GlobalScholar.com lands $27 Mn, buys Excelsior

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Bangalore: Kal Raman cofounded Bellevue's GlobalScholar.com has raised $27 million in round B funding and is acquiring Excelsior Software, a leading provider of assessment management solutions for K-12 education. The funding includes additional investments from Knowledge Universe Education, a leading global education company; Ignition Partners, a premier venture capital firm; and an added investment from Peter Neupert, an existing board member. The new funding and acquisition of Excelsior Software, which has long-standing relationships in the education community, will enable GlobalScholar.com to greatly expand its reach in the education market and accelerate its U.S. and international growth. "The additional funding, the wealth of education experience the Excelsior Software team brings and the integration of our products, will allow us to provide the tools students, parents and educators need to confidently improve student outcomes," said Raman, CEO of GlobalScholar.com. GlobalScholar.com currently offers three education-related services. It made the strategic decision to acquire Excelsior Software to expand the solutions it offers school districts and in order to offer Excelsior's many loyal customers an even broader collection of educational services. Excelsior Software, which has built many deep relationships during its 21-year tenure in the education industry, counts nearly 1,000 school districts as customers, including some of the largest in the U.S., such as Miami-Dade County Public Schools, FL (3rd), Broward County Public Schools, FL (6th), and Montgomery County Public Schools, MD (14th). As an innovative leader in education technology and a veteran in the education industry, Excelsior's assessment management solutions and its products are a key part of the GlobalScholar.com product vision for the future. "We continue to be impressed with the intense commitment and energy that GlobalScholar.com has for enhancing the education experience for students and devoted educators," said Brad Silverberg, Founding partner of Ignition Partners.

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