The 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.
"Google has a major emphasis in education through their Google Apps. ... What it means is more opportunities to better serve our customers," said Jack Lynch, CEO of Renaissance Learning. "I think it's a very important validation for our staff, but I also think it's an important validation for our customers, all of whom use Google on a daily basis."
The Renaissance Learning investment is just one example of an increasing trend for technology companies to embrace education, according to Google Capital executive Gene Frantz.
"Renaissance Learning is at the forefront of this educational movement, and their ability to use data to support effective teaching and drive student growth is unparalleled," Frantz said.