K12, Inc.

K12, Inc.

K12, Inc.

Overview
Date Founded

2000

Headquarters

2300 CORPORATE PARK DR, HERNDON, VA, 20171, USA

Type of Company

Public

Employees (Worldwide)

4,550

Industries

Schools & Student Services
Consumer Services
Internet Software & Services

Company Description

In 1999, we set out to answer a call. It was a call voiced by a growing number of parents whose children's needs were not being met by traditional education models. Their children were bored by the pace of the traditional classroom, left behind by the pace of the classroom, or just getting lost in the shuffle. While traditional brick and mortar schools work for many children, they restrict many others for a variety of reasons. At K¹², our mission has remained steadfast: To provide any child access to exceptional curriculum and tools that enable him or her to maximize his or her success in life, regardless of geographic, financial, or demographic circumstance. We have become a leader in providing individualized, one-to-one learning solutions to students from kindergarten through high school across the country. These solutions have literally changed lives and opened up possibility for many children. Our biggest fans continue to be parents who are seeking to tap into their children's unique potential and who have seen what can happen when children can work at the right pace and with the tools, approaches, and content that make learning come alive

Contact Data
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Executives & Employees

Executive Chairman

Executive Vice President & General Counsel, Legal

Senior Vice President & Chief Marketing Officer

Senior Vice President & Chief Information Officer

Senior Vice President & Chief Academic Officer

Chief Financial Officer, President, Product & Technology & Principal Accounting Officer

President, Career Readiness Education

Executive Vice President of School Management & Services

Benefit Plan Administrator

Senior Vice President, Public Affairs

Board of Directors

Executive Chairman at K12, Inc.

Former Chief Executive Officer at NYC Leadership Academy

Chairman at Irish Technology Leadership Group, Inc.

Former Governor of Michigan

Former Vice President, Public Finance at Bear, Stearns & Co., Inc.

Chief Executive Officer at Malibu Ventures

Limited Partner at Pine Brook Road Advisors LP

Former President & Chief Executive Officer at Barbara Bush Foundation For Family Literacy

Managing Director of Financial Services Investment Team at Pine Brook Road Partners LLC

Advisor at Trilogy Education Services, Inc.

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K12, Inc.
Owners & Shareholders
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Palisade Capital Management employs a comprehensive, bottom-up, fundamental investment approach. The firm focuses on small-cap core equity strategies and a variety of convertible security investment strategies. These strategies include: small cap core equity, focused all cap equity, convertible securities, short duration convertible securities, hedged convertibles, private equity, and hedged equity.Palisade provides continuous advice to institutional and individual private high net-worth clients through separately managed accounts. For these accounts, the firm's investment recommendations generally include advice regarding: exchange-listed securities, securities traded over-the-counter, foreign issuers, warrants, corporate debt securities (other than commercial paper), municipal securities, mutual fund shares, ETFs, US governmental securities, options contracts on securities, and options contracts on commodities.Palisade offers private wealth management services on a discretionary basis to high net-worth individuals through separately managed accounts. These accounts typically include the securities of individual issuers, however smaller accounts may also utilize mutual funds and ETFs to obtain an appropriate level of diversification. The investment strategies for these accounts include: growth, preservation of principal/income, and balanced/conservative.Palisade, as a sub-advisor, provides discretionary portfolio management services to several mutual fund clients, all of which are registered under the Investment Company Act of 1940: 1290 VT Convertible Securities Portfolio, 1290 Convertible Securities Fund, State Street Institutional Small-Cap Equity Fund, and State Street Small-Cap Equity V.I.S. Fund.Palisade provides investment advisory services to SEI Trust Co. through the management of the Palisade Capital Master Collective Trust, a bank-maintained trust that holds the commingled assets of certain participating qualified corporate and governmental retirement plans. The firm serves as the investment advisor to the Palisade Capital Small Cap Core Collective Fund, a separate investment portfolio SEI Trust Co.Palisade provides discretionary advice to the Palisade Strategic Master Fund (Cayman) Ltd. and its affiliated feeder entities, a private hedge fund using a hedged convertibles investment strategy, and to the Palisade Long Short Alpha Master Fund (Cayman) Ltd. and its affiliated feeder entity Palisade Long Short Alpha Fund (Domestic) LLC, a private hedge fund using a hedged equity investment strategy.The firm also acts as the investment advisor to various private equity partnerships.

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Hood River Capital Management focuses on small market-cap equity growth opportunities. The firm seeks long-term capital appreciation by investing in stocks with market-cap below $3 billion which exhibit strong growth characteristics and attractive valuation relative to underlying profitability. Their portfolios typically consist of 60 to 120 equities which are each limited to 5% of the total portfolio value at cost. Hood River also monitors sector concentrations and generally limits these to no more than a 15 percentage point difference from the weightings in the Russell 2000 Growth Index at the time of purchase.

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Matarin Capital Management employs a quantitative investment approach that seeks to generate superior risk-adjusted investment returns. The firm seeks to capitalize on the occasional mispricing of individual securities and broad asset classes that occurs in the capital markets.The firm's Market Neutral US Plus strategy seeks to outperform cash while minimizing stock market risk by investing both long and short in US equities. The strategy is designed to achieve annualized excess returns of 5% to 7% with a tracking error of 6% to 10%.Matarin Capital Management's North America Small-Cap strategy seeks to outperform the S&P 600 Index over a 3 to 5-year investment horizon. It is a long-only portfolio that holds and average of 100 positions selected from a universe of small-cap North American equities and is diversified across industries and sectors. The strategy is designed to achieve annualized excess returns of 2% to 4% with a tracking error of 3% to 6%.The firm's Global Markets Select strategy seeks to deliver absolute returns by making opportunistic long and short investments in stock indices, sovereign debt, money markets, currencies and commodities using global futures contracts. The strategy is designed to achieve annualized excess returns (above a cash benchmark) of 8% to 12% with a tracking error of 12% to 18%.

Recent Transactions
Details Hidden

K12, Inc. purchases LearnBop LLC from Dreamit Ventures LLC

Details Hidden

K12, Inc., Fuel Education LLC (Virginia) purchase Big Universe, Inc.

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K12, Inc. purchases Middlebury Interactive Languages LLC from Middlebury College

Transaction Advisors
Auditor

Advised onK12, Inc. issued Common Stock

Underwriter

Advised onK12, Inc. issued Common Stock

Underwriter

Advised onK12, Inc. issued Common Stock

Legal Advisor

Advised onK12, Inc. purchases KC Distance Learning, Inc. from Knowledge Learning Corporation

Investment Advisor

Advised onPansophic Learning US LLC purchases K12, Inc. /Post-secondary Business from K12, Inc.

Director

Advised onPansophic Learning US LLC purchases K12, Inc. /Post-secondary Business from K12, Inc.

Advisors & Consultants
Legal Advisor

Lecturer in Law at University of Chicago - Law School

Advisor

Partner at Drake Star Partners Ltd.

Legal Advisor

Partner at Kirkland & Ellis LLP

Clients

TO PROVIDE TUITION-FREE VIRTUAL EDUCATION THROUGH TECHNOLOGY.

OUR MISSION IS TO CREATE A CARING LEARNING COMMUNITY WHERE STUDENTS ACQUIRE KNOWLEDGE, SKILLS AND HABITS OF MIND TO THINK CRITICALLY, TO READ, WRITE, SPEAK AND LISTEN EFFECTIVELY; TO REASON MATHEMATICALLY; TO INQUIRE SCIENTIFICALLY; AND TO DEVELOP THE SOCIAL COMPETENCE THAT ENSURES MEETING THE REQIREMENTS FOR ACCEPTANCE TO A COMPETITIVE HIGH SCHOOL.

TO EDUCATE CHILDREN AS A VIRTUAL PUBLIC SCHOOL. SEE SCHEDULE O FOR FURTHER DETAILS.

Key Stats and Financials As of 2019
Market Capitalization
$1.17B
Total Enterprise Value
$987M
Earnings Per Share
$0.91
Revenue
$1.02B
Net Profit
$37.2M
EBITDA
$117M
EBITDAMargin
11.51%
Total Debt
$24.6M
Total Equity
$633M
Enterprise Value Sales
0.97x
Enterprise Value EBITDAOperating
8.44x
TEVNet Income
26.52x
Debt TEV
0.03x
Three Year Compounded Annual Growth Rate Of Revenue
5.19%
Five Year Compounded Annual Growth Rate Of Revenue
2.01%
Non-Profit Donations & Grants
Political Donations
$2,000
2014
$500
2014
$1,000
2014
Investments
Details Hidden

LearnBop LLC provides educational technology. It offers an online math learning system. The firm's interactive solution enables personalized learning for students, providing questions, suggestions, hints, videos, and visuals, until they understand the math concepts and answer problems on their own. Its also provides a platform for teachers to keep track of students' progress and identify topics holding students back. The company was founded in May 2010 by Bharanidharan Rajakumar and Arthur Tu and is headquartered in New York, NY.

Investors
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Technology Crossover Ventures LP invests in both public & private information technology companies located in the US. The fund targets companies operating in the fields of internet, communications, media, software and information technology services. It provides financing for early and later stage capital requirements.

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Constellation Technology Ventures (CTV) is the venture investing organization within Exelon Corporation, the nation’s leading competitive energy provider. CTV invests in companies representing innovative energy technologies and business models, building a portfolio that represents a broad range of development stages and technology types. CTV catalyzes growth for its portfolio companies by providing equity capital, management expertise and connectivity to the broad and diverse Exelon commercial enterprise.

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Managing Partner at Trailblazer Capital

Suppliers
Oracle Corp. Internet Software & Services | Redwood Shores, CA

Oracle Corporation is an American multinational computer technology corporation headquartered in Redwood Shores, California. The company specializes primarily in developing and marketing database software and technology, cloud engineered systems, and enterprise software products — particularly its own brands of database management systems. In 2018, Oracle was the third-largest software maker by revenue, after Microsoft and Alphabet. The company also develops and builds tools for database development and systems of middle-tier software, enterprise resource planning (ERP) software, customer relationship management (CRM) software, and supply chain management (SCM) software.

iEnergizer Ltd. IT Consulting & Services | St. Sampson, GU

iEnergizer Ltd. engages in the provision of business process outsourcing services. It operates through the following segments: Business Process Outsourcing, Content Delivery, and Others. It provides accounts receivable, document processing, electronic learning development and support, content delivery, and back office operation services. The company was founded by Anil Aggarwal on May 12, 2010 and is headquartered in St. Sampson, Guernsey.

Competitors
Pearson Plc Internet Software & Services - LONDON, GL

Pearson Plc is an education company, which engages in the business of education, business information, and consumer publishing markets. It operates through the following segments: North America, Core, Growth, Penguin Random House, and Corporate. The North America segment includes businesses in the Unites States and Canada. The Core segment referst to businesses in mature markets including the United Kingdom, Australia, and Italy. The Growth segment covers the businesses in emerging markets including Brazil, China, India, and South Africa. The company was founded by Pearson Samuel in 1844 and is headquartered in London, the United Kingdom.

Houghton Mifflin Harcourt Co. Schools & Student Services - Boston, MA

Houghton Mifflin Harcourt Co. engages in the provision of pre-K-12 education solutions, delivering content, technology, services, and media. It operates through the Education and Trade Publishing segments. The Education segment offers educational content, services, and technology solutions. The Trade Publishing segment develops, markets, and sells consumer books in print and digital formats and licenses book rights to other publishers and electronic businesses. The company was founded in 1832 and is headquartered in Boston, MA.

McGraw-Hill Education, Inc. Printing - NEW YORK , NY

McGraw-Hill Education, Inc. publishes and distributes educational content, software and services. The firm operates through four segments: Higher Education, K-12, International and Professional. The higher education segment relates to the development of product across all disciplines, the K-12 segment relates to content development and the international segment relates to locally developed products or adaptations and translations of existing higher education, K-12 and professional products in both digital and print format. The professional segment relates to new titles and revisions, similar to the higher education segment, and include activities related to the creation of the actual product. The company was founded by James Hill McGraw in 1888 and is headquartered in New York, NY.

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