MELBOURNE, Australia--(BUSINESS WIRE)--Vivi International, the Australian EdTech start-up, today announced it has closed a funding round with New York-based investment group, Riverside Acceleration Capital (RAC). The funding will help fast-track Vivi’s expansion into the US market, where it aims to replicate the success and growth achieved in the Australian region.
The round was overseen by Melbourne-based independent financial advisory firm, Intrinsic Partners, and combines the RAC funding with investment from a syndicate of Australian investors keen to support growing technology companies.
This latest round sees Vivi reach AUD$6m in total raised capital over a four-year period.
“We are absolutely delighted with the financial backing and support shown by RAC. It’s a real vote of confidence in the business and the impact our software has had on the education sector,” says Lior Rauchberger, Vivi Founder. “We look forward to a long-term partnership that will help us continue to transform student engagement by delivering our classroom management solution to educators around the world.”
Vivi has achieved significant growth by regularly delivering new feature releases crowdsourced from the vast number of teachers and students who have integrated the solution into their daily routine. This has been achieved by creating a unique position in the market as the only solution of its kind dedicated solely to the education sector.
“We’re thrilled to be joining the RAC family, who are the ideal partner to help scale Vivi even faster,” says Natalie Mactier, Vivi CEO. “We have been overwhelmed by the reception from US schools and the capital raised in partnership with RAC will hyper accelerate our sales and marketing efforts with the goal to become the world’s leading classroom engagement platform.”
RAC invests in high-growth B2B software companies and provides funding and resources to support companies across their entire lifecycle. The organization is a part of The Riverside Company, a global private equity firm focused on the smaller end of the middle market, founded in 1988.
“Great software continues to enhance teaching methods and drive learning outcomes throughout the world. When combined with modern infrastructure it opens up an array of opportunities for exciting and innovative solutions. Vivi’s cloud-based technology is a great example of this by providing educators with tools to address a pressing need experienced in classrooms globally,” said Jim Toth from Riverside Acceleration Capital.
About Riverside Acceleration Capital
Riverside Acceleration Capital (RAC) provides flexible growth capital to expansion-stage B2B software and technology companies, through an investment structure that maximizes alignment while minimizing dilution. RAC is part of The Riverside Company, a global private equity firm focused on investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has made more than 600 investments. The firm's international private equity and structured capital portfolios include more than 100 companies. For more information, visit www.riverside.ac
Launched in 2016 with a goal to create the simplest and most intuitive classroom engagement solution in the world, Vivi provides teachers with classroom management tools that drive student productivity and monitor health and wellbeing.
Vivi’s screen mirroring solution sets teachers free to roam the classroom and interact with students, while enabling students to instantly share their screens with the class or small groups for immediate feedback.
Vivi surveys more than 125,000 active users each quarter to inform ongoing feature and product development. Features include screen mirroring, digital signage, emergency broadcast, formative assessment and student health and wellbeing checks.