EdTech and Future of Work — June 2024

Educapital
2 min readJul 9, 2024

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  • The fundraising activity remains lively this month with 59 deals (vs 91 in 2023). Moreover, the amount raised exceeds last year total with fewer deals announced: c.$358m was raised in June 2024 (vc c.$297m in 2023).
  • In June, North America’s Edtech deals and amount raised represented the most significant portion globally, accounting for 40% and almost $180m, respectively. Europe still stands for an important region with a 46% market share.
  • Belgian AI company TechWolf raised a $42.75m Series B round led by Felix Capital, followed by VC including 20VC, Acadian Ventures, Notion Capital, SAP, ServiceNow Ventures, Stride.VC and Workday Ventures. Founded by three computer science engineers, the startup develops a solution to the skill gap issue by enabling HRs to map their workforce skills, using a state-of-the-art AI technology. Data taken from employees daily work enrich their models that evaluate skills and provide improvement plans for the employee and the company. The round will mainly help the expansion to the United States, where is located more than 50% of their deal pipeline, according to the company.

Some notable funding rounds around the world

M&A Deals

  • There were 16 Exit deals this month which represents a 36% decrease compared to April 2024.
  • PowerSchool, a cloud solution for K-12 schools administration, was acquired by Bain Capital Private Equity, one of the world’s largest private investment firm. The transaction valued the Edtech startup at $5.6 billion, a 8x revenue multiple.

Infographics:

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