Investors Step into Leadership at Corporate Ed-tech E-Learning Mind
Capas, a private investment firm established in Detroit last year, has acquired E-Learning Mind, a small San Diego ed-tech company that develops learning programs for corporate customers in such areas as sales training, product knowledge, and health and safety procedures.
Financial terms of the deal were not disclosed in a statement released Monday. Laura Price, a spokeswoman for E-Learning Mind, says the five-year-old ed-tech company currently has 20 employees and more than 80 customers, including Citigroup and Nestle—with annual revenue approaching $1 million.
In an e-mail, Price writes, “This acquisition was a talent and client book acquisition and therefore they are keeping the core team in place, as they were one of the primary reasons for the investment.” Capas made the investment, she adds, “to infuse capital into E-Learning Mind, and advance their product team, sales team, and brand.”
Capas founder and managing partner Simon Casuto became the ed-tech’s president and managing partner, and plans to overhaul the E-Learning Mind brand and product. Capas managing partner Andrew Fayad has taken over as CEO. E-Learning founder Jack Makhlouf has moved to a new position as director of e-learning, and plans to focus on developing learning experiences for customers that combine the latest innovations in design, technology, and multimedia.