Edrolo raises $40m by Blackbird, Airtree and 4 Superfunds

Education Company Edrolo has just raised a $40m series B fund  led by Blackbird Ventures , and supported by Airtree and a bevy of Superfunds including with Aware Super, HESTA, NGS Super and Telstra Super 

Who is behind Edrolo - and their startup story 

Edrolo’s team led by  Ben Sze, CFA, Jeremy Cox and Duncan Anderson are kicking goals in  Education

They left their jobs at Google and Goldman Sachs with the mission of helping spread the wisdom of our very best teachers and did this by creating curriculum-specific tutorial videos for final year high school studies. 

The Mission and Vision 

Edrolo’s mission is simple; to improve education. 

Their vision - to have one million Year 7 to 12 students using its resources by 2025 – 300% growth in just three years.

Ben Sze sums it up when speaking to Simon Thomson of Startup Daily 

“This is our reason for being, and a significant responsibility – something we don’t shoulder lightly. The Edrolo team, of almost 200 people, work on this every day. We believe we can make the biggest difference, and impact, by focusing on enhancing the 6,000+ hours a student spends in their secondary education.” 

What Edrolo does 

Edrolo has broken down the curriculum into its atomic parts to create content and resources and is now regarded as the core resource for teachers and students throughout each school day.

It has expanded video to encompass print textbooks and Edrolo Standard, a product combining interactive video theory, formative assessment, exam practice and rich data for teachers. 

Teachers are able to see where students get stuck and have through Edrolo the content and activities to make sure students progress and learn. 

Edrolo’s Market Share

 In 2021, hundreds of thousands of students watched over 71 million online videos and over 106 million pieces of content through Edrolo. 

Over 250,000 students in over 1,100 schools are using Edrolo, and the signal of love from these schools gets stronger every year. 

Blackbird’s view of its Investment 

Their first capital raise 10 years ago was  with Startmate and Blackbird - with the vision of going global from day 1 - and their investors are delighted and are continuing to support their growth with a series B capital raise 

Why did Aware Super Invest?

Jenny Newmarch said the fund is looking to invest in companies have a positive impact on its members in their daily lives. 

Edrolo is impacting millions of lives - in Australia and globally and have been instrumental in supporting teachers and students during school closures and Australia’s forced need to embrace remote learning.

“As the super fund for hundreds of thousands of Australian teachers, Aware Super is proud to invest in such a great Australian innovation story, supporting the essential work of our educators every single day.”

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