EdTech Innovator Stukent Receives Significant Growth Investment from Tritium Partners
Education Veteran Tim McEwen Joins Board
IDAHO FALLS, Idaho, August 30, 2021-- Stukent, a leading provider of digital courseware and cutting-edge simulations for real-world learning experiences, announced today a strategic growth investment from Tritium Partners. The investment will accelerate the EdTech company's plans for new learning simulations and courseware expansion, allowing for more students to benefit from its engaging and highly experiential products. With the investment, Stukent plans to add more than 100 new jobs after creating over 120 the last few years, mostly in Eastern Idaho.
Founded in 2013, Stukent has established itself as a trusted partner for educational institutions and instructors by providing improved learning experiences that not only help students learn and apply key concepts, but also prepare them to excel in the real world. Through Stukent's integrated and highly interactive digital courseware and simulations, instructors can provide superior learning experiences in both classroom and virtual settings.
Advising Stukent on its expansion plans is Tim McEwen, who recently joined the company's board. Mr. McEwen is an industry veteran, having served as CEO of Thomson Learning (now Cengage) Higher Ed and Lifelong Learning, COO of Haights Cross Communications, CEO of Harcourt Achieve, and most recently, CEO of Archipelago Learning and Study Island. While at Thomson Learning, he also played a role in the early development of Western Governors University.
"Stukent is on a mission to help educators help students help the world. We have facilitated exceptional learning experiences for more than 400,000 students, and we are just beginning to scratch the surface as we see tremendous opportunity ahead to benefit millions of learners with career readiness," said Stuart Draper, founder and CEO of Stukent. "With Tim's extensive expertise in EdTech and learning along with Tritium's proven experience in building market-leading companies, Stukent's future has never been brighter."
With a historical focus on transformative subjects like digital marketing and social media marketing, Stukent is now expanding its product offerings into other core business disciplines including accounting, economics, finance, and supply chain, while continuing to build out more marketing courses.
"I am incredibly impressed with how Stukent's online simulations pair with its courseware to create an immersive, fully interactive and engaging experience for learners," said Mr. McEwen. "Having participated in the evolution of learning over the last 30+ years, I am thrilled to be joining Stukent and to be playing a part in its next phase of helping professors impact student outcomes – through solutions that actually engage today's learners and prepare them for success in today's fast-moving business world, driven by digital transformation."
"Stukent is on an exciting growth trajectory and is poised to be a huge disrupting force for legacy textbook publishers," added Matt Bowman, managing partner of Tritium Partners. "There is a better way for students to learn and gain real-world experience, and our investment in Stukent will help instructors do just that through powerful simulations and engaging courseware."
Vista Point Advisors, a San Francisco based boutique investment bank, acted as the exclusive financial advisor to Stukent.
A four-time Inc. 5000 honoree, Stukent provides digital courseware and simulations for high schools and higher education institutions – including Ivy League schools, some of the country's largest state universities, community colleges, and more – while fulfilling its mission to help educators help students help the world. Stukent products, which are used by over 9,000 instructors in over 70 countries, include market-leading simulations and continuously updated digital courseware.
About Tritium Partners
Founded in 2013, Tritium Partners is a private equity firm focused on technology and services companies with exceptional growth potential. With ~$800 million of assets under management, Tritium actively partners with talented founders and executives to build market-leading companies through high-growth strategies, while maintaining capital efficiency. Tritium's approach emphasizes creating long-term value through both strategic growth initiatives and acquisitions, with specialized expertise in FinTech and financial services, Internet marketplaces, software data and analytics, supply chain and logistics, and tech-enabled business services.
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