Renaissance Holding Corp. Is Acquiring Edtech Startup Company Nearpod

By Elijah Labby Saturday, February 27, 2021

Renaissance Holding Corporation, a business that specializes in acquiring an edtech (educational technology) company and developing it to meet its full potential, is now acquiring edtech startup company Nearpod.

Nearpod offers teachers a variety of tools to increase participation in their classes, like interactive quizzes, games, and polls. The edtech startup company wants to make teaching (and learning) more fun by gamifying aspects of students’ curriculum.

A woman doing virtual classes at home.

The Success of the Edtech Startup Company Nearpod

According to Crunchbase, the approach has led the edtech startup to some remarkable success — garnering $30 million in startup company funding over its short life.

Chief Product Officer at Renaissance, Todd Brekhus, told TechCrunch that his business had been looking at acquiring the edtech startup company for some time.

“We [Renaissance] were looking to connect more with lesson delivery and teacher engagement in the classroom and Nearpod has done that in an exceptional way,” he said.

Changes in the Nearpod Startup Business

Among other changes Nearpod has been through is bringing on Pep Carrera to lead the edtech business as its chief executive officer. He said that it has been a turbulent last 12 months for the company, with Carrera forced to shut down the startup company offices because of COVID-19.

“My first day on the job, I’m driving to the office [near Dania Beach] and talking to the management team on the phone, and we decided that we needed to close the office due to the pandemic,” the edtech startup business leader told TechCrunch. “This was in March.”

It turns out he made the right decision. Nearly every in-person workplace shut its doors around the start of the pandemic back in February and March.

But the pandemic, despite shutting Nearpod’s doors for a time, has also underscored the importance of an edtech startup company like Nearpod. One would be hard-pressed to find a student across America that has not had to do any remote work through an edtech business, and it’s becoming increasingly clear that edtech will become a fixture of the American schooling system for some time.

A Look at the Numbers

The numbers reflect this. The edtech business is anticipated to hit a valuation of $285.2 billion by 2027, growing at a compounded annual rate of 18.1%.

18.1% is a stellar number for any business and spells a profitable future for edtech startup company Nearpod and its new parent, Renaissance.

About the Author

Headshot of Elijah Labby

Elijah Labby is a graduate of the National Journalism Center. He has previously written for Broadband Breakfast, a technology and internet policy website.

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