Thrilled to announce a major new financing of $40M at EverFi. Excited to continue to expand our education network. pic.twitter.com/YCNepqh3jX
— EVERFI (@EVERFI) July 27, 2016
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.
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.
— Cofense (@Cofense) July 27, 2016
‘Twas a big day for money in #DCTech.