SAN DIEGO, April 4, 2019 /PRNewswire/
-- Zovio (NYSE: BPI) today announced it is expanding
the scope of services it offers through its acquisition of TutorMe,
a leading provider of instant online tutoring services. TutorMe
aligns perfectly with the education services at Zovio, and provides
a platform through which Zovio will be able to offer additional
products in the future. Powered by a smart matching engine, TutorMe
provides its tutoring services 24/7 across more than 300 subjects,
along with robust analytical dashboards for administrators.
"TutorMe is a strong and seamless fit into our education
technology services ecosystem, with a common vision of serving
today's learners in the way they want to be served and a commitment
to creating positive student outcomes," said Zovio CEO Andrew Clark. "We see many immediate
opportunities to leverage the TutorMe platform to serve additional
higher education institutions and employers, who can use this
on-demand network to coach learners through their course
progression."
Through their academic partnerships, TutorMe reaches hundreds of
thousands of students throughout the
United States and Canada.
Their tutoring solution seamlessly integrates with learning
management systems and course management systems, making it an easy
transition for colleges and universities to provide additional
student learning support, leading to better student outcomes.
"We are excited to become a valuable addition to Zovio's
education technology services," said Myles
Hunter, CEO and co-founder of TutorMe. "TutorMe will bring
to Zovio a key learning service platform and point of
differentiation as they help institutions improve student retention
and success. As part of Zovio, TutorMe will be able to expand its
footprint and impact even more students."
"Working with Zovio will open opportunities to provide other
learning services to higher education institutions and their
learners," said Victor Kotseruba, Vice President of Technology and
co-founder of TutorMe. "As we continue to improve our solution, we
look forward to the opportunities for collaboration on future
technologies."
TutorMe was built by students to help students. The technology
driving its tutoring services will help Zovio participate in the
$5 billion U.S. subject tutoring
market.
As part of Zovio, TutorMe will maintain its operating model,
brand, and purpose. The transaction is expected to close in early
April, subject to customary closing conditions.
About TutorMe
Based in Los Angeles, TutorMe is a leading provider of
online tutoring. TutorMe offers a complete strategic partnership,
qualified to provide premium online tutoring to academic
institutions of all types and successfully improve student
retention. Their platform connects a student with the
most-qualified online tutor in under 30 seconds using a matching
system powered by AI. Students learn via their advanced lesson
space, featuring video chat, screen-sharing, virtual whiteboards
and much more. They also create fully-animated online test
preparation courses. To learn more about TutorMe, visit
www.tutorme.com.
About Zovio
Zovio (NYSE: BPI) is an education
technology services company that partners with higher education
institutions and employers to deliver innovative, personalized
solutions to help learners and leaders achieve their aspirations.
Zovio leverages its core strengths and applies its technology and
capabilities to priority market needs. Using advanced data and
analytics, Zovio identifies the most meaningful ways to enhance the
learner experience and deliver strong outcomes for higher education
institutions, employers, and learners. Zovio's purpose is to help
everyone be in a class of their own. For more information, visit
www.zovio.com.
Forward-Looking Statements
This news release may
contain forward-looking statements which are not statements of
historical fact and are subject to the Safe Harbor provisions
created by the Private Securities Litigation Reform Act of 1995,
including, without limitation, statements regarding management's
intentions, hopes, beliefs or expectations. These forward-looking
statements are based on current information and expectations and
are subject to various risks and uncertainties, including our
ability to integrate the acquisition of TutorMe and the anticipated
impact of the acquisition of TutorMe on our capabilities and our
business. Additional information on factors that could cause actual
plans implemented and actual results achieved to differ materially
from those set forth in the forward-looking statements is included
from time to time in the Company's filings with the Securities and
Exchange Commission (SEC), including, but not limited to, the
Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2018 filed with the SEC
on March 12, 2019, the Company's
quarterly reports on Form 10-Q, and the Company's current reports
on Form 8-K which are available at www.Zovio.com. You should not
place undue reliance on any forward-looking statements.
Forward-looking statements are made on the basis of management's
good faith beliefs, expectations and assumptions regarding future
events based on information available at the time such statements
are made. Forward-looking statements speak only as of the date they
are made. The Company assumes no obligation to update or revise any
forward-looking statements to reflect actual results or any changes
in assumptions, expectations or other factors affecting such
forward-looking statements, except to the extent required by
applicable securities laws.
Contact: Dori Abel
dori.abel@zovio.com
858 668 2586 x11636
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SOURCE Zovio