Reading Plus Raises Funding From Sterling Partners’ Education...

Financing

Reading Plus Raises Funding From Sterling Partners’ Education Opportunity Fund

May 14, 2019

A PLUS: Sterling Partners’ Education Opportunity Fund has invested an undisclosed amount in Reading Plus, a Winooski, Vt.-based reading intervention programs for students in grades three to 12. The company claims users among millions of students across the country.

Reading Plus will use the money toward improvements in technology, sales, marketing and customer service, according to a statement Monday. Per the terms of the transaction, current CEO Mark Taylor will become chairman, while Steven Guttentag will take over as CEO. Guttentag sold Connections Education to Pearson in 2011 and served as the publisher’s online and blended learning division president.

Sterling launched the fund, which typically invests $10 million to $50 million of equity capital into companies, with Strada Education Network in 2015. Sterling previously sold The National Research Center for College and University Admissions to ACT. Sterling’s previous education investments include Panopto in 2016 and School of Rock in 2012.

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