RECHARGED: Learnosity, a Ireland-based developer of online assessment tools and content for the K-12, higher-ed and corporate learning markets, has raised an undisclosed but “significant” investment from Battery Ventures. Russell Fleischer, a general partner at Battery Ventures, will join Learnosity’s board of directors.
For Battery Ventures, part of that investment entailed buying a 40 percent stake in Learnosity from 3P Learning, an Australian company, which sold that stake for €16.3 million (approximately US $18.8 million), according to The Irish Times. The newspaper reports that that stake used be valued at €30.3 million. The paper says Battery made an additional investment but the size of it was not disclosed.
Founded in 2007, Learnosity has developed assessment-authoring tools used by other digital education companies including College Board, Pearson and Houghton-Mifflin Harcourt. According to the press release, the company plans to use the funding to expand into new markets including vocational training and test preparation. It will also consider acquiring other assets.
