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It allows students to access more information, but it also enables them to cater it specifically to their individual needs.

Digital learning is having a similar effect on the way we are able to consume and share information. 'Evergreen not only recognizes what DreamBox has achieved, but also what more our team can do for education,' said Jessie Woolley-Wilson, president and CEO of DreamBox, in the release.No longer was knowledge something that only the rich and powerful had access to the rest of us could also grab a book and digest the nuggets of wisdom those before us had acquired. DreamBox, which provides digital math and reading lesson supplements to teachers, counts former US Secretary of Education Arne Duncan as a board member and TPG's Rise fund as an early investor as well.

The company is slated to make more than $100 million in revenue this year, a release on the deal notes. On DreamBox in particular, they saw a 'decade-long opportunity,' Heim said. Their collective expertise was shown in the recent sale of athenahealth, which Evergreen and Veritas Capital bought for $6 billion in 2018.ДЄfter the firms made several adjustments to the business over the past three years, athena was sold for $17 billion to private equity managers H&F and Bain last month, with Evergreen remaining a minority investor.Д®vergreen's funds also have a flexible mandate compared to other private-equity investors, which allows Evergreen to focus on 'businesses where we see an enormous amount of opportunity.' Heim believes Evergreen's advantage as an investor lies with the fact they have technology and education domain expertise (Heim joined Evergreen in 2020 after investing in technology at Warburg Pincus and other private-equity firms) and serious capital backing them (Elliott runs more than $40 billion in total assets). Industry publication EdSurge noted that 2020 was a record year for education technology startups, with more than $2 billion raised from investors like Dragoneer and Andreessen Horowitz. There's a huge transformation occurring in the education space right now, said Christian Heim, managing director at Evergreen, and 'it can really only be delivered through technology.'Д®vergreen is one of many that have jumped into the space. As children across the country were out of school for close to an entire school year, parents and teachers have accepted that technology is a necessary tool to help students catch up on what they missed.

The pandemic forced education - like many industries - to rapidly adopt technologies that might have taken years to integrate.

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The firm's Menlo Park, California-based Evergreen Coast Capital recently bought a majority stake in software company DreamBox Learning for an undisclosed sum that a source close to the firm called 'market-clearing.' Earlier this year, the firm bought a higher-education company in a not-yet-announced deal.

Evergreen Coast MD Christian Heim walked Insider through the firm's education interest.Д®lliott Management's private-equity arm has bought two education technology companies, and is hungry for more.

The acquisition was the second the firm has made in the education space.

Evergreen Coast Capital, Elliott Management's PE arm, bought DreamBox Learning in early November.

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