KKR-owned Kiwi edtech acquires Australian primary education start-up in $40 million deal

New Zealand digital learning resource Education Perfect has acquired bootstrapped Victorian edtech assessment platform Essential Assessment in a deal believed to be worth $40 million

Education Perfect (EP) saw global equity giant KKR take a majority stake in the company two years ago in a deal worth more than $400 million. Terms of the acquisition of Essential Assessment (EA) were not disclosed.

EP is used by over a million students and 50,000 teachers in 3,000 schools worldwide, including 2,000 primary schools in Australia. The edtech scaleup has more than 200 employees in New Zealand, Australia, Singapore, Dubai and Toronto. It is a digital teaching, learning and assessment toolkit for educators that promotes student engagement in online learning and also collects and analyzes student feedback.

EA started 14 years ago in regional Victorian, developed by teacher Andrew Spitty. The platform offers school assessments, both online and in print, for students from Kindergarten through Year 10, based on NSW, Victorian and Australian curricula. It is used by more than 2500 primary and secondary schools.

The Kiwi technology company hopes the acquisition will expand its primary school market to reach 4,000 schools and more than a million students across Australia and make it the region’s largest edtech platform.Essential Assessment allows the company to cement its position as the preferred platform for data analytics, content, and assessment capabilities for educators

Andrew Spitty, who dropped out of high school in North Victorian in 2015 to lead EA full-time as CEO, is the sole owner of the company, which employs more than 20 people, including his brother, who serves as CTO and is the developer for the platform provided. . They will both participate Education Perfect, along with the rest of the team, under the deal.

“We have always been committed to helping primary and secondary schools in their goal of providing quality education, and now we have the opportunity to do this on a larger scale,” said Spitty.

“With our assessment capabilities combined with Education Perfect’s data analytics and content, we can provide schools with an even more effective tool to support their students.”