STI, a Mobile, AL.-based provider of education technology solutions and services for K-12 schools, acquired Chalkable, a New York, NY-based App Store and Learning Management System for students, teachers, administrators and parents.
According to TechCrunch, the acquisition amounted to $10m.
Founded in 1982 and led by Derek Dunaway, CEO, STI offers a fully integrated suite of products addresses student information systems, including health, parent/teacher communications, special education, and ad-hoc reporting.
The acquisition will make Chalkable’s platform accessible to over 1.5 million students in more than 5,000 schools nationwide. STI’s InformationNOW customers will have the opportunity to upgrade to the new LMS system and App Store. A scheduled launch date of September 2014 will allow for the product to be rolled out to a select group of schools nationwide.
Established in 2010 by Michael Levy and Zoli Honig, Chalkable provides innovative digital tools and dynamic content that aim to engage students. Its app store lists education apps from across the web, which can be browsed by category, such as History, Math, Science, etc.
The company was accelerated within 500 Startups (read here) and also backed by Expansion Venture Capital and Prolific Venture Capital.