Newport Beach, CA – L Squared Capital Partners announced today that its portfolio company, Heggerty, acquired Literably to bring seamless science of reading-aligned literacy assessment to thousands of schools and districts.  Heggerty – a trusted literacy leader whose print and digital solutions are found in over half of U.S. school districts – announced its acquisition of Literably, an award-winning, research-backed literacy assessment platform used by hundreds of schools to efficiently and accurately assess students’ literacy knowledge. By combining user-friendly digital assessments, child-specific speech AI, and research-proven curricula, the integration of Literably and Heggerty is uniquely poised to revolutionize how classrooms evaluate and address students’ literacy skills.

Founded in 2013, Literably is an innovative digital assessment platform that can assess students across seven key literacy areas: phonemic awareness, phonics, oral reading fluency, vocabulary, reading comprehension, spelling, and rapid automatized naming. Literably has a decade of experience working with child-specific speech AI to deliver accurate, actionable data for teachers.

“We’re thrilled to expand Heggerty’s reach further into the assessment arena,” said Randall Hunt, Partner at L Squared.  “Literably’s affinity with educators – both teachers and administrators – makes for a perfect fit with Heggerty’s existing suite of literacy solutions.”

With over 500,000 students assessed, Literably has been proven to predict student English Language Arts (“ELA”) success with performance on par with traditional teacher-scored screening assessments.  Literably CEO and co-founder Tyler Borek shares, “The impact is tangible; Literably frees up days of instructional time previously spent on assessment. That’s real time that teachers can use to support children’s growth. And now, in partnership with Heggerty, we can go even further; helping teachers connect data with tailored learning opportunities unique to each child.”

Literably will continue to operate as a stand-alone brand while being tightly integrated into the Heggerty ELA ecosystem, fortifying the myHeggerty digital platform and providing unmatched value for Heggerty classrooms. Heggerty and Literably are also working to bring Heggerty’s phonemic awareness assessments into the Literably platform. For more information on Literably, visit www.literably.com.

About L Squared Capital Partners
L Squared Capital Partners is a private equity investment firm with over $2 billion of equity commitments under management and is headquartered in Newport Beach, CA, that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services. L Squared’s unique investor base of family offices and institutions enables the firm to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over 15 years and have over 150 years of combined experience investing in growing private companies.  For additional information, please visit www.lsquaredcap.com.

About Heggerty
Heggerty is a leading provider of reading and writing curricula, professional development, and digital resources dedicated to improving literacy outcomes. Research-proven to improve student outcomes, Heggerty supports educators in over 11,000 U.S. districts in building strong foundational reading and writing skills. For more information, visit www.heggerty.org.

For Additional Information Please Contact:

Randall Hunt
Partner
[email protected]

Provided for informational purposes only and is not intended as investment advice or an offer or solicitation with respect to the purchase of any investment. Investing with any investment firm is suitable only for qualified investors that fully understand the risks of such an investment. L Squared Capital Partners is an investment adviser registered with the United States Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Investments with L Squared Capital Partners are only offered in accordance with applicable securities laws.