Thursday 19 October 2017

Bono joins investors backing tech firm EverFi that tackles alcohol abuse and addiction

Bono and Ali Hewson. Picture: Arthur Carron
Bono and Ali Hewson. Picture: Arthur Carron
Ellie Donnelly

Ellie Donnelly

Bono has expanded his investment portfolio to include EverFi, a US based company which provides online courses in subjects ranging from alcohol addition, sexual assault prevention, and diversity and harassment prevention.

The company confirmed that they have raised $190m (€174m) to advance its vision for education innovation.

Other notable investors include Amazon ceo Jeff Bezos and Twitter co-founder Evan Williams.

“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,” EverFi co-founder and ceo Tom Davidson said.

The majority of the $190m came from the Rise Fund, a global fund committed to achieving positive, measurable social and environmental outcomes alongside financial returns.

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The Rise fund is managed by TPG Growth, and has attracted support from, among others, Bono, Richard Branson, and Laurene Powell Jobs, widow of Steve Jobs. While Arne Duncan, former US Secretary of Education has recently joined the fund as a senior advisor.

“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,” Davidson said.

“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,”Arne Duncan said.

EverFi works with more than 4,300 partner organizations and has reached over 16 million learners across the US and Canada.

The company also works with a number of universities to provide education on sexual assault prevention, wellness and mental health, and alcohol and drug use.

A spokesperson for Bono was contacted for comment.

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