Lightspeed Systems, an Austin, Texas-based education technology solutions provider, received a strategic growth investment from private equity funds advised by Madison Dearborn Partners.
In addition to the equity investment, Lightspeed has received debt financing from a term loan and revolving credit facility provided by PNC Bank, N.A.
The amount of the deals was not disclosed.
The company intends to use the funds to extend its market leadership position, further penetrating the domestic and international K-12 web filtering and reporting, mobile device management and classroom management market, and continuing to deepen end-customer relationships while leveraging channel partner sales initiatives.
Led by Brian Thomas, Co-Founder, President and CEO, Lightspeed Systems offers the multi-OS Relay cloud platform that filters, monitors and manages student web access, distributed devices and classroom activities and provides reporting and student safety tools. Having
The company partners with 6,500 districts in the United States and 28,000 schools around the world.
It also has offices in Portland and the U.K. and serves over 15 million students in 35 countries.