BOSTON, June 19, 2017 /PRNewswire/ -- BV Investment Partners ("BV"), a middle-market private equity firm focused on the business services and IT services sectors, today announced that it has made a strategic investment in Hero K12, a leading education software provider. BV's partnership with Hero K12 provides the Company with capital to pursue its targeted growth and acquisition strategy.
Headquartered in Miami Lakes, Florida, Hero allows school districts to capture and collect data that enables educators to replace traditional discipline policies with initiatives that emphasize and recognize positive behaviors. By encouraging positive behaviors within schools, Hero's software aids in decreasing absences and suspensions, improving students' test scores and reducing teachers' time spent on discipline. The Company's software is used in K12 schools across districts in 42 states in the U.S, and continues to grow into new schools and districts each year.
Justin Harrison, Managing Director of BV, said, "BV identified a strategic interest in the Edtech market several years ago and the opportunity to invest in Hero evolved out of our relationship with Alan Mendelson, CEO of our existing portfolio company Plasco ID. We are thrilled to have the opportunity to partner with the management team of Hero K12. They have demonstrated a tremendously healthy and scalable model for success with Hero, and they have clear plans for building an all-encompassing EdTech business. Their portfolio strategy will broaden their service offering, focusing on the whole-child, and creating learning environments that allow all children to grow and succeed at school. We look forward to supporting them in Hero K12's next phase of growth."
Mark MacDonald, President & CEO of Hero, said, "The EdTech marketplace continues to experience significant transformation, as schools increase their reliance on technology. More than ever, educators need proven, scalable software solutions to create positive, connected school environments. We have a world-class team of industry executives at Hero K12, who bring operating, strategic and marketing expertise to our group of portfolio companies. Our partnership with BV Investment Partners gives us access to additional funding and we are excited to scale our activities more aggressively."
As part of its ongoing development, Hero recently hired Oliver Wreford to lead its M&A strategy. Mr. Wreford is a senior executive who formerly led Product, Marketing and the ISV (Independent Software Vendor) partner ecosystem at PowerSchool Group.
About Hero K12
With Hero K12, schools create a positive school climate and culture. Hero is a school-wide system to capture and collect data, and with the data, allow schools to replace traditional discipline policies with initiatives that emphasize and recognize positive behaviors. Classroom teachers, administration, parents and the students themselves all have significant impact on learner development. Meet school heroes and see their turnaround stories at https://herok12.com.
About BV Investment Partners
BV Investment Partners is currently investing its ninth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested $3.0 billion in 89 companies, actively targeting investments in the business services and information technology services industries. For more information, please visit www.bvlp.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/bv-investment-partners-announces-strategic-investment-in-hero-k12-300475733.html
SOURCE BV Investment Partners