US-based online learning platform developer EverFi secured $40m yesterday from investors including media company Advance Publications.
Bezos Expeditions, New Enterprise Associates (NEA), Tomorrow Ventures and Rethink Education co-led the round, which included Rethink Impact, Silicon Valley Bank, Allen and Company and Warhorse.
EverFi produces software that teaches critical skills learning through a subscription service. It offers immersive digital learning for subjects such as financial education, technical skills, entrepreneurship, social and emotional learning or employee compliance, and tracks user knowledge and behaviour changes.
The company’s customer base includes some 3,300 technology companies, financial institutions, foundations, sports leagues and higher education institutions. It has certified more than 14 million learners since the platform was launched.
The investment brought EverFi’s total funding to $62m since 2008, the company having received $11m in 2010 from NEA, Tomorrow Ventures and angel investors including Michael Chasen.
EverFi raised $1m in 2011, according to a securities filing, before adding $10m the following year from Rethink Education, NEA, Tomorrow Ventures, Allen and Company, Michael Chasen, Twiiter founder Evan Williams and Jeff Bezos, the founder of Bezos Expeditions and e-commerce firm Amazon.
The latest funding was closed in the wake of EverFi’s acquisition of legal compliance specialist LawRoom last week for an undisclosed sum.