Course Material Provider Xanedu Gets Private Equity Funding in...

Financing

Course Material Provider Xanedu Gets Private Equity Funding in Recapitalization Deal

Feb 4, 2020

Xanedu, an Ann Arbor, Mich.-based provider of course materials for K-12 and higher-ed institutions, has raised an undisclosed investment from Chicago-based private equity firm Frontenac as part of a recapitalization deal.

Financial details were not disclosed in the announcement. As part of the deal, Ty Field, a former executive at Ascend Learning and Thomson Higher Education (now called Cengage Learning), will join Xanedu’s board of directors as executive chairman.

Founded in 1999, Xanedu develops customized print instructional materials, based on content from publishers and open educational resources, for more than 1,800 institutions. It claims it has a library of more than eight million items that can be packaged into courses for schools and colleges.

The company has raised more than $12 million, according to Crunchbase. In 2013, Xanedu acquired SharedBook, a developer of online services for creating customized courseware.

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