Pearson, the global publishing firm based in UK, is set to pick up a strategic stake in the Bangalore-based e-learning firm TutorVista. Pearson is understood to be investing around $15 million for this strategic stake in TutorVista, which is promoted by serial entrepreneur K Ganesh.
TutorVista had earlier raised venture capital from Sequoia Capital, Lightspeed Ventures, Silicon Valley Bank and had subsequently in Manipal Education as an investor.
Ganesh could not be reached for comments.
TutorVista is an online tutoring company started in 2005 and provides tutoring and test preparation in the United States and United Kingdom. It uses technology to bring tutoring to students’ homes. The company seeks to address problems like declining test scores, a shortage of teachers and the lack of effective supplementary education and test preparation.
TutorVista’s personalised, one-on-one online tutoring and test-preparation services are currently available for K-12, college and graduate level students in many subjects and exams. According to TutorVista, online sessions begin with a diagnostic assessment to identify a student’s strengths and weaknesses, followed by individualised learning strategies.
Virtual classrooms are equipped with voice and chat messaging as well as an electronic whiteboard for interactive use by both student and tutor. Though publishing books is at the heart of what Pearson does, it looks at other ways to help people learn. According to its website, it extends its e-learning presence to campus, at home or at work.
Pearson Education offers nearly 2,000 textbook companion websites and a range of other technology-led resources for course management and learning. Pearson, through its Longman companion websites, Higher Education Online Resources and Pearson eCollege, offers almost a similar range of solution that TutorVista offers and this is apparently the trigger for this strategic investment.
While TutorVista started out with US and UK markets as its focus, it had in the recent past acquired Edurite through which it has forayed into the Indian market. (Business Standard)