Richmond career and college readiness platform MajorClarity has been purchased by fast-growing Montreal tutoring unicorn Paper.
Terms of the deal were not disclosed.
MajorClarity will be incorporated into Paper’s platform to offer resources like career exploration tools, workforce micro-credentialing, college essay and cover letter review tools, a resume builder, scholarship research and college application management.
"Paper and MajorClarity are both companies focused on academic success for all students. Bringing career readiness and academic support together in one place means students have the tools to discover the "why" behind their education—then get the learning support they need to accomplish their goals," MajorClarity CEO Joe Belsterling said in a statement.
Paper, led by co-founder and CEO Philip Cutler, has raised more than $390 million from the likes of Google and Softbank since its founding in 2014. Its business took off during the pandemic as its virtual tutoring offerings proved to be effective getting students caught up on different subjects as learning moved out of the classroom and into a virtual environment. Its $270 million Series D round, which closed in February 2022, valued Paper at $1.2 billion. It was on track to post $50 million in revenue across 2021, according to a report in The Globe and Mail from that year.
Its purchase of MajorClarity will expand its offerings beyond tutoring. Paper also recently purchased Cambridge, Massachusetts, reading software company Readlee to further grow its suite of offerings.
MajorClarity had raised $2.38 million since its founding in 2014, according to PitchBook, including $400,000 from D.C.’s Halcyon Angels.
Besterling started the business in 2014 after pursuing multiple careers, contending with debt and, then, working with New York nonprofit education lab 4.0 Schools to help young adults learn about career options. It works with thousands of school districts across the U.S.
