Media group Advance Publications was among the investors in a $190m series D round for US-based digital education provider EverFi yesterday that was led by impact investor Rise Fund.
Rise Fund provided $120m for the round while TPG Growth, the subsidiary of private equity group TPG that leads Ride, provided $30m according to Fortune. Main Street Advisors, Allen and Company, and private investors including Jeff Bezos, Eric Schmidt and Evan Williams also took part.
Founded in 2008, EverFi has built a subscription-based digital learning platform that serves a network of more than 4,200 partners across North America.
The company’s courses cover conventional areas such as the STEM (science, technology, engineering and mathematics) subjects as well as social and emotional learning, financial education, alcohol responsibility, and sexual assault and harassment prevention.
The series D round comes less than a week after EverFi acquired compliance training provider Workplace Answers for an undisclosed amount.
Advance Publications had previously contributed to the $40m round EverFi closed in July 2016, investing together with Bezos Expeditions, Allen and Company, New Enterprise Associates, Tomorrow Ventures, Rethink Education, Rethink Impact, Silicon Valley Bank and Warhorse.
The round increased EverFi’s overall funding to approximately $252m, according to press releases and securities filings. A source suggested to Fortune that it was closed at a sub-$1bn valuation.