Andrew Spitty was teaching at Kerang Technical High School in northern Victoria when his frustration with the inconsistency in how students' understanding of the curriculum was judged across schools spurred him to create his business "Essential Assessment" 12 years ago.
He then went on to get more than 2500 primary and secondary school across Australia paying to use the online platform, which provides them with numeracy and literacy assessments and software to track how well students and the school are going.
Spitty has now sold Essential Assessment to New Zealand-based Education Perfect for a commercial deal worth about $40 million, as the only shareholder in the company, the AFR has reported.
Education Perfect sells a digital teaching and learning toolkit to schools around the world.
"There are always going to be mixed feelings when you grow something from a thought bubble into a successful business, I am however happy with the decision [to sell], and I feel like it is the next logical step for EA (Essential Assessment)," Spitty has told the AFR.
Spitty said he initially worked on Essential Assessment as a side hustle to teaching, and only stopped teaching for the business in 2015.
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