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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