UK-based learning app developer Quipper has been acquired by human resources firm Recruit Holdings for $40m, providing an exit to education and publishing company Benesse, TechCrunch Japan reported on Friday.
The acquisition was completed at the start of April this year, TechCrunch stated.
Founded in 2010, Quipper provides quiz-based e-learning apps, and its lead product is Quipper School, which enables teachers to set assignments, provide feedback and grading, track students’ progress and communicate with them through instant messaging.
Benesse first invested in Quipper as part of a $3.6m series A round in 2012 that was led by Globis Capital Partners and also backed by Atomico. Benesse and Atomico returned in March 2014 to fund a $5.8m extension to the series A round.
Atomico had previously provided £400,000 ($625,000) in seed funding to Quipper in 2011.
Quipper was acquired at the same time as it released an online learning platform that will be integrated into Recruit’s online product range and focused on the global market. Quipper’s founder, Masayuki Watanabe, will remain chief executive of the company post-acquisition.