IN THE LOOP: Private equity fund Think3 has acquired School Loop, a software company that offers a learning management system and a platform for building school websites. Terms of the deal were not disclosed.
Think3 is using the acquisition to break into the edtech market. According to an announcement of the sale, the billion-dollar private equity firm has existing investments in mobile apps and alert systems for schools.
Started in 2004, the San Francisco-based School Loop claims that more than 3,500 schools use its software, including those in major urban districts, such as Los Angeles. As a result of the deal, its customers will also gain access to Think3’s Prime program, which lets schools access software across its portfolio companies at no additional charge.
Mark Gross, School Loop’s founder, will remain at the company at least until the transition is complete. Think3 founder Andy Tryba will take over from Gross as CEO.
