Sequoia Capital and Song Advisors announced that they have invested US$15mn in K12 Techno Services Pvt. Ltd. K12 manages over 60 schools run by 15 different trusts under the Gowtham Model School and Orchids – the International school brand. It offers a whole gamut of specialized education support services to enhance the quality of learning and teaching. Sequoia Capital’s global experience and local expertise will help fuel K12’s expansion plans.
With this investment, KP Balaraj, Managing Director, Sequoia Capital and Ravishankar GV, Principal, Sequoia Capital and Vishal Vasishth of SONG have joined the board of K12. Sequoia Capital's portfolio includes global leaders like Cisco, Google, Oracle, Electronic Arts and Yahoo! and market leaders in India including Café Coffee Day, SKS Microfinance, Just Dial and Shaadi.com. ISB based Song Investment Advisors is backed by Soros economic development fund, Omidiyar Network and Google.”
K12 Techno Services is a pioneer in enabling high quality education at an affordable price point under the Gowtham Model School brand. The company’s services include curriculum development, infrastructure development, pre-school management, teacher training and marketing solutions with a special focus on development of communication skills.
By providing affordable education services to over 60 schools in Andhra Pradesh, K12 can lay stake to the claim of being one of the largest pure-play school management companies in India. The company plans to expand this business model to other states in country in the next 2 years.
“The importance of education is well recognized, the importance of high quality education is often overlooked. At K12 we strive to offer solutions that enable education of the highest quality and yet ensure that it is affordable. We bring credibility and answerability to the school, enabling parents to monitor the improvement in their child's educational outcomes. Sequoia Capital’s and Song’s investment in our endeavor is both recognition of the compelling value we offer and a strong facilitator for our growth,” said Venkatnarayana, Managing Director, K12 Techno Services.
KP Balaraj, Managing Director, Sequoia Capital India said, "We see K12 as a pioneer with a capital efficient model addressing a large market opportunity. We are indeed pleased to partner with K12 - a potential market leader in affordable education. ”
This is Sequoia Capital’s third investment in India’s education sector and SONG has also focused on education as one of their key focus sectors. SONG targets the high growth SME space in India catering to mass market needs.