Ed Tech M&A
FEV Tutor Acquired by Alpine Investors, Positioning FEV for 'Next Phase of Growth'
- By Kristal Kuykendall
K–12 online tutoring platform FEV Tutor has been acquired by San Francisco-based private equity firm Alpine Investors, providing the resources for FEV Tutor to continue growing its product and its reach, according to a news release. Terms of the deal were not disclosed.
Alpine’s Jim Tormey will take over as CEO at FEV Tutor, with co-founders Anirudh Baheti and Ryan Patenaude continuing in leadership roles, the companies said in their announcement.
FEV provides structured 1:1 online tutoring programs tailored specifically to individual school needs, delivered by a network of trained tutors accessible 24/7. FEV Tutor’s products meet the Level Two Every Student Succeeds Act evidence standards, according to its website.
Since COVID-19 school shutdowns amplified and worsened learning outcomes and equity gaps across the nation’s K–12 public schools, demand for online tutoring solutions has steadily grown — and online learning has become a post-pandemic norm. “Amidst these two trends, FEV Tutor sees an incredible opportunity to positively impact students’ lives by providing its research-based tutoring program to thousands of K-12 public school districts nationwide,” the company said.
Tormey comes to his new role from Alpine’s CEO-in-Residence Program, which “allows proven executives to step into leadership roles within Alpine’s portfolio,” the equity firm said. Most recently, Tormey served as President & CEO of MidAmerica Administrative & Retirement Solutions, a third-party administrator for health and retirement benefits funding.
“It’s my firm belief that despite its success to date, (FEV Tutor) has only scratched the surface of its potential, and I couldn’t be more excited to partner with the team to drive this next phase of growth and to positively impact more deserving students,” Tormey said.
Alpine has been active in the education sector for many years, noted FEV Tutor’s co-founders; other current holdings in K–12 education include Wilson Language Training, Riverside Insights, Perennial EdTech, Constructive Media, Digital Schools, eDoctrina, and Software Answers.
“Alpine’s expertise nationwide in the education space will not only help FEV Tutor extend its reach to more schools and districts, but also assist and accelerate our investments in our products, platforms, and team,” Patenaude said.
Kristal Kuykendall is editor, 1105 Media Education Group. She can
be reached at [email protected].