WISCONSIN RAPIDS, Wis. (AP) -- Google Capital's investment in Renaissance Learning is its first in the educational sector.
The Wisconsin Rapids-based educational technology provider says Google Capital will become a minority owner with its $40 million investment. Formed last year, Google Capital has invested in only two other companies, SurveyMonkey and Lending Club.
Renaissance Learning recently acquired Subtext, a K-12 e-reading platform, to complement its flagship Accelerated Reader program. Daily Tribune Media says Google was an early investor in Subtext, a partner in its Google Books platform.
Google Capital executive Gene Frantz says the Renaissance Learning investment is just one example of an increasing trend for technology companies to embrace education.