On February 1st Baltic SME Fund, advised by BaltCap, sold Koolitööde AS, the company managing the eKool platform. The purchaser was Kriit OÜ, a special purpose vehicle combining Estonian private investors. The transaction amount is not disclosed.
eKool (Estonian for eSchool) connects teachers, students and parents via an online student information system delivered as an ASP solution. Generating revenue since 2003, eKool has reached 85%+ student penetration in Estonia and has become a popular and well-known service. eKool.eu has between 350 and 400 thousand unique monthly visitors, ranking among top 10 websites in Estonia.
“During our holding period eKool has made a major leap – today the platform is used by a large majority of Estonian teachers, students and parents”, said Peeter Saks, the Managing Partner of BaltCap. “It has been a great success and we are satisfied with the Company’s development. We would like to thank the small hard working team of eKool for the opportunity to cooperate during the past five years.”
The Managing Director of Kriit OÜ, Üllar Jaaksoo, commented that eKool has a number of new development opportunities especially in the e-learning and e-schoolbooks field. “For us it is a business opportunity with a sense of mission. As a parent of three sons I am an active user eKool site myself.” The investors of Kriit OÜ include professionals from sectors like IT, web development, investment banking, education, etc.
eKool was established in 2002 by Vaata Maailma (Look at World) Foundation as a tool for improving communication between school and home. In 2005 the management team together with BaltCap completed a buy-out of the eKool project from Vaata Maailma Foundation.
Tel. +372 665 0280
Kriit OÜ / eKool
Tel. +372 55 05 245