WILMINGTON – A provider of software for K-12 schools, LINQ, announced this week it has received a growth investment from the private equity firm Welsh, Carson, Anderson & Stowe (WCAS), anticipating growth.
The Wilmington-headquartered firm provides solutions for K-12 schools and state agencies to manage cafeterias and nutrition programs, grants, human resources operations, registration, payments, and parent communication, according to a statement from the company.
LINQ noted in a statement that the ongoing pandemic has resulted in schools and districts accelerating “digital transformation.” The company now serves more than 4,000 customers and its software is used to support about 32,000 schools nationwide.
“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,” said Krista Endsley, CEO of LINQ. “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.”
LINQ acquired two companies in August 2021, Alio and eGrants, which the company made in order to expand “product offerings to streamline both financial and grant management for districts,” a statement reads. Endsley joined the company as CEO in 2020, and the firm acquired two companies in September 2020, as well.
Under terms of the deal, WCAS General Partner Christopher Hooper, WCAS Principal Jennifer Ding, and WCAS Operating Partner Tim Clifford, who is also the former CEO of Frontline Education, will also join LINQ’s board of directors.
“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,” said Stephen Davis, Managing Partner at Banneker Partners, in a statement. Davis will continue serving on the company’s board of directors, as will Darryl Lewis and Terrance Bei, both partners at Banneker Partners, a prior investor in the company.
The company’s careers webpage lists dozens of job openings, including remote positions and positions based in Wilmington, Raleigh, and Charlotte.