Education Brands Acquires Diamond Mind
Education Brands, a leading software provider to the education industry and a portfolio company of Genstar Capital, has acquired Diamond Mind, the leader in campus-wide payment solutions for independent schools.
Founded in 2003, Diamond Mind is the nation’s leading provider of payment processing software and services for independent K-12 schools, serving over 1,200 schools, including approximately half of the largest 50 private K-12 schools in the country. The company’s suite of products allows school business officers to consolidate, streamline, and reconcile payments across the campus to reduce costs, minimize risk, and improve the payment experience for parents. Diamond Mind’s offerings include solutions for online tuition, online giving, admissions, bookstore, summer programs, and purchase cards.
Diamond Mind was sold by Serent Capital which invested in Diamond Mind in 2014 after several years of researching and looking at opportunities in the education and payment processing markets. Over the last two years, Diamond Mind has successfully built-out its software portfolio, enhanced its customer acquisition engine, and grown its senior executive team. As a result, Diamond Mind has increased revenue nearly 60%, while increasing its client base by over 400 schools since Serent Capital’s 2014 investment.