BV Investment Partners has made an investment in Hero K12, an education software provider. The investment from BV will be used to pursue Hero K12’s growth and acquisition strategy that will expand the company’s product line and geographic reach.
Hero K12 provides software and systems that allow school districts to capture and collect data that allows educators to replace traditional discipline policies with initiatives that emphasize and recognize positive behaviors. The goal of Hero’s products is to decrease absences and suspensions in order to improve students’ test scores and reduce teachers’ time spent on discipline. The company’s software is used in K-12 schools across districts in 42 states in the US. Hero K12 is headquartered in Miami Lakes, FL (www.herok12.com).
“BV identified a strategic interest in the EdTech market several years ago and the opportunity to invest in Hero evolved out of our relationship with Alan Mendelson, CEO of our existing portfolio company Plasco ID,” said Justin Harrison, Managing Director of BV. “We are thrilled to have the opportunity to partner with the management team of Hero K12. They have demonstrated a tremendously healthy and scalable model for success with Hero, and they have clear plans for building an all-encompassing EdTech business. Their portfolio strategy will broaden their service offering, focusing on the whole-child, and creating learning environments that allow all children to grow and succeed at school. We look forward to supporting them in Hero K12’s next phase of growth.”
BV Investment Partners makes investments in companies active in the information and business services, and communications industries. Since its founding in 1983, the firm has invested over $2.9 billion in more than 89 companies. In April 2017, BV Investment Partners held a first and final close for BV Investment Partners Fund IX, LP at its $750 million hard cap, well above its $600 million target. Fundraising for Fund IX began in mid-January 2017. The firm’s earlier fund closed in September 2014 at its hard cap of $487 million. BV Investment Partners is headquartered in Boston (www.bvlp.com).
“The EdTech marketplace continues to experience significant transformation, as schools increase their reliance on technology,” said Mark MacDonald, President and CEO of Hero, “More than ever, educators need proven, scalable software solutions to create positive, connected school environments. We have a world-class team of industry executives at Hero K12, who bring operating, strategic and marketing expertise to our group of portfolio companies. Our partnership with BV Investment Partners gives us access to additional funding and we are excited to scale our activities more aggressively.”
© 2017 Private Equity Professional | June 19, 2017
