We believe the increasing shift to a global knowledge economy has heightened job market competitiveness and fueled demand for additional credentialing to help applicants differentiate. From graduate admissions to professional licensure and certifications, our view is that students are increasingly engaging in high-stakes examinations in which strong performance can have a meaningful impact on subsequent career advancement. At the same time, we believe the high-stakes exam preparation market remains highly fragmented with few providers effectively utilizing the latest in education technology to enhance learning outcomes. Blueprint Education Holdings (“Blueprint” or the “Company”) is a leader in innovative, tech-enabled instructional solutions for high stakes exams that leverages the latest in adaptive technology and edutainment oriented content to improve outcomes and give learners a competitive edge.
“We are thrilled to partner with New Harbor and Blueprint to form the elite provider of grad school test prep courses and tutoring. The two companies share a common mission, and our core strengths are very complementary. Together, we will be able to deliver even better student experience and results.”Matt Riley
Blueprint, Co-Founder and CEO
New Harbor’s investment was made by combining two previously separate businesses; NextStep Test Preparation, a provider of leading pre-health related content, and Blueprint Test Preparation, a leading live and online LSAT preparation provider. New Harbor was first introduced to the Next Step founder, John Rood, several years prior to the transaction and orchestrated the combination when subsequently introduced to Blueprint co-founder Matt Riley in 2017. The combined business integrated premium content across two attractive verticals while leveraging best practices and complementary capabilities from the two organizations. Collectively rebranded Blueprint and brought under Matt Riley’s leadership, the combined entity integrated a set of differentiated capabilities that we believe could be leveraged to accelerate growth within the existing verticals while expanding into myriad other high-stakes settings.
Our investment management plan focused on driving organic growth within the law and pre-health markets while leveraging the combined technological, pedagogical and operational strengths to expand into other attractive verticals. Beyond integrating the two businesses, specific initiatives included increasing delivery modalities, further investing in technology and analytics, expanding into attractive adjacent verticals, and augmenting the leadership team to support continued growth. Since investment, the Company has heavily invested in its technology platform, launching a proprietary LMS with the latest in adaptivity and personalized learning pathways. In addition, Blueprint launched an innovative live online program and completely redesigned the asynchronous MCAT course to leverage the latest in edutainment and adaptivity. The Company has also made numerous enhancements to the leadership team and invested in systems and infrastructure in an effort to support significant refinements across sales and marketing, operations, and reporting. New Harbor and management continue to evaluate adjacent high-stakes preparation verticals for future expansion.
Since New Harbor invested in 2018, Blueprint has successfully integrated the two legacy businesses, leveraging best practices and making meaningful investments in the team, product and infrastructure. Through the partnership, New Harbor has supported the team in driving additional market share while continuously innovating to remain at the leading edge of the industry.