Intel Capital portfolio company Schoology has been picked up by PowerSchool, which will integrate the cloud-based curriculum management software platform with its Unified Classroom service.
Educational technology product supplier PowerSchool has agreed to acquire US-based curriculum management software provider Schoology for an undisclosed sum, enabling semiconductor and data company Intel to exit.
Founded in 2009, Schoology has developed a cloud-based software platform that lets schoolteachers plan lessons, encourage dialogue with students and conduct personalised progress reports.
PowerSchool plans to bundle the technology with its own school management software suite, Unified Classroom, which also has applications in data analytics, specialised education provision, talent development and finance.
Schoology had raised a total of $57m in equity before the acquisition, $32m of which came in a 2015 series D round led by growth equity firm JMI Equity and backed by Intel’s corporate venturing unit, Intel Capital, as well as FirstMark Capital and Great Road Holdings.
Intel Capital had already led the company’s $15m series C round the year before, investing alongside Great Road, BDS Venture Fund, Great Oaks Venture Capital and existing backers FirstMark and Meakem Becker Venture Capital.
Jeremy Friedman, co-founder and chief executive of Schoology, said: “We have worked with PowerSchool for many years, with many joint customers, and we could not have found a better home for our team and technology.
“With the scale and investment we will get being part of PowerSchool, we can further advance what is possible in education, and take Schoology to a whole new level.”