Edtech company IPOs used to be practically nonexistent—until this year.

Increased adoption of online learning technologies amid the pandemic, combined with strong public market conditions, has paved the way for a bevy of notable public exits in the category.

Learning platform  debuted on the NYSE in late March with a valuation of over $4 billion. A few months later, foreign language education app Duolingo hit the Nasdaq with a valuation of $3.7 billion. And just last week, , an education marketplace that offers online classes focused on business and technical skills, went public with an initial market value of more than $4 billion.

In the meantime, Nerdy, the parent company of Varsity Tutors, went public via a SPAC in a deal valued at about $1.7 billion. And PE-backed PowerSchool, a software company serving K-12 institutions, was valued at roughly $3.5 billion following the pricing of its IPO.

These are significant outcomes for any newcomers to Wall Street, but especially for a sector that struggled to gain wide acceptance among venture capitalists before the pandemic.

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