Stanford-StartX Fund-backed Nearpod has agreed to an acquisition by Renaissance Holding.
Nearpod, a US-based edtech developer backed by Stanford University-affiliated Stanford-StartX Fund, has agreed to an acquisition by education technology developer Renaissance Holding, according to TechCrunch.
The deal has not yet closed but Renaissance’s chief product officer Todd Brekhus confirmed to TechCrunch that a definitive agreement had been signed by both parties. Financial terms or a timeline have not been disclosed.
Founded in 2012, Nearpod provides a platform for teachers in primary and secondary education to produce interactive content such as quizzes that pupils can use to participate either in real time during lessons or at their own pace.
Nearpod’s team will continue to work on its offering following the acquisition. Its product is currently available in all 50 US states and is used in more than 1,800 school districts.
Nearpod raised $21m in a series B round in 2017 led by Insight Venture Partners, with participation from Reach Capital, GSV Acceleration, Krillion Ventures and AGP Miami.
Stanford-StartX Fund participated in a $9.2m series A round in 2016 that was led by Reach Capital. The round also featured Storm Ventures, Rothenberg Ventures, AGP Miami, Arsenal Venture Partners, the John S and James L Knight Foundation and Krillion Ventures, along with assorted angel investors.
