Armstrong has provided CDD for Key Capital Partners (KCP) in support of its investment in Avantis Systems, an educational technology business which supplies its market-leading classroom combination of virtual reality technology and educational content, ClassVR, to schools worldwide.
Teachers use ClassVR to immerse pupils in a range of VR experiences, driving pupil creativity and engagement, and improving learning outcomes. ClassVR combines classroom-specific headsets, curriculum-aligned educational content, and classroom delivery/control/management software into a package that is effective and simple to use for teachers and pupils. Launched in 2017, 40,000 ClassVR headsets are in use in 2,500+ schools in 60+ countries. KCP’s equity investment will support expansion by Avantis in the US and further investment in its educational content and core product offering.
Armstrong completed full scope buy-side CDD building on our team’s experience in the education and technology sectors. Armstrong validated Avantis’ opportunity to expand internationally by carrying out a comprehensive referencing programme of distribution partners and teachers, built a bottom-up market size, and benchmarked ClassVR against key competitors in the market. Armstrong also provided detailed strategic and operational recommendations to support Avantis’ ambitious organic growth targets.
Owen Trotter, Partner at Key Capital Partners;
“Mike, Simon, and the Armstrong team answered our key commercial questions which gave us confidence in the scale of the market opportunity and in management’s ability to deliver. We picked Armstrong to work with us on this deal because of their experience in the education and technology sectors, and their pragmatic, granular approach to due diligence.”
Simon Hemsley, Director at Armstrong Transaction Services;
“ClassVR is a great product, valued by teachers for engaging pupils and helping them learn more effectively. Our CDD validated the huge potential for growth in classroom VR and AR over the next few years, and confirmed the market-leading position that Avantis has. We look forward to a successful partnership between Avantis and KCP.”
This was Armstrong’s 2nd edtech CDD engagement of 2020 and 17th tech deal of the year. For further details on this project and Armstrong’s views on opportunities in the education and technology sectors, please contact;
Simon Hemsley, +44 7957 340 534, firstname.lastname@example.org
Mike Callow, +44 7894 594 500, email@example.com