Hancock Park-based online tutoring startup TutorMe.com Inc. was acquired by San Diego-based educational services firm Zovio Inc. April 4.
According to industry tracker Crunchbase Inc., TutorMe has raised $1.3 million since its 2015 incorporation. The firm is backed by investor Launch Media, which operates a venture fund based in San Francisco. According to Crunchbase, TutorMe raised a $100,000 angel round in September 2018.
“We are excited to become a valuable addition to Zovio's education technology services," TutorMe Chief Executive and Co-Founder Myles Hunter said in a statement. “TutorMe will bring to Zovio a key learning service platform and point of differentiation as they help institutions improve student retention and success. As part of Zovio, TutorMe will be able to expand its footprint and impact even more students."
Zovio was known as Bridgepoint Education Inc. until April 2, when it announced it would file to change its name to Zovio. The same day, Zovio announced it would move its headquarters from San Diego to a 130,000 square-foot office in Chandler, Ariz.
Terms of the acquisition were not disclosed.
“Working with Zovio will open opportunities to provide other learning services to higher education institutions and their learners," TutorMe Co-Founder Victor Kotseruba stated. “As we continue to improve our solution, we look forward to the opportunities for collaboration on future technologies.”
Tech reporter Samson Amore can be reached at firstname.lastname@example.org or (323) 556-8335. Follow him on Twitter @samsonamore.
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