Value: $40 million

Deal: LegalVision has advised venture capital firms Blackbird and AirTree Ventures on their investments in edtech start-up Edrolo. The Series B round was led by Blackbird with participation from AirTree Ventures and super funds Telstra Super, Hesta, NGS and Aware.

Area: Corporate

Key players: The LegalVision team was led by Jill McKnight (practice leader).

Deal significance: Edrolo’s mission is to improve the resources and content used by schools for teaching and learning, to ensure every student reaches their full potential. Currently, more than 1,100 schools and 250,000 students use Edrolo each year. In 2021, over 106 million pieces of online Edrolo content were viewed by teachers and students.

Edrolo’s Series B capital raise will allow the edtech start-up to expand its offering to students in Years 7 to 10, with the goal of having 1 million Year 7 to 12 students using its resources by 2025.

Ms McKnight expressed her belief in the importance of the project. She said that “Edrolo’s work in high schools is inspirational, and it’s wonderful to see Blackbird and AirTree supporting their initiatives yet again in this Series B round. It was our pleasure to once again advise Blackbird and AirTree, and we look forward to seeing the impact of their investment in Edrolo.” 

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Niki Scevak, partner at Blackbird, said, “Edrolo has an opportunity to increase the education standards of our entire country, and we’re proud to continue backing their team as they make a system-wide impact. We thank Jill and LegalVision, once again, for their strong support and quality advice on yet another outstanding investment opportunity.”