eduspot acquired by communitybrands
London, 24 August 2017. ACXIT’s partner FirstCapital advised Eduspot on the sale to community brands, a US education software provider backed by Insight Venture Partners. Uniting the two leading providers of back office software for schools to offer a proven suite of best of breed solutions to schools in the US, UK and Europe.
Founded by two software developers (one an ex-teacher) in 2006 and based in Leicester, the company began by offering schools a text service followed by a behaviour management solution the following year. Building on this the company developed a school payments product and later a full school management information system. Today, Eduspot is used by 9,000 schools.
Uresh Naik, co-founder of Eduspot, commented: “Our two initial interested buyers were US based, although the eventual buyer, Community Brands, a US-based family of education-focused software companies backed by global private equity firm Insight Venture Partners, hadn’t been on the radar. FirstCapital had access to a range of buyers in the US and UK that they brought to the table.”
Read the full case study here.
Founded in 1999, FirstCapital is one of the leading independent technology investment banks in the UK, with offices in London, Silicon Valley and Dublin.
Focusing on high-growth technology companies, FirstCapital has developed an exceptional track record in M&A and private placements for companies in the software, internet and digital media and tech-enabled services sectors, with a proprietary SMART dealmaking framework which is proven to deliver premium outcomes. Since September 2019, FirstCapital is a strategic partner of ACXIT Capital Partners. (www.firstcapital.co.uk)