Big: DC's EverFi raises $40 million Series C - Technical.ly DC

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Jul. 28, 2016 11:05 am

Big: DC’s EverFi raises $40 million Series C

And that isn't even the only major funding announcement that was made on Wednesday.

Members of the EverFi team.

(Photo via Twitter)

EverFi, the edtech company with headquarters near the Georgetown waterfront, announced on Wednesday that it has raised $40 million in Series C funding. The news first appeared in Fortune.

The round, undeniably hefty for #DCTech standards, was led by two investors with big names: Jeff Bezos (via his investment arm Bezos Expeditions) and Eric Schmidt (via his investment arm Tomorrow Ventures), as well as New Enterprise Associates and Rethink Education.

Founded in 2008, EverFi has raised $61 million to date (including the most recent round), according to Fortune. The company creates software used in K-12 as well as at the university and adult education levels to assess students in “critical skills needed for life.” These skills include areas like “financial capability” and “STEM readiness” and more.

“EverFi has created one of the most powerful and innovative models in the education space,” said EverFi founder and CEO Tom Davidson said in a statement. “Our goal is to be the learning engine of every major corporation, university, and school district around these critical topic areas.”

The company works on a SaaS subscription model, and while Davidson declined to comment on precise revenue, he told Fortune that the business is profitable.

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EverFi’s announcement wasn’t all for the region, though — elsewhere in Virginia the anti-phishing software company PhishMe announced a $42.5 million Series C, led by Paladin Capital Group. The company previously raised $13 million in a Series B.

‘Twas a big day for money in #DCTech.

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