Dive Brief:

• Google Capital is investing $40 million in Renaissance Learning, a cloud-based assessment and learning analytics company for grades K-12.
• Renaissance's CEO says the company has more than 20 million students using its system at one-third of the nation's schools.
• The investment values the company at about $1 billion.

Dive Insight:

Google has made other education investments, including one related to Renaissance. In 2011, Google Ventures invested $3 million in Subtext, an iOS developer that Renaissance went on to acquire.