Sequoia Capital, Song invest US $15M in K12 Techno Services
Sequoia Capital and Song Advisors announced that they have invested US $15 million in K12 Techno Services Pvt. Ltd, an education service provider in India. K12 manages over 60 schools run by 15 different trusts under the Gowtham Model School and Orchids, which is an international school brand.
Sequoia Capital’s global experience and local expertise will help fuel K12’s expansion plans. With this investment, K P Balaraj, Managing Director, Sequoia Capital and Ravishankar GV, Principal, Sequoia Capital and Vishal Vasishth of Song have joined the board of K12. K12 Techno Services enables education at an affordable price point under the Gowtham Model School brand.
The company’s services include curriculum development, infrastructure development, pre-school management, language labs, teacher training, assessment solutions and marketing solutions with a focus on development of communication skills. The company plans to expand this business model to other states in country in the next 2 years.
“The importance of education is well recognized, the importance of high quality education is often overlooked. At K12 we strive to offer solutions that enable education of the highest quality and yet ensure that it is affordable. We bring credibility and answerability to the school, enabling parents to monitor the improvement in their child’s educational outcomes,” said Venkatnarayana, Managing Director, K12 Techno Services.
Balaraj said, “We see K12 as a pioneer with a capital efficient model addressing a large market opportunity. We are indeed pleased to partner with K12 — a potential market leader in affordable education.”
This is Sequoia Capital’s third investment in India’s education sector and Song has also focused on education as one of their key focus sectors. In August, Sequoia Capital had announced that it had invested Rs 60 crore into anti-virus company, Quick Heal. Song targets the high growth SME space in India catering to mass market needs.
Sequoia Capital’s portfolio includes global leaders like Cisco, Google, Oracle, Electronic Arts and Yahoo! and market leaders in India including Café Coffee Day, SKS Microfinance, Just Dial and Shaadi.com. ISB-based Song Investment Advisors is backed by Soros economic development fund, Omidiyar Network and Google.
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