Posted by: Providence Chamber of Commerce | August 17, 2012

PC Grads help effort to redefine education technology ~ EverFi Secures $10 Million in Funding from Technology Leaders Jeff Bezos, Eric Schmidt, Rethink Education, and Evan Williams

Providence College alums Austin Rotondo ’11 and Kyle Hill ’06, members of the EverFi engineering team in Washington, DC are celebrating a huge milestone with their colleagues, as they work to redefine education technology.

EverFi, Inc. the leading education technology company for critical skills, announced that they are the recipient of  $10 million Series B funding by some of America’s leading CEOs and venture capital firms, including Amazon founder and CEO Jeff Bezos, Twitter founder Evan Williams, and Rethink Education. Also joining in this financing are existing investors New Enterprise Associates, Inc. (NEA), Tomorrow Ventures (the investment arm of Google Chairman Eric Schmidt), Allen and Company, and Blackboard CEO Michael Chasen. EverFi had previously raised $11 million in 2010.

EverFi has built one of the fastest-growing education networks in the U.S. and has certified more than 4 million students in critical life skills. EverFi builds gaming and education platforms that focus on the tough issues facing students, including financial literacy, student loan management, digital literacy, cyberbullying awareness, online safety, alcohol abuse prevention, sexual assault awareness, and new skill areas to be announced in 2012. The EverFi platform also assesses students’ knowledge gain and their attitudes and behaviors on these important topics, creating a powerful data engine that can drive learning.

EverFi is the architect of a groundbreaking financing system for innovation in schools by networking together over 750 unique Fortune 500 corporations, leading foundations, and university partners to pay 100% of the cost for schools and students. Partners include Burger King, BBVA Compass, Capital One, Genworth Financial, Neustar, PepsiCo, the John Calipari Family Foundation, and U.S. Bank.

“These are critical issues that put enormous pressure on students and families, and the validation from these investors speaks to that importance,” said Tom Davidson, EverFi Chief Executive Officer. “Our new investors have collectively built some of the most powerful networks in the world, and that experience will be extremely helpful as we build ours. If we succeed, we can quite literally change the trajectory of the lives of millions of students. It’s important that we do.”

“EverFi has built something entirely unique in the education space,” said Michael Walden, a Partner at Rethink Education.“ Forty percent of all students entering college in the U.S. this year will have completed an EverFi course. That is huge reach combined with a very profitable, data-driven model. We expect EverFi to become one of the major players on the education landscape.”

EverFi is in the process of introducing their program for incorporation in Rhode Island schools.

About EverFi
EverFi, Inc. is the leading education technology company focused on teaching, assessing, and certifying K12 and college students in critical skills. The company teams with major corporations and foundations to provide the programs at no cost to K-12 schools. EverFi operates in over 3,800 schools in the United States including 46 of the 100 largest school districts. Learn more at www.everfi.com


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