Edovo Raises $9.8M in Series A Round to Help Reduce Recidivism Through Improved Education & Communication Services
CHICAGO (PRWEB) April 09, 2018 -- Edovo, a Chicago-based social impact startup focused on prison and jail education and communication, has closed their A-3 raise with over $9M in funding. The investors behind this funding round are all social impact investment groups who are aligned with Edovo’s mission: to help everyone connected to incarceration build better lives.
Investors include: Impact Engine (Chicago), Lumina Foundation (Indiana), SustainVC (East Coast), IDP Foundation (Chicago), Evolve.Foundation (Bay Area), Kapor Capital (Bay Area), and Ekistic Ventures (Chicago).
With an emphasis on social impact, these investors are focused on reforming the correctional industry alongside Edovo. Edovo works to improve the lives of incarcerated individuals across the country, making communication and education more accessible and affordable in the correctional industry.
Edovo provides educational, vocational, and rehabilitation programming, as well as a suite of communication tools and re-entry resources. The program is delivered via secure tablet technology in order to help the incarcerated population better prepare for release and reintegration into their communities. Research from the RAND Corporation has shown that education reduces recidivism by 43%, and Edovo’s powerful solution provides meaningful daily access to education and increased communication in order to further drive these outcomes.
The company plans to use the additional funding to continue to scale their program to correctional facilities across the nation and deliver improved educational opportunities and affordable communication services to more of the incarcerated population.
“We're excited to put these funds to work in order to not only build our team, but also expand our software capabilities and find new ways to serve the diverse body of those affected by incarceration," says Bran Hill, CEO of Edovo.
Headquartered in the heart of Chicago’s River North neighborhood, Edovo doubled their reach in 2017, impacting over 50K+ incarcerated individuals, and is on track for continued growth in 2018. Now expanded to 22 states and counting, their platform has measurably decreased incidents of violence and increased safety at their partnered facilities.
About Edovo:
Every year, 12 million people in the U.S. will see the inside of a jail or prison cell. Although education and communication with loved ones are well-documented ways to keep people out of jail, most incarcerated individuals don't have regular access to programming. Since launching in 2014, Edovo has been building technology solutions to support positive outcomes for incarcerated individuals and their families, correctional facilities, and affected communities. Edovo's digital platform provides educational and vocational programming, low cost communication services, and re-entry preparation for justice-involved people and their loved ones. Edovo is composed of passionate entrepreneurs, technologists, creators, and educators with a firm belief in a smarter, safer justice system for all.
Cara Lutz, Walker Sands Communications, https://www.walkersands.com/, 312-561-2484, [email protected]
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