Google is using its Google Capital investment arm to put $300 million into technology start ups, including $40 million into an online education software company.
Google stabled the capital investment arm to help fund late-stage development for technology start ups. In 2014, the company is doubling what it invested in 2013, according to Bloomberg.
About $40 million of the investment money is going into Renaissance Learning Inc., a Wisconsin-based education software company.
According to the company website, Renaissance Learning focuses on “accelerating K12 learning – plain and simple.” The company was founded in 1986 by Judi and Terry Paul in the basement of their home in Wisconsin Rapids. It has since grown to six locations in the United States, as well as subsidiaries in Canada and the United Kingdom.
The company was bought by Permira in 2011.
Google’s investment is good news for those interested in online learning. Google’s investment shows that some of the sharpest minds in technology think that they future lies in the use of technology to improve classroom learning.
Renaissance focuses on products that allow teachers and students – via the Internet or mobile devises – to exchange information and ideas as well as improve reading and math skills.
Renaissance focuses on several key guidelines in developing every product. They include products that make more time for targeted instruction and practice; universal access; best use of technology; information feedback to all stakeholders; personalized goal setting; appropriate learning levels for individual students; and research-proven effectiveness of the product.
The company’s first product was accelerated reader, developed by Judi Paul in 1984. The reading software encourages kids to read more – and better – books. Other products include Renaissance Professional Development, which trains educators, and the STAR Reading computer reading test. The latter is designed to give teachers a fast and reliable method to test the reading levels of their students. The company has since released STAR Math, which provides the same type of assessment for students in mathematics.
In 2004, the company developed a Web site that allows educator to group together all of the assessment data for students in one central database.
The company now offers, through a web app, access to Accelerated Reading quizzes online that can be accessed via iPad, iPod Touch and iPhone. In 2012, 22,000 classrooms around the country joined together to have students take quizzes, with 3.5 million quizzes taken in one day.
The company now also offers Accelerated Math Live, which offers Common Core math instruction as well as the ability to view and answer problems online.
Google’s investment will be used for further technology developments. In 2009, Google started Google Ventures, which focuses more on funding early stage development of technology companies. Google Capital was created in 2013 and already has done two investment deals. Google is expected to double its staff to 15 in 2014 as they seek to do five or six deals this year.
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