Regional private equity firm NorthEdge has made an investment in Telford-headquartered EdTech software provider PebblePad in what is the the seventh deal from NorthEdge Fund III and the firm’s 17th technology investment in total.
Founded in 2004, PebblePad is a learning journey platform used by more than 130 universities to support higher education institutions across the UK, Australia, New Zealand, Canada, and the US.
According to a press statement, NorthEdge’s investment will allow the platform to deliver an ambitious growth plan, which includes scaling PebblePad’s presence in the UK and US, and further developing its product.
It will also enable the business to invest in people, with Andrew Galloway joining as Chief Financial Officer, and additional US resources.
The deal was led by Jon Pickering, Chief Investment Officer at NorthEdge, alongside Dan Matkin, Director, and Simone Masterson, Investment Manager.
NorthEdge was advised by PwC (Corporate Finance), Strategy& (Commercial Due Diligence), Cortus Advisory (Financial Due Diligence), Squire Patton Boggs (Legal Due Diligence), Fellwood (Debt Advisory), Deloitte (Tax Due Diligence), Claritas (Tax Structuring), Lockton (Insurance Due Diligence), Outside In (Political Due Diligence), ReThought Solutions (Technology Due Diligence), Swan Partners (Transaction Support), Holtara (ESG Due Diligence), and Forvis Mazars (Cyber Due Diligence).
PebblePad was advised by Bishopsgate (Corporate Finance), Gateley (Legal), Claritas (Tax), and Crosslake (Technology).
