PebblePad secures private equity backing to drive US expansion
Editorial Team
Posted On October 31, 2024
PebblePad, an edtech software provider headquartered in Telford, has secured investment from private equity firm NorthEdge to support its expansion into the United States. The platform, utilised by over 130 universities globally, serves higher education institutions in the UK, US, Canada, Australia, and New Zealand, focusing on student-centred learning.
Founded in 2004 by former university lecturer Shane Sutherland, PebblePad aims to scale operations in both the UK and the US and continue product development with the support of NorthEdge. This new backing will also enable PebblePad to invest further in its workforce, with the recent addition of Andrew Galloway as Chief Financial Officer. Galloway brings significant experience from private equity-backed firms.
Sutherland commented, “Partnering with NorthEdge allows us to fast-track our growth plans in the US, introduce new features, enhance our expertise through access to a wider network, and further our mission to deliver exceptional student experiences and outcomes.”
This deal marks the seventh investment from NorthEdge’s Fund III and represents its 17th technology sector investment. Dan Matkin, Director at NorthEdge, said, “We are pleased to be backing Shane and the highly ambitious team at PebblePad to continue the growth of the platform. The business has a strong track record of growth and has already established a reputation for delivering learning experiences that support clients and students to achieve their desired outcomes – our investment will support PebblePad to deliver these outcomes on a larger scale internationally.”
The transaction was overseen by Jon Pickering, Chief Investment Officer at NorthEdge, along with Dan Matkin and Investment Manager Simone Masterson. NorthEdge’s advisory team included PwC, Strategy&, Cortus Advisory, and other partners, covering areas such as corporate finance, legal, tax, insurance, and technology due diligence. PebblePad received advice from Bishopsgate, Gateley, Claritas, and Crosslake.
Image was generated by DALL-E
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