EverFi Acquires Outside The Classroom Creating Largest K-16 Education Platform for Critical Skills
WASHINGTON, March 30, 2011 /PRNewswire/ -- EverFi, Inc., the leading education technology platform addressing growing state mandates in new subject areas, today announced the acquisition of Boston-based Outside The Classroom, Inc., the provider of the largest online alcohol prevention course AlcoholEdu®.
"This is a huge win for EverFi and combined takes us to over 3,500 public high schools, private-secondary schools, and colleges and universities across the country in 2011," said EverFi Chief Executive Officer Tom Davidson. "Outside The Classroom's course is used by over one-third of all incoming college students standing as one of the largest online courses and student survey platforms in the world. We're trying to build a very important company in the education space and this is certainly a big step."
EverFi's technology platform is built to address growing state and post-secondary mandates in critical life areas such as Financial Literacy, Student Loan Management, Digital Literacy, Substance Abuse, Nutrition and Obesity, and other key issues. EverFi will continue to scale its model of partnering with private sector and foundation sponsors to underwrite the cost of this critically important education platform across all of its products.
Founded in 2000, Outside The Classroom is committed to alcohol prevention and addressing high-risk drinking among America's youth. Its online products, AlcoholEdu® for College and AlcoholEdu® for High School, are used in hundreds of high schools and over five-hundred college campuses, including the majority of the top 100 ranked schools in U.S. News & World Report. More than 3 million students to date have taken AlcoholEdu®, making it one of the largest online courses in the world.
In multiple independent academic studies on efficacy, Outside The Classroom's adaptive learning products have been shown to reduce the most dangerous consequences of drinking -- including drunk driving, blacking out, getting into physical fights, and missing classes. The company's client renewal rate exceeds 90% year-after-year demonstrating its customers' commitment to the AlcoholEdu® product.
"We're creating an entirely new network that accelerates innovation and technology in schools and colleges and equips students with 21st Century success skills," said Davidson. "With the Outside The Classroom acquisition, EverFi becomes the fastest growing K-12 and post-secondary platform adding over 200 schools and colleges per month."
Outside The Classroom will become part of EverFi, Inc. with its alcohol prevention division remaining under the leadership of Outside The Classroom Founder and Chief Executive Officer Brandon Busteed. "EverFi is the most exciting education company in the country for one reason: it has a vision for delivering the most important education of our time -- the critical life skills that make the difference between a healthy and successful human being and one who is not," said Busteed. "Outside The Classroom has always shared this vision, and we couldn't be more excited to join Tom and the EverFi team to boost millions of students into unlimited potential."
About EverFi, Inc.
EverFi is the leading education technology platform to teach, assess, and certify students in critical skills including Financial Literacy, Student Loan Management, Digital Literacy, Substance Abuse, and additional product areas to be announced in 2011. The company is already powering a national movement in 50 states that enables students to learn using the latest technology, including rich media, high-definition video, diagrams and avatars. EverFi's current products include The EverFi Financial Literacy Platform™, Buttonwood™ for Student Loan Management, and the Ignition™ Digital Literacy Platform.
EverFi is building an entirely new framework to finance and deliver content, technology and innovation into schools. The company boasts an integrated network of thousands of schools across the country that will incorporate the EverFi learning platform into their curriculum each year. EverFi teams with major corporations and foundations to provide the programs at no cost to the schools. The company is adding over 200 new K-12 schools and colleges per month onto the platform.
In September 2010, EverFi raised $11 million from New Enterprise Associates, Allen and Company, Tomorrow Ventures, the investment vehicle for Google Chairman Eric Schmidt, and leading CEOs such as Michael Chasen, CEO of Blackboard. Learn more at www.everfi.com
SOURCE EverFi, Inc.
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