Renaissance Learning, Inc. (Renaissance) is a software and learning analytics company that makes cloud-based, K–12 educational software. Renaissance employs about 950 employees in nine U.S. cities and subsidiaries in Canada, the United Kingdom, and Australia. Renaissance’s products are used in U.S. schools and more than 60 countries around the world. Accelerated Reader, the companys flagship product, was created in 1985 by Judith and Terrance Paul, who founded the company in 1986 under the name "Advantage Learning Systems". Terrance, a lawyer and businessman, and Judith, a homemaker with a degree in elementary education, though she never taught school, began their software business in 1986 from the basement of their home in Port Edwards, Wisconsin. The companys name changed to "Renaissance Learning, Inc." in 2001. In August 2011, the company was sold to Permira, a European private equity firm, for a reported $455 million. In early 2014, CapitalG (formerly Google Capital) made a $40 million investment in the company at a $1 billion valuation. Later in 2014, Renaissance was sold to Hellman & Friedman for $1.1 billion. In 2016, Renaissance rebranded and dropped “Learning” from their name. Accelerated Reader, the companys flagship software, is "reading management software". It determines whether a student has read a book through comprehension quizzes and is computer-scored. Educators collaborate with students to set personalized reading practice goals based on their reading level. Students select books within their reading range, read independently, and then take short, computerized comprehension quizzes. After each quiz, educators and students are able to see progress toward reading goals.