company Press Release)

Management News

• Discovery Education announced new appointments to its senior leadership team. Among them is Jill Hedrick as chief revenue officer and Lindsay Powers as chief people officer. (January 17, 2023; Company Press Release)

• Panorama Education appointed Danny Johnson as its new chief technology officer (CTO). Johnson will lead the engineering team responsible for building the Panorama platform, set the company's technology strategy, and drive product development efforts. (January 31, 2023; Company press release)

New Product

• Byju’s announced that it plans to open 300 physical tuition centers within the year to boost its hybrid coaching as the need for online education declines post-pandemic. (January 20, 2023; Moneycontrol)

• D2L Corporation announced an extended offering that includes tools for administrators and instructors, workflow simplification, and a robust ecosystem. (January 25, 2023; Company Press Release)

• PowerSchool launched additional solutions for its PowerSchool Unified Classroom and PowerSchool Unified Insights products, including data-driven personalized learning offerings (“LearningNav” and “ContentNav”) and a new resource library within Unified Insights MTSS. (January 30, 2023; NNN News)

• Pressto unveiled a new AI-powered solution that is Google Classroom-integrated and can be used in physical or virtual classrooms to provide real-time personalized feedback on writing assignments, track student progress, and suggest educational content and subject areas for writing assignments. (January 30, 2023; Government Technology Agency)  

• Byju’s introduced BYJU'S Home Tuitions, a one-on-one home tuition pilot program where licensed tutors teach classes at students' homes while providing video content to explain concepts. The service is currently available across the cities of Bengaluru and Patna. (January 31, 2023; Inc42)

• Incident IQ launched iiQ Events, a K-12 workflow management tool, to streamline staff and facilities operations before and during school events. It also announced enhancements to its iiQ Facilities work order solution, including labor rate tracking and improved parts and labor analytics. (January 31, 2023; The Journal)

Geographic Expansion 

• Powerschool announced plans to establish a Middle East and Africa (MEA) office in Dubai to strengthen its relationships with its current clients, which include Al Ittihad National Private Schools, Liwa Education, Aldar Education, ESOL, and the American School Abu Dhabi, as well as to improve its market share. (January 20, 2023; ZAWYA)

Earnings/Results

• Stride reported revenue growth of 12% YoY to USD 458.4 million in Q2 2023, mainly due to strong enrollment, rise in revenue per enrollment, and growth in adult learning. The company's adjusted EBITDA was USD 100.5 million in Q2 2023, which is a 21.5% YoY growth, and a diluted net income of USD 1.19 per share. As a result, Stride revised its projected revenue for FY2023 to range USD 1.775 billion–USD 1.815 billion, with an expected adjusted operating income range of USD 180 million–USD 200 million. (January 24, 2023; Company press release)