DreamBox embarks on new phase of growth as company delivers only dual-discipline software solution rated “Strong” by Johns Hopkins’ EvidenceforESSA.org in both mathematics and reading
BELLEVUE, Wash. — December 10, 2021 — DreamBox Learning (“DreamBox”), the leading education technology provider and pioneer of intelligent adaptive learning, today announced it has finalized its acquisition by Evergreen Coast Capital Corp. (“Evergreen”), investors in software and technology businesses seeking growth at scale. As part of the transaction, TPG’s The Rise Fund remains as a minority shareholder. The closure follows a record year for DreamBox, on target for over $100 million in revenue and nearly 40% growth as schools accelerate adoption of proven-effective blended learning solutions.
“As students, teachers, and administrators continue to leverage lessons learned at the height of the pandemic and adopt highly efficacious, adaptive solutions, we are delighted to join forces with Evergreen to further scale to support even more students and educators,” said Jessie Woolley-Wilson, President and CEO of DreamBox Learning. “With the added expertise of Evergreen, the unparalleled passion for learning innovation from our DreamBox team, and our proven model, we are well-positioned to radically change the way the world learns.”
“DreamBox has an impressive track record of delivering innovative and effective products with robust data and analytics capabilities that improve the learning experience for all students and educators,” said Christian Heim, Managing Director at Evergreen Coast Capital Corp. “We look forward to working alongside Jessie Woolley-Wilson, The Rise Fund, and the values-driven DreamBox team to change the status quo in education and transform learning.”
On November 8, 2021, DreamBox announced it had signed a definitive agreement for Evergreen to acquire a majority stake in DreamBox.TPG’s The Rise Fund will retain a significant minority stake and continue to be represented on the Board of Directors. Jessie Woolley-Wilson will serve as Board Chair.
DreamBox offers schools the only dual-discipline software solution rated “Strong” by Johns Hopkins’ EvidenceforESSA.org in both mathematics and reading. Today, the company serves 6 million students and 400,000 educators.
To learn more about DreamBox, visit https://www.dreambox.com/.
About DreamBox Learning
DreamBox Learning®, the leading K-12 education technology provider, is radically transforming the way the world learns. As the only dual-discipline solution rated “Strong” by Johns Hopkins’ EvidenceforESSA.org in both mathematics and reading, DreamBox uniquely provides schools high-quality adaptive learning solutions independently proven to accelerate student growth. Built by teachers and for teachers, DreamBox empowers educators with robust data analytics and content-specific professional development solutions to complement instruction. DreamBox supports 400,000 educators and approximately 6 million students in all 50 states, the District of Columbia, Puerto Rico, and throughout the United Kingdom, Australia, Canada, and Mexico. For more information, visit www.dreambox.com.
About Evergreen
Elliott Investment Management L.P. manages more than $48 billion of assets. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. This investment is being led out of Evergreen Coast Capital Corp., Elliott’s Menlo Park affiliate, which focuses on technology investing. Evergreen has a strong history of impact investing in education. DreamBox marks the second investment in education that Evergreen has completed in 2021.
About The Rise Funds
The Rise Funds are a core pillar of TPG Rise, TPG’s global impact investing platform. Founded in 2016 by TPG in partnership with Bono and Jeff Skoll, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on achieving the United Nations’ Sustainable Development Goals. The Rise Funds deliver capabilities and expertise across a wide variety of sectors and countries at scale, focusing on opportunities in climate and conservation, education, food and agriculture, financial technology, healthcare, and technology.
With more than $12 billion in assets across The Rise Funds, TPG Rise Climate, and Evercare Health Fund, the TPG Rise platform is the world’s largest private markets impact investing platform committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns.
For more information, visit www.therisefund.com or @therisefund on Instagram.
Contact:
RH Strategic for DreamBox Learning
DreamBoxPR@rhstrategic.com
Elliott Investment Management L.P.
Casey Friedman
cFriedman@elliottmgmt.com
212-278-1780
TPG/The Rise Funds
Ari Cohen
415-743-1550
