Locally based education-technology startup Aperture Education is entering its next stage of growth.
Aperture, founded in 2017, is being acquired by Illinois-based Riverside Insights, which offers assessments and data insights on learning abilities and achievements. Aperture offers an online tool to specifically assess students' social and emotional learning needs. It gathers data via the DESSA system and offers growth strategies to help teachers meet those needs.
Terms of the deal were not disclosed.
Jessica Adamson, CEO at Aperture, said the startup felt constrained in its ability to grow faster. It was looking for an external capital source when the deal with Riverside came up. She said Riverside, a portfolio company for Alpine Investors, comes with a solid reputation and has a similar mission. Social and emotional learning was a missing piece for Riverside. Being part of a larger organization will also mean more resources, she added.
"Riverside acquired us because we're doing a really great job," Adamson said. "They have no intention of making any changes that would disrupt that. Their motto right now is to first do no harm and to stand back and watch at what (Aperture has) to be successful."
Rajib Roy, CEO at Riverside, said in a news release the acquisition will allow the company to understand "the whole learner." He said the combined company will be able to make a bigger impact — his goal is to reach 1 billion people globally by 2030.
Initially, Aperture and Riverside are taking a light integration approach, Adamson said.
Aperture's clients, which include local school districts, the New York City Department of Education and the Connecticut State Department of Education, will not be directly impacted, she said. The Aperture brand is staying for now. And the more recognizable DESSA system name is also not going anywhere.
Aperture's executive leadership will remain in place. Its team of roughly 75 employees will grow to more than 400 combined, Adamson said.
She said the combined company's desire is to keep growing, looking at M&A and partnership opportunities to keep meeting students' needs. Aperture logged 200% year-over-year revenue growth in 2021, as the pandemic shone a greater light on the importance of social and emotional skills.
"We have some lofty goals, and we need to be able to focus on achieving those goals, particularly over the next year or two," Adamson said.
Moving ahead, Adamson wants to help teachers incorporate social and emotional learning into their day-to-day classroom activities. There are also opportunities to understand what students' needs are and, based on age group, offer different ways to absorb the content.
