New Delhi: Xseed Education Pte Ltd, a Singapore-based education company, on Tuesday said it had acquired Report Bee, a Chennai-based education technology firm focused on assessment analytics and reporting in K-12 schools for an undisclosed valuation.
The acquisition will help the company expand its offerings in schools across India and abroad.
XSEED, which operates across eight countries, considers India as one of its biggest markets.
“It reflects XSEED’s strategy to augment the scale and impact of its successful school learning programme by integrating Report Bee’s assessment platform…" the company said, adding, it will help its client schools make real time assessments, provide personalised student feedback, and analyse data to diagnose teaching gaps.
Report Bee has been used by close to 1000 schools. XSEED reaches a million children in eight countries. Report Bee’s founders, including Ananthraman Mani, Bala Ganesh S. and Anjan T., will join XSEED as key members of its technology product team.
This is XSEED's second acquisition in India. In 2015, it had acquired Pleolabs, a Delhi-based start-up focussed on management of curricular resources, academic process workflows and collaborative learning interactions in schools.
“This (acquisition of Report Bee) is an important step towards becoming a complete education technology company. Report Bee brings on board capabilities in analytics, reporting, personalised assessment, and product design that complement the XSEED," according to Ashish Rajpal, founder and chief executive of XSEED.
“Report Bee’s technology and analytics expertise compliments XSEED's product and mission. The market is now ripe for many more disruptions and we believe we can move faster together," said Ananth Raman Mani, founder of Report Bee.
While XSEED with its curriculum, assessment and training offerings has reached eight million students across eight countries and raised two rounds of funds earlier from fund houses such as Lighthouse Funds and Verlinvest, Report Bee has secured a round of investment from India Education Innovation Fund, wholly backed by Michael and Susan Dell Foundation.