Summit Partners Leads $70M Minority Growth Investment in Formative
June 15, 2021
Summit Partners led a $70 million minority growth investment in Formative, a SaaS-based K–12 student data and assessment platform, with participation from Emerson Collective, Fika Ventures, MaC/Mac Ventures and Rethink Education. The capital will fund product expansion, increased teacher and administrator support, and international growth while Summit’s Tom Jennings joins Formative’s board.
- Buyers
- Summit Partners, Emerson Collective, Fika Ventures, Mac Ventures, Rethink Education
- Targets
- Formative
- Industry
- Education
- Location
- California, United States
- Transaction Type
- Growth capital
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