BENGALURU, January 30, 2019 —
The acquisition aims to offer an integrated learning and assessment platform to K12 schools
Singapore based XSEED Education Pte, a leading K-12 education company, announced an agreement to acquire Report Bee, an Indian education technology startup focused assessment analytics and reporting in K12 schools for an undisclosed valuation.
Ananthraman Mani, founder of Report Bee along with co-founders Bala Ganesh S. and Anjan T. will join XSEED as key members of the XSEED technology product team.
This acquisition reflects XSEED’s strategy to augment the scale and impact of its successful school learning program. By integrating Report Bee’s assessment platform and suite of products, XSEED seeks to make it easier for schools to make real-time assessments, provide personalized student feedback, and analyze data to diagnose teaching gaps. Report Bee has been used by close to 1000 schools. XSEED reaches a million children in 8 countries.
Commenting on the acquisition, Ashish Rajpal, founder and CEO of XSEED said, “This is an important step towards becoming a complete education technology company. Report Bee brings on board capabilities in analytics, reporting, personalized assessment, and product design that compliment the XSEED Method, products, and philosophy. We are excited to welcome on board the talented and enthusiastic Report Bee team.” He further added, “While there is a lot of noise around the world about the potential EdTech, there are very few stories about actual improvement of learning inside the classroom. XSEED is one of them.”
Speaking about what attracted Report Bee to XSEED, Ananth Raman Mani, founder of Report Bee commented, “What made us bet on Report Bee’s future with XSEED is the opportunity to make a truthful impact in the school education space. Report Bee’s technology and analytics expertise compliments XSEED product and mission. The market is now ripe for many more disruptions and we believe we can move faster together.”
About XSEED Education
XSEED is among the few companies in K-12 school education who have demonstrated innovation, scale, impact, and commercial success. Founded by Ashish Rajpal, a Harvard alumni who quit an international corporate career to pursue his vision for children, XSEED is quietly disrupting Asia’sschool education markets with its pioneering XSEED Method based program that emphasizes 21st-century skills over rote-memorization. Headquartered in Singapore with development centers in Delhi and Bangalore, XSEED reaches a million children in 8 countries. The company has built a world-class bench of top business and academic talent that includes alumni of top institutes including Harvard, IITs, and IIMs. XSEED has built a profitable business model and raised two rounds of growth capital from Lighthouse Funds and Verlinvest. MIT’s Legatum Center and WISE (the World Innovation Summit for Education), have featured XSEED and its founder Ashish Rajpal as case-studies of breakthrough innovation in improving elementary education.
About Report Bee
Report Bee is an emerging education technology company based in Chennai that provides a cloud-based software solution that allows schools to intelligently assess, report and analyse the performance of individual students, classes and teachers. Founded in 2010 by a group of technology entrepreneurs, Ananthraman Mani, Bala Ganesh S. and Anjan T., Report Bee has been part of the “Deloitte Fast 50” fastest growing EdTech firms in India and Asia and awarded by Bett Asia as a top 3 EdTech Innovator. Report Bee has previously secured a round of investment from IEIF [India Education Innovation Fund] wholly backed by Michael and Susan Dell Foundation.