Wilmington, North Carolina-based K12 operations technology provider Linq has received funding from Welsh, Carson, Anderson & Stowe (WCAS), a private equity firm focused on technology and healthcare.
Banneker Partners-backed Linq offers K12 schools and state government agencies a software platform for cafeteria and nutrition, enterprise resource planning, grant management, human resources management, payments, student registration, and parent communication. Linq stated it has 4,000 customers and caters to 32,000 US schools.
Linq’s chief executive Krista Endsley said: “We have a unique opportunity to make a real difference in the lives of everyday heroes, who work in our nation’s school systems, by helping them to redefine the future of education. Our partnership with WCAS and Banneker marks the start of a new phase at Linq; the emphasis will be on strengthening our purpose-driven company to continue providing outstanding service and solving key challenges for our partner districts.”
WCAS general partner Christopher Hooper and principal Jennifer Ding have joined Linq’s board. In a joint statement they said: “Linq offers a unique platform that provides a full suite of solutions solving real pain points in the K12 administrative and operations workflow. WCAS has deep experience building leading software companies, and we are very excited to partner with Linq and Banneker to continue driving the company’s growth, organically and via M&A, while dedicating ourselves to Linq’s mission of serving school systems and their constituents.”
Tim Clifford, WCAS operating partner and former chief executive of Frontline Education, will also join Linq’s board.
Stephen Davis, managing partner at Banneker Partners, commented: “It is a privilege to collaborate with WCAS and Linq to help advance the company’s vision to create the nation’s only student-to-state ecosystem for administrators. By improving efficiencies for schools, districts, and states, we’re creating tremendous value for Linq customers to focus on what matters the most – our children.” Davis will continue on Linq’s board along with Banneker operating partners Darryl Lewis and Terrance Bei.
William Blair was exclusive financial advisor to Linq, and Orrick, Herrington & Sutcliffe was legal counsel. Kirkland & Ellis was legal counsel and was financial advisor to WCAS.
Date published: 12 January 2022