Visual effects creator Prana Studios and educational publisher Woongjin ThinkBig exited US-based adaptive learning software producer Kidaptive yesterday in an acquisition of undisclosed size by educational product provider McGraw Hill.
Kidaptive’s software utilises artificial intelligence algorithms to help education-focused companies analyse user data to improve engagement with students. Its team will be integrated into a Center for Innovation run by McGraw Hill’s School group.
The company had raised approximately $30.5m in funding since it was spun out of Stanford University in 2011, as of a $19.1m series C round co-led by Woongjin ThinkBig and venture capital firm Formation 8 in 2018.
Prana Studios joined Menlo Ventures, Tuesday Capital (then CrunchFund), Veddis Ventures, S-Cubed Capital, VKRM Ventures and iCamp in a $1.35m series A round for Kidaptive that closed in 2013.
Formation 8 led the company’s $10.1m series B round later the same year, investing together with Prana Studios, Menlo Ventures, Stanford-StartX Fund and NewSchools Venture Fund.