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News and Information Article
Increasing Investment in Products and Services for K-12 Education
SEATTLE, Nov. 29 // -- Apex Learning, a leading provider of
digital curriculum for secondary education, today announced that it has
secured $6 million in equity financing. Chicago-based MK Capital, a leading
software and new media venture capital firm, led the funding round and is
making its first investment in Apex Learning and the K-12 market.
Schools nationwide are turning to online learning to better meet the
needs of all students, from those who are not succeeding in traditional
programs to those capable of accelerating their learning. "We are thrilled
that MK Capital shares our vision and passion for increasing quality
educational opportunities for all students," said Cheryl Vedoe, CEO of Apex
Learning. "The new funds will enable us to expand the solutions we offer
for grades 6-12 and accelerate our penetration into new school districts
nationwide."
The company further announced two board appointments: Karen Buckner and
Mark Koulogeorge, both of MK Capital. "The efficacy of Apex Learnings
digital curriculum and the flexibility to customize solutions to meet
specific educational objectives position Apex Learning to capitalize on the
favorable market trends with respect to adoption of educational
technology," noted Karen Buckner.
"Based on our extensive due diligence, we are convinced that Apex
Learning will continue to contribute to statistically significant
improvements in student performance," added Mark Koulogeorge. "In addition,
customers rated Apex Learning exceptionally high with respect to user
support, a critical factor to sustaining success over the long term."
Over the past four years Apex Learning expanded the breadth of its
curriculum to encompass the core academic subjects required for high school
graduation. The company has extensive experience in online education --
from distance learning to the use of digital curriculum in classroom
instruction and for credit recovery, remediation, and alternative schools
programs.
About Apex Learning
Apex Learning(R) (http://www.apexlearning.com) is a leading publisher
of online instructional materials for secondary education. The companys
standards-based digital curriculum in the core subjects -- math, science,
English, social studies, and world languages -- and in Advanced Placement
is offered for distance learning, classroom instruction, and test
preparation. Since the companys inception, it has had more than one
million student enrollments and served more than 4,000 school districts
nationwide. Apex Learning is headquartered in Seattle, WA and is accredited
by the Northwest Association of Accredited Schools.
About MK Capital
MK Capital (http://www.mkcapital.com) is a $150 million venture capital
fund that invests in software, digital media and outsourced services. The
Managing Members of MK Capital have managed six venture funds and over $500
million of capital in the past twelve years. Each of the Funds principals
has substantial operating experience and a proven track record of helping
small business grow successfully. The General Partner group has
demonstrated its exceptional commitment to the Funds success by being the
largest investor in MK Capital. To date, the Fund has made sixteen
investments.
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