Google Capital, an investment arm for the search giant that has spent its cash on only two companies prior to this, has invested in Renaissance Learning.
Google Capital invested $40 million into Renaissance Learning, based on a $1 billion valuation. The news was shared on Wednesday with Recode. Google Capital has previously invested in Survey Monkey and Lending Club.
Renaissance Learning is one of many educational companies aimed at improving education at the K-12 levels. The company provides resources to schools to help them teach math and reading. The company told Recode that it currently has 18 million paid subscribers.