Age of Learning Raises $300 Million in Financing Led by TPG
Round marks the largest-ever raise by a U.S. edtech company
Age of Learning’s ABCmouse is the #1 digital education program for young children in the U.S.
Age of Learning has helped educate more than 50 million children globally
Age of Learning, Inc., creator of ABCmouse Early Learning Academy, Adventure Academy, English language learning app ABCmouse English, and My Math Academy, today announced a $300 million equity investment in the company. The round is led by TPG and includes Qatar Investment Authority (QIA) and Madrone Capital Partners. The capital will be used for the company’s global expansion and further increasing investment in new products and technologies to effectively educate more learners.
Age of Learning, founded in 2007, develops digital educational programs with proven efficacy in increasing children’s learning gains. To date, these programs have helped educate more than 50 million children around the world and have been used in hundreds of thousands of classrooms.
“Every child deserves a strong foundation for academic success, and we are committed to delivering on this promise for kids everywhere,” said Paul Candland, CEO of Age of Learning. “We combine best practices in education, cutting-edge technology and the creativity of a major digital studio to build products that are proven by extensive research to really deliver results for children. We couldn’t be more excited to partner with TPG and their global team as we continue to unlock access to opportunity for all kids around the world.”
“Age of Learning has established itself as a leader in education technology over the last decade,” said David Trujillo, Partner at TPG and Co-Managing Partner of TPG Tech Adjacencies. “Their talented team has innovated to create digital education programs that both engage and provide effective learning solutions for children around the world. Age of Learning was built on the vision of helping children everywhere develop a love of learning, and we are excited to partner with them to accelerate that mission.”
The capital raise will enable Age of Learning to reach more children, families, caregivers, and teachers through its digital educational offerings:
- ABCmouse Early Learning Academy is the #1 digital education program for children ages 2-8 in the U.S. andwill expand to include more personalized experiences for kids.
- My Math Academy is a breakthrough personalized learning program that adapts and pinpoints each child’s skill level and continuously provides just-right challenges to help learners master the foundations of math. My Math Academy recently launched in schools with strong early success.
- Adventure Academy is a first-of-its-kind massively multiplayer online education game (MMO) for elementary and middle school students—a constantly-expanding world of learning content and social and multiplayer features.
- ABCmouse English helps children around the world learn English in the way they naturally acquire their native language. It is now expanding with new reading and writing content, placement assessments, and more.
“Since our founding more than a decade ago, Age of Learning has led with a mission to help children everywhere build a strong foundation for academic success and a lifelong love of learning, regardless of their socio-economic backgrounds or circumstances,” said Doug Dohring, Age of Learning’s Founder & Executive Chairman. “This funding enables us to increase our investments in bold and innovative programs and reach even more kids and families, which is vital now more than ever.”
In January 2020, the company established the Age of Learning Charitable Foundation, a standalone 501(c)(3) non-profit organization that partners with Ministries of Education, NGOs, and companies in lower income countries to make Age of Learning’s educational programs available at no cost to families and schools. To date, Age of Learning’s product donations have helped educate more than 10 million children, with a total value of more than $200 million.
TPG is making the investment out of its TPG Tech Adjacencies (TTAD) fund, an investment vehicle focused on flexible capital solutions for the technology industry. Goldman Sachs & Co LLC served as Age of Learning’s exclusive placement agent and Gibson, Dunn & Crutcher LLP as the company’s legal advisor for this transaction. Weil, Gotshal & Manges LLP served as legal advisor to TPG.