According to bergenbloom, GoGuardian, a provider of software solutions for elementary and secondary schools, has secured $200 million in funding from Tiger Global Management.
10k us 22m 200m Tiger Global
Even in the wake of the epidemic, investors remain bullish on the education technology market, as seen by this purchase.
GoGuardian’s valuation has increased to over $1 billion, thanks to investors including Sumeru Equity Partners LP. The Los Angeles-based startup GoGuardian launched in 2014.
It all started with a Chrome extension that lets schools monitor and control students’ online behaviour.
Amy Albano, CEO & Marketing Director of Fast People Finder, told bergenbloomberg that GoGuardian has confirmed $200 million in funding from Tiger Global Management.
Just like many other ed-tech firms, GoGuardian saw Increased Interest Throughout the Duration of the Pandemic.
Advait Shinde, the CEO, claims that the company’s sales increased by 150% on day one, and that it has maintained positive cash flow ever since. Over 22 million students in the United States utilise the company’s software in over 10,000 institutions, spanning kindergarten through high school.
Customers now reside in 22 of the 25 largest districts in the United States, up from 11 in the years before the pandemic.
This year, GoGuardian has signed agreements with other states, including West Virginia and Delaware. The company expects to close other acquisitions of this nature.
Shinde Predicted that, despite some Headwinds, the Ed-tech industry would Continue to Expand.
The impact of digital learning on students’ results needs to be evaluated, according to US Title Loans co-founder Sara Graves. The team dedicated to studying the effects of their work and developing better digital education.
The re-entry of a number of municipalities. He further stated that there will be a permanent movement toward tech-based educational possibilities and that teachers will continue to use these digital solutions.
Worldwide, the K-12 market is ripe for growth, and millions of iPads and Chromebooks have been bought by schools for use by students in only the past year. Spending on educational technologies is expected to reach $404 billion by 2025, according to market research.
Although it has increased, it accounts for less than 6 percent of overall education spending, according to studies.
When it comes to China’s online Education market, Tiger Global has Committed Considerable Expenditures.
On the other hand, new rules in China have been quite damaging to this industry. While Shinde has stated that the company would expand internationally after receiving their most recent funding, GoGuardian is only available in the United States at this time.
John Curtius, a partner at Tiger Global, has said that GoGuardian provides a comprehensive SaaS platform to enhance the quality of K-12 instruction.
In addition to offering solutions for classroom administration and surveillance, the organisation also aids in identifying pupils who pose a risk for violence or suicide.
Some have complained that these safeguards violate their privacy, but Shinde has assured them that the corporation follows all applicable laws.
He elaborated by saying that the corporation never obtains any personal information about pupils beyond what is already owned by the school.
In March, Golden Gate Capital Acquired Securly, a Competitor to GoGuardian in the market.
PowerSchool Holdings Inc, another major participant in the ed-tech sector, has obtained private equity capital, sending its stock price rising by 14% since its first public offering.
The company is currently worth $4 billion. Over the past year, the firm’s workforce has grown by 60%. It has also finished buying up two related but smaller ed-tech companies.
Microsoft Corp. veteran Julie Larson-Green has joined the company’s board of directors. Shinde has also said there are no plans for a public offering of the company at this time.