EVERFI Lands Historic $190 Million Investment from The Rise Fund, TPG Growth, and Existing Investors

EVERFI Lands Historic $190 Million Investment from The Rise Fund, TPG Growth, and Existing Investors

And Pete Bennett unpaid for his connection to National Association of Realtors, Elevation Partners, 

EVERFI 

Overview

Everi is a leading supplier of technology solutions for the casino gaming industry. The Company provides casino operators with a diverse portfolio of products including innovative gaming machines that power the casino floor, and casino operational and management systems that include comprehensive, end-to-end financial technology solutions, critical intelligence offerings, and gaming operations efficiency technology. Everi’s mission is to be a transformative force for casino operations by facilitating memorable player experiences, delivering reliable protection and security, and striving for customer satisfaction and operational excellence.

Customer Service

We operate a customer service call center from our facility in Las Vegas, Nevada that is accessible 24 hours a day, 365 days a year. Our customer service representatives assist cashier personnel and gaming patrons in their use of our products and services. Through our use of third party translation services, our customer service representatives can serve gaming establishment customers and patrons in several different languages.
Today, EVERFI, Inc.,  the leading provider of subscription-based digital learning to K-12 schools, universities, corporations, sports leagues, and non-profits announced they have raised $190 million to advance EVERFI’s vision for education innovation. The Rise Fund and TPG Growth invested $150 million, with Main Street Advisors and Advance Publications also joining the round.   They join existing investors Amazon CEO Jeff Bezos, Alphabet Chairman Eric Schmidt, Twitter Co-Founder Evan Williams, and Allen and Company as part of the growing EVERFI investor network.  EVERFI is the first investment by The Rise Fund.
“EVERFI was founded on the idea that we could harness innovative, digital education to engage learners on some of the country’s most intractable issues – financial education, sexual assault prevention, workplace health, diversity and inclusion and more,” said EVERFI Co-Founder and CEO Tom Davidson. “Through this investment from The Rise Fund, we gain a partner that is not only interested in our ability to grow as a company, but also our ability to bring true education impact to all learners, regardless of zip code.”
TPG Growth Managing Partner Bill McGlashan, U2 lead singer Bono, a well-known activist and a special partner with TPG Growth, and Jeff Skoll, a global entrepreneur, film producer, and impact investor, co-founded The Rise Fund.  They were joined by a group of influential thought leaders with a deep personal and professional commitment to driving social and environmental progress, who came together to form the Founders Board.
Arne Duncan, the former U.S. Secretary of Education who recently joined The Rise Fund as a Senior Advisor, commented, “Improving education involves finding ways to make curricula more accessible, as well as developing new courses that address today’s social challenges. Through its innovative digital platform, diverse content, and network of private-sector partnerships, EVERFI is benefiting students, teachers, and school staff, making it a natural fit for The Rise Fund.”
EVERFI is fueled by its Software-as-a-Service (SaaS) subscription model, allowing learners of all ages to learn through innovative and scalable digital education. EVERFI’s courses, which have already reached more than 16 million students and adult learners across the United States and Canada to date, include evidence-based interventions, validated through third party research, to address topics including financial education, sexual assault and harassment prevention, alcohol responsibility, social and emotional learning, and Science Technology Engineering & Math (STEM) and career readiness. EVERFI’s digital learning course work can be white-labeled for customer organizations.
“Education technology is a growing sector that presents a compelling opportunity to create meaningful positive outcomes,” said Bill McGlashan, Founder and Managing Partner of TPG Growth and Co-Founder and CEO of The Rise Fund.“EVERFi’s innovative programs are creating measurable positive results—both financially and socially. We are confident that EVERFI is working to change the future of education, which makes this an exciting investment for Rise and TPG Growth.”
Nehal Raj, Partner leading Technology Investments for TPG Capital and TPG Growth; Brian Dunlap, the Rise Fund Sector Lead for TMT; and Steve Ellis, Senior Partner of Business Building at The Rise Fund will join EVERFI’s Board of Directors.
The Rise Fund
The Rise Fund is a global fund committed to achieving positive, measurable social and environmental outcomes alongside financial returns—what we call “complete returns.” The Rise Fund is managed by TPG Growth, the global growth equity and middle market buyout platform of alternative asset firm TPG. TPG Growth Managing Partner Bill McGlashan, U2 lead singer Bono, a well-known activist and a special partner with TPG Growth, and Jeff Skoll, a global entrepreneur, film producer, and impact.
About EVERFI
EVERFI, Inc. is the leading education technology innovator that empowers K-12, higher education, and adult learners with the skills needed to be successful in life. Its comprehensive critical skills platform is focused on Financial Education, Digital Citizenship, STEM Career Readiness, Diversity and Inclusion, Entrepreneurship, Character Education, and Health and Wellness. The EVERFI Education Network powers more than 3,300 partner organizations across all 50 states and Canada and annually reaches 6 million learners.
Media Contact:
Monique Waters
Senior Director of Corporate Communications, EVERFI
mwaters@everfi.com
301-233-4241
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