EverFi Raises $40 Million in Funding from Major Technology Leaders
Investors Include Jeff Bezos, New Enterprise Associates, Tomorrow Ventures, Advance Publications, and Rethink Impact
WASHINGTON, July 27, 2016 /PRNewswire/ -- EverFi, Inc., the software leader in critical skills learning, today announced $40 million in new funding. The round was led by current investors Bezos Expeditions (an investment arm of Amazon founder and CEO Jeff Bezos), New Enterprise Associates, Tomorrow Ventures (an investment arm of Google Executive Chairman Eric Schmidt), and Rethink Education. Advance Publications, Rethink Impact, and Silicon Valley Bank are new investors and join a group that includes Allen and Company and Warhorse.
Founded in 2008 and fueled by its Software-as-a-Service (SaaS) subscription model, EverFi has certified over 14 million learners in critical skill areas that life and work demand. EverFi's subscription-based network includes one of the most diverse customer groups in the technology industry with over 3,300 financial institutions, technology companies, sports leagues, foundations, and higher education institutions. Together with these partners, EverFi powers proven digital learning for adults, college students, and K-12 students in 90 of the 100 largest K-12 school districts across North America.
EverFi recently announced the acquisition of compliance education leader LawRoom, which grows EverFi's higher education customer count to 1,300 institutions and also adds over 1,500 enterprise compliance customers.
"EverFi has created one of the most powerful and innovative models in the education space," said EverFi Founder and CEO Tom Davidson. "Our goal is to be the learning engine of every major corporation, university, and school district around these critical topic areas."
EverFi's proprietary learning platform Foundry delivers immersive digital learning experiences and assesses learners' knowledge and attitudes on important skills, including financial education, STEM career readiness, entrepreneurship, alcohol responsibility, sexual assault prevention, social and emotional learning, and employee compliance. Foundry's powerful data engine tracks learner knowledge and behavior change – providing customers with valuable impact data to drive business decisions and achieve compliance goals.
"With its proprietary learning platform, incredibly diverse and growing customer base, wide learner reach, and highly profitable financial model, EverFi has become a major player in the education industry," said Michael Walden, a Partner at Rethink Education. "We're very excited to be a part of EverFi's continued growth."
About EverFi, Inc.
EverFi, Inc. is the education technology innovator that empowers K-12, higher education, and adult learners with the skills needed to be successful in life and work through its comprehensive critical skills platform focused on Financial Education, Digital Citizenship, STEM Career Readiness, Diversity and Inclusion, Entrepreneurship, Character Education, and Health and Wellness. The EverFi Education Network is powered by over 3,300 partner organizations across all 50 states and Canada and annually reaches over 6 million learners. Learn more at everfi.com.
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SOURCE EverFi, Inc.
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