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Wednesday, February 19, 2014

Google invests in Renaissance

FORTUNE -- In recent years, Google (GOOG) has made a concerted push into education, marketing Chromebooks in K-12 schools and promoting its Google Play for Education initiative to offer easy access to learning apps and content.
Now Google Capital, the company's previously stealth growth fund, is accelerating those efforts with a $40 million investment in Renaissance Learning, an educational company whose student evaluation tools are used in 40,000 schools. The deal values the company at $1 billion.

The investment is only the third by Google Capital, which is run by David Lawee, the former head of M&A at Google. With the Renaissance investment, Lawee is speaking publicly about the fund for the first time. Previously, Google Capital invested in SurveyMonkey as part of a large debt and equity round by the online surveys provider, and in Lending Club, the peer-to-peer lending platform. Both 

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