2U ed-tech raises $331m for deals

Education. The US-based 2U public ed-tech company that partners with leading non-profit colleges and universities to offer online degree programs, has raised an acquisition war chest of $331m, which it will use to build on its acquisition of GetSmarter, which it acquired for $103m in 2017. The company, which supplies partner universities with a cloud-based software platform and coursework design, has revenues of c$290m but is still loss-making. 2U was founded in 2008 by John Katzman (founder of The Princeton Review) and CEO Chip Paucek (former CEO of Hooked on Phonics).