|By Marketwired .||
|October 25, 2013 01:08 PM EDT||
SAN FRANCISCO, CA -- (Marketwired) -- 10/25/13 -- Catamount Ventures and Birchmere Ventures today announced that they have completed the sale of TenMarks, a company that is helping teachers and parents deliver innovative mathematics curriculum to students across the country, to Amazon.com, Inc. Terms of the transaction were not disclosed.
Catamount Ventures and Birchmere Ventures first invested in TenMarks in late 2011. Both firms have worked with the TenMarks founding team to grow the TenMarks service to reach millions of students across thousands of school districts nationwide. TenMarks has helped to revolutionize the way teachers teach math, providing personalized online math instruction and practice via math exercises aligned with the common core curriculum standards.
Tory Patterson, Partner at Catamount Ventures, said "The acquisition of TenMarks by Amazon.com is a watershed event for K-12 education technology. This is just the beginning of a huge wave of innovation as world-class entrepreneurs develop cloud and tablet solutions to dramatically improve student outcomes." Ned Renzi, Partner at Birchmere Ventures, added, "Education is following other industries in the use technology to make teachers more effective. We're at the start of a tidal wave of technology-assisted learning."
TenMarks offers personalized online math instruction and practice in a clear, manageable format for K-12 students complete with helpful hints, video lessons, and real-time results. The TenMarks service is designed to help students be individually motivated, engaged and nurtured.
About Catamount Ventures
Catamount Ventures has created a new category of venture capital focused on healthy living, sustainability and educational technology. Founded in 1999, Catamount has $210 million under management and has demonstrated early leadership in education investing. Other Catamount education investments include Revolution Foods, Presence Learning, and MasteryConnect. More Information about Catamount Ventures can be found at http://www.catamountventures.com
About Birchmere Ventures
Since 1996 Birchmere Ventures has partnered with entrepreneurs to help build high-growth technology companies. The firm with offices in Palo Alto, CA and Pittsburgh, PA has over $200 million under management and is proud to have funded innovative companies that make a positive impact while also delivering strong returns for our investors. Birchmere's companies have achieved a cumulative market valuation of $14 billion, leading to Preqin's recognition of Birchmere as being among the highest-performing venture groups in the industry for well over a decade. More information about Birchmere Ventures can be found at http://birchmerevc.com/