2022 FEV Tutor Announces Strategic Acquisition by Alpine Investors

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WOBURN, MA & SAN FRANCISCO – JULY 20, 2022 – FEV Tutor (“FEV”), the Okay-12 market main analysis and evidence-based on-line tutoring platform, at the moment introduced its partnership with Alpine Investors (“Alpine”), a people-driven personal fairness agency that could be a Licensed B Company dedicated to constructing enduring companies. Phrases of the transaction weren’t disclosed.

Alpine’s partnership will assist additional FEV Tutor’s mission to develop high-quality, on-line studying options that drive change by positively impacting studying outcomes for college students from all backgrounds. As a part of the transaction, Jim Tormey of Alpine would be the new Chief Govt Officer at FEV Tutor, with Co-Founders Anirudh Baheti and Ryan Patenaude persevering with in management roles.

For greater than a decade, FEV Tutor has remodeled the lives of Okay-12 deprived and at-risk college students via its excessive influence digital tutoring mannequin and expansive suite of district companies. FEV companions with faculties and districts to offer high-quality, structured 1:1 on-line tutoring options, delivered by an in depth 24/7 community of extremely educated tutors. FEV offers high-touch consumer assist, tailor-made program design, information analytics, and ongoing formative assessments for its Okay-12 buyer base. FEV Tutor’s merchandise meet the Degree Two Each Student Succeeds Act (ESSA), the nationwide training legislation that helps guarantee success for college students and faculties.

FEV Tutor has noticed heightened demand for its options resulting from ongoing studying achievement and fairness gaps. These increasing studying gaps have introduced extra consideration and sources to assist districts and college students, whereas the acceptance of Okay-12 on-line studying has additionally expanded quickly lately. Amidst these two developments, FEV Tutor sees an unbelievable alternative to positively influence college students’ lives by offering its research-based tutoring program to 1000’s of Okay-12 public faculty districts nationwide.

Jim Tormey joins FEV from Alpine’s CEO-in-Residence (CIR) Program, which permits confirmed executives to step into management roles inside Alpine’s portfolio. Previous to becoming a member of FEV Tutor, Jim served as President & CEO of MidAmerica Administrative & Retirement Options, a third-party administrator for well being and retirement advantages funding and former Alpine portfolio firm.

“Beneath Anirudh and Ryan’s management, FEV Tutor has a demonstrated monitor report of success in closing achievement gaps and delivering high quality outcomes for college students. It’s my agency perception that regardless of its success up to now, this enterprise has solely scratched the floor of its potential and I couldn’t be extra excited to associate with the crew to drive this subsequent part of progress and to positively influence extra deserving college students,” mentioned CEO of FEV Tutor, Jim Tormey.

“We’re excited to associate with Alpine for the following stage of FEV’s progress as we see a generational alternative to influence the lives of thousands and thousands of Okay-12 college students nationwide whereas closing ongoing achievement and fairness gaps,” mentioned Co-Founding father of FEV Tutor, Ryan Patenaude. “Alpine’s PeopleFirst philosophy aligns with the DNA of our firm and helps our values, that are all about doing good for individuals. FEV Tutor was established on the precept of being constructed to serve faculty districts at scale. Alpine’s experience nationwide within the training area is not going to solely assist FEV Tutor prolong its attain to extra faculties and districts, but additionally help and speed up our investments in our merchandise, platforms, and crew.”

“Alpine has been lively within the training sector for years and our partnership with FEV Tutor is an thrilling alternative to advance additional in addressing the training hole on this nation. Younger individuals of all backgrounds are combating COVID-related studying loss and academics are getting burned out. Because the market-leading supplier of Okay-12 tutoring, FEV Tutor has the momentum to ship actual and tangible constructive outcomes on a nationwide scale. On behalf of all of us at Alpine Buyers, we couldn’t be extra excited to start that essential work along with the corporate,” mentioned Founding Companion at Alpine Buyers, Mark Strauch.

Right now’s partnership with FEV Tutor provides to Alpine’s rising portfolio of training centered corporations, which incorporates Wilson Language Coaching and Riverside Insights, and previous investments in Perennial EdTech and McKissock Studying.

Tyton Companions served as unique monetary advisor to FEV.

About FEV Tutor

Based mostly in Boston, FEV Tutor is the main analysis and evidence-based on-line tutoring platform working nationally to impact change in Okay-12 training. Its ESSA-approved applications are strategically designed in shut collaboration with every associate faculty, district, constitution faculty, and different organizations to speed up studying for each pupil. FEV Tutor leverages know-how to ship 1:1 high-impact and transformative customized studying pathways via reside, digital tutoring periods. For extra info on FEV Tutor, go to www.fevtutor.com or comply with on Twitter.

About Alpine Buyers

Alpine Buyers is a people-driven personal fairness agency that’s dedicated to constructing enduring corporations by working with, studying from, and creating distinctive individuals. Alpine focuses on investments in corporations within the software program and companies industries. Its PeopleFirst technique features a expertise program which permits Alpine to deliver management to conditions the place further or new administration is required post-transaction. Alpine is at present investing out of its over $2.25 billion eighth fund. For extra info, go to www.alpineinvestors.com.

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