International test prep service provider Kaplan announced earlier that it has purchased the social learning platform and test prep assets of Grockit for an undisclosed amount. GSV Advisors was hired to advise Grockit on the financial aspects of the transaction.

Grockit Inc., which was founded in 2007, is a San Francisco, California-based company which provides social learning applications and technnologies to help students prepare for various tests including ACT, SAT, GMAT, LST and GRE. The company is re-introducing itself into the market as Learnist and has expanded its focus to the development of other learning products.

"We've long recognized the Grockit team as innovators in social learning and gamification, and the company's initiatives are consistent with our efforts to improve student outcomes through learning science," remarked Kaplan Test Prep Executive Vice President Rochelle Rothstein. "As we seek to better understand the role of social learning and gamification in test prep effectiveness, the acquisition of Grockit branded assets accelerates our efforts. We're looking forward to exploring platform synergies to improve our student experience."

Learnist (Grockit) is currently supported by investors Benchmark Capital, Atlas Venture, Integral Capital Partners, GSV Capital, Discovery Communications and NewSchools Ventures.