GoGuardian Reaches $1bn Valuation With Latest Investment from Tiger Global

GoGuardian, an El Segundo-based educational technology company, has raised $200m from a New York-based private equity firm in a deal that values GoGuardian at well over $1bn.

The investment from Tiger Global Management will help accelerate GoGuardian’s mission to build digital learning in K-12 classrooms

GoGuardian, which is formally registered with California as Liminex Inc., provides schools and school districts with technology management and software used to access online educational materials.

The software-as-a-service offering is licensed on a subscription basis. Founded in 2014, the company estimates each school district pays roughly $5 per student a year for each product — though students often subscribe to more than one product. The subscription model places GoGuardian revenue “well north of $100 million annually,” according to Advait Shinde, the company’s co-founder and chief executive.

Shinde co-founded GoGuardian with R. Todd Mackey, a local entrepreneur. Mackey is no longer involved in day-to-day operations.

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GoGuardian became popular during the pandemic when teachers and school districts adopted the software to virtually monitor whether a student was actually doing in-class homework.

Besides monitoring student behavior on the internet, the software also helps teachers identify learning gaps and gives students differentiated assignments to meet individual learning needs.

“It feels like we’re just getting started with what technology can do in the classroom,” Shinde said.

The company plans to use the Tiger Global funding for international expansion next year as well as product improvements. GoGuardian also expects to expand its workforce from 450 to 500 by the end of 2021 and to 1,000 by 2023.

The new funds could also be used to make acquisitions, Shinde said.

Tiger Global’s investment gives the private equity firm a significant stake in GoGuardian through close partnership with San Mateo-based private equity firm Sumeru Equity Partners, which has backed the company since 2018.

Shinde said Sumeru will remain as the majority stakeholder in his company.

Source: Yahoo Finance

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