Watermark, a NYC-based provider of assessment software for higher education institutions worldwide, received a controlling investment from TCV.
Quad Partners and Watermark’s management team will reinvest alongside TCV and will be joined by new investor Exceed Capital Partners. The transaction – of undisclosed ammount – is expected to close in the second quarter and is subject to customary closing conditions.
The investment will enable the company to accelerate growth and expand its leadership position through enhanced product offerings. As part of the transaction, TCV General Partner, Jake Reynolds, and Principal Nari Ansari will be joining Watermark’s board of directors.
Led by CEO Kevin Michielsen, Watermark provides educational intelligence systems that allow colleges and universities to gain insights into student learning so that they can improve the quality of educational programs, assess institutional effectiveness, and streamline the accreditation process.
The solution supports over 1,100 higher education institutions, including the majority of the top 200 U.S. News & World Report colleges.