Edovo Revenue and Competitors

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Chicago, IL USA

Location

$15M

Total Funding

Education

Industry

Estimated Revenue & Valuation

  • Edovo's estimated annual revenue is currently $8.9M per year.(i)
  • Edovo received $9.8M in venture funding in April 2018.
  • Edovo's estimated revenue per employee is $156,600
  • Edovo's total funding is $15M.

Employee Data

  • Edovo has 57 Employees.(i)
  • Edovo grew their employee count by 14% last year.
Competitor NameRevenueNumber of EmployeesEmployee GrowthTotal FundingValuation
#1
$202.4M803N/AN/AN/A
#2
$11M68N/AN/AN/A
#3
$384.6M1526N/AN/AN/A
#4
$202.4M803N/AN/AN/A
#5
$505.3M2005N/AN/AN/A
#6
$43.2M2180%N/AN/A
#7
$5448.2M21620N/AN/AN/A
#8
$71.1M3160%N/AN/A
#9
$38.4M194N/AN/AN/A
#10
$147.4M655-8%N/AN/A

Our mission is to help everyone connected to incarceration build better lives. Offering the largest library of educational, vocational and social-emotional learning programming in the industry, behavior management tools for facilities, and communication tools for incarcerated individuals, Edovo fosters a culture of rehabilitation while providing administration and staff with the tools to streamline facility operations and engage their incarcerated population. Users can now gain daily access to courses that lead to tangible achievements, K-12/GED courses, college credit, vocational certificates, and inspire better outcomes. These opportunities, blended with our unique incentive system that uses entertainment as a motivator, has led to an industry leading 80%+ week to week user engagement, more than double the industry average. Learners can take courses at their own pace, making the system ideal for all kinds of learning styles. Edovo is committed to closing the programming gap behind bars, decreasing recidivism and improving opportunities for those who are affected by incarceration. Our tablet solution provides meaningful daily access to education and increased communication with external support systems to better prepare incarcerated people for re-entry and improve public safety. Our goals are to reduce the national recidivism rate, make reentry easier on people who were incarcerated, and for every person who uses Edovo to be able to create opportunities for themselves and others. Some background information: Costs Over $80B is spent annually on jails and prisons at the county, state, and federal level An additional $175B is spent annually on the courts and police required to support jails and prisons Recidivism More than 50% of those incarcerated will return to jail or prison after release Education Participation in educational programming reduces recidivism by 43% Communication Incarcerated people who are able to connect with support networks while incarcerated have better success after being released. Savings Investment of $1 in educational programming will save taxpayers $5

keywords:Impact Investing, Social Innovation, Government Innovation, Edtech

$15M

Total Funding

57

Number of Employees

$8.9M

Revenue (est)

14%

Employee Growth %

N/A

Valuation

N/A

Accelerator

Edovo News

2018-04-05 - Inmate Education Startup Edovo Raises $9.8M

Chicago-based startup Edovo, which provides tablet-based education to inmates in an effort to reduce recidivism, has raised a new round of funding to help it expand its program to correction facilities across the country. The company raised $9.8 million in a Series A round from several social i ...

2018-04-08 - Edovo raises $9 million to provide incarcerated people with tablet-based education

Edovo, a tablet-based education startup for incarcerated people, has raised $9 million from Impact Engine, Lumina Foundation, Kapor Capital and others. Edovo works with facilities to bring in secure wireless networks and tablets that access Edovo’s educational platform. The incentive-based lear ...

2018-04-09 - Edovo Raises $9.8M in Series A Funding

Edovo, a Chicago, IL-based social impact startup focused on prison and jail education and communication, closed their A-3 raise with over $9M in funding. Investors included Impact Engine (Chicago), Lumina Foundation (Indiana), SustainVC (East Coast), IDP Foundation (Chicago), Evolve.Foundation ...

01/09/2019 - Maine Department of Corrections Partners With Edovo to ...

AUGUSTA, Maine, Jan. 9, 2019 /PRNewswire/ -- The Maine Department of Corrections is advancing the use of technology to prepare offenders ...

02/25/2019 - Can Edtech Behind Bars Help Keep People Out?

One of the newer entrants to this market is Edovo, which offers a tablet-based educational platform for prisons with the explicit goal of ...

02/27/2018 - US-based digital learning platform Edovo equips prisoners ...

Chicago-based Edovo is live in close to 50 correctional facilities across 20+ states in the US. Edovo's educational suite hosts tens of thousands ...

Company NameRevenueNumber of EmployeesEmployee GrowthTotal Funding
#1
$7.4M5721%N/A
#2
$10.4M5727%N/A
#3
$13.9M57-17%N/A
#4
N/A572%N/A
#5
$6.2M5724%N/A

Edovo Funding

DateAmountRoundLead InvestorsReference
2018-02-02$0.2MUndisclosedTwilioArticle
2018-04-09$9.8MUndisclosedMultipleArticle