Capital Will Fuel Growth and Advance Delivery of Next Generation of Online Learning
San Francisco, CA, October 16, 2018 -- NovoEd, the leading provider of social and collaborative online learning for the enterprise, announced today that the company has been acquired by Boston-based private equity group Devonshire Investors. Founded in 2013 at Stanford’s Social Algorithms Lab, the NovoEd cloud-based, learning platform enables the creation, curation, and delivery of engaging learning programs. NovoEd currently powers corporate learning initiatives for Fortune 500 companies such as GE, Kraft Heinz, and Clorox, midsize enterprises, social impact organizations, and executive education providers including the Stanford Graduate School of Business and UVA’s Darden Business School.
Resources provided by Devonshire will allow NovoEd to accelerate its momentum in the corporate and executive education markets with significant investment in product innovation, talent acquisition, and the expansion of its world-class customer support and services. “NovoEd will break new ground in providing collaborative, social learning solutions that not only activate individual performance but also transform organizational capabilities,” commented NovoEd CEO Ed Miller.
“The corporate learning and development market is experiencing a dramatic sea change,” said Jeanne Meister, Founding Partner of Future Workplace, an HR Advisory and Research firm. “Global enterprises are seeking ways to better connect their distributed workforce with a collaborative learning experience that is engaging, scalable and measurable. NovoEd’s platform supports this market demand to upskill employees so they can thrive in the new world of work."
NovoEd’s award-winning platform makes it possible to scale the best of in-person training online across a global workforce and to enhance the quality and impact of the learning experience. Instructional designers are able to use NovoEd tools to easily design, build, and launch experiential learning initiatives that incorporate peer collaboration, feedback and mentorship, and applied projects and assignments – with a consumer-grade user interface and powerful analytics and reporting.
“Skill development in areas such as leadership, risk-taking, strategic agility, sales, and customer service that used to be best suited to in-person learning can now be delivered at scale and with even greater impact,” said Scott Kinney, Managing Director, Education Technology at Devonshire Investors. “We're very excited to support NovoEd’s mission to bring together large employee populations worldwide around specific learning objectives while maintaining a human connection.”
District Capital Partners, LLC acted as the exclusive financial advisor to NovoEd for this acquisition.
About NovoEd
NovoEd is the leading provider of social and collaborative learning for the enterprise. NovoEd’s cloud-based learning platform enables the creation, curation, and delivery of engaging learning experiences that enable business transformation and improve individual and organizational performance. NovoEd makes it possible to scale the best of in-person training online across a global workforce and to enhance the quality and impact of the learning experience. NovoEd’s customers include mid-size enterprises, Fortune 500 companies, and executive education providers. Visit www.NovoEd.com to learn more.
About Devonshire
Devonshire Investors is a private investment group based in Boston, Massachusetts. It manages investments on behalf of its shareholders with a long-term focus on venture capital, principal investments outside of the financial services industry, natural resources and real estate.
A New Chapter for NovoEd: What this Acquisition Means to Us
I could not be more excited to share the NovoEd has reached a new milestone in its company's history. We have been acquired by Boston-based private equity group Devonshire Investors. In Devonshire, we have found a financial partner who shares our passion for collaborative learning and our commitment to the corporate learning and development market. Read more.
Online Learning Platform, NovoEd Acquired by Boston Private Equity Firm
EdSurge
Boston-based private equity firm Devonshire Investors has acquired NovoEd, a San Francisco-based provider of an online learning platform. Terms of the acquisition deal were not disclosed.
NovoEd traces its roots to Stanford University, where engineering professor Amin Saberi and Farnaz Ronaghi, then a PhD student, launched their first online course in 2012. Read more.
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