McGraw-Hill Education to Acquire Engrade

Mergers and Acquisitions

McGraw-Hill Education to Acquire Engrade

Feb 3, 2014

ENGRADE: McGraw-Hill Education has agreed to buy Santa Monica, CA-based Engrade for an undisclosed amount. Engrade provides an online platform that helps K-12 schools track and organize grades, attendance, curriculum, and assessments across different service providers. Engrade last raised a $5 million Series B round in July 2013, and has now raised $8 million total. More details in the press release.

McGraw-Hill plans to integrate the Engrade's data unifying technologies for its digital products, something that the publisher already started doing two years ago as one of Engrade's third-party content providers. "McGraw-Hill is aggressively moving into the digital world," says Posner. Since McGraw-Hill got a new owner--Apollo Global Management--back in March 2013, the company has shown a willingness to spend. The company acquired math company, ALEKS, in June 2013, and its new CEO, David Levin, has shown a penchant for wheeling and dealing.

That established publishers like McGraw-Hill and Pearson are acquiring companies is "an amazing sign" for edtech startups, says Posner. "If you're a mission-driven startup and you want to share your vision with as many people as possible, these entrenched companies [like McGraw-Hill] have all the right distribution channels," says Posner.

Engrade will maintain its offices in Santa Monica, CA. The team will join McGraw-Hill but will continue operating as an "independent company," Posner assures. "We will continue working with other third-party developers and continue to operate as we did two weeks before."

Learn more about EdSurge operations, ethics and policies here. Learn more about EdSurge supporters here.

More from EdSurge

Get our email newsletterSign me up
Keep up to date with our email newsletterSign me up