Weil, Gotshal & Manges is advising private equity fund TPG on a $300 million funding round it’s leading for U.S. education technology company Age of Learning Inc.
Gibson, Dunn & Crutcher is advising Age of Learning on the round, according to a statement.
The funding effort includes the TPG Tech Adjacencies fund, the Qatar Investment Authority, and Madrone Capital Partners.
Bloomberg News reported that Glendale, Calif.-based Age of Learning increased its revenue more than 50% last year, as the pandemic forced children to study from home. The TPG-led investment values the company at around $3 billion, more than double last year’s mark.
Founded in 2007, Age of Learning, says its math and reading programs have helped educate over 50 million children worldwide and have been used in hundreds of thousands of classrooms. It says its ABCmouse platform is the No. 1 digital education program for children ages 2-8 in the U.S.
The company said it will use the new capital for global expansion and investment in new products and technologies.
“This funding enables us to increase our investments in bold and innovative programs and reach even more kids and families, which is vital now more than ever,” said Doug Dohring, Age of Learning’s founder & executive chairman.
To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
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