Renaissance, the education technology company, has acquired Nearpod, the Miami-based edtech company, in a deal that has not closed yet.
Nearpod (https://nearpod.com/) provides an interactive edtech platform that the teachers can use for questions, quizzes, and other videos. Students can use different devices to participate. Nearpod is also providing remote learning.
A former edtech founder, Brekhus, stated, “Renaissance was eying for Nearpod for sometimes. We (Renaissance) were looking to make lesson delivery more formidable, and Nearpod has done this in an amazing way.”
The whole team will resume its work, as usual, however, Carrera will report to Chris Bauleke, the CEO of Renaissance. “We are combining and continuing our mission with Renaissance,” Carrera said.
Although the pandemic has posed several questions on remote work, Nearpod has had great growth under Carrera’s leadership. Originally, the team designed Nearpod for classroom use. However, the team turned it into a remote learning platform.
Nearpod is being used in all 50 U.S. states, along with 1,800 districts. In 2020, over 1 million teachers used the platform and 2-3 million students were online every day. Europe isn’t far behind when it comes to edtech companies. Recently, Brighteye Ventures raised $54 million to back the edtech startups in Europe. (https://rushhourdaily.com/brighteye-ventures-raises-54-million-to-back-edtech-startups-in-europe/).
In a December 2020 interview, Carrera stated that they are putting all their revenue into the company to speed up its growth process. However, the company spends very little dollars on marketing. Carrera stated that real marketing is by word of mouth.
Before joining Nearpod, Carrera worked as a President of ProQuest Books. There, he led a team that provided the software that made books’ delivery to researchers, teachers, and students efficient. Before ProQuest, Carrera worked as the COO of VitalSource Technologies, the online learning platform which serves around 20 million learners each year.
The mergers and acquisitions have accelerated as VCs have provided funding in the field. With this new acquisition, Nearpod now joins companies, like Woot Math and Symbolab.
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