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(Alliance News) - Apax Global Alpha Ltd on Thursday said it plans to invest EUR3.6 million in online tutoring company Revolution Prep through Apax Digital Fund.
Santa Monica, California-based Revolution Prep offers online tutoring and test preparation services in the US. The investee provides professional tutoring services to students, families and partner schools through an internationally accessible online platform and courses for students of all ages.
The deal is part of a larger investment by Apax Digital Fund, which has the same manager as Apax Global Alpha.
Chief executive of Revolution Prep, Matt Kirchner, said: "The pandemic has accelerated the shift from traditional to online learning and we're continuing to see strong demand even as society is reopening."
"The investment will be used to support the company's growth priorities, driving improvements across its product platform, an expansion into new partner schools and tutoring segments, and growing market share across geographies," Apax Global Alpha added.
Apax Global Alpha shares were down 1.5% at 200.00 pence each in London on Thursday morning.
By Scarlett Butler; scarlettbutler@alliancenews.com
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