Education Tech | January 4, 2022

TPG Rise sells its stake in EverFi to Blackbaud

David Bank
ImpactAlpha Editor

David Bank

ImpactAlpha, January 4 — EverFi, which sells subscription packages to schools and companies for training on sexual assault and harassment prevention, social and emotional learning and career readiness and other topics, was the Rise Fund’s first investment in 2017 (see, “TPG’s Rise Fund comes out of the gates with a big edtech investment in EverFi”).

At the time, TPG Rise committed $120 million, with another $30 million from TPG itself, for a majority stake. Blackbaud acquired the Washington, D.C.-based educational software company for approximately $750 million, suggesting that TPG Rise more than doubled its initial investment.