The COVID-19 pandemic is by far the largest disruption witnessed by education systems in the 21st century. At the peak of the first wave, school closures affected over 90% of all learners worldwide. This placed educators in a challenging teaching environment, and put millions of households under economic stress. The learning loss and the heightened risk of student disengagement, particularly for the most vulnerable, can have long-lasting effects on their life outcomes and future economic growth and well-being. Yet, beyond the recovery phase, the COVID-19 pandemic has shed light on the need to explore new approaches in education delivery from pre-primary to higher education. These include a wider range of cognitive, social and emotional skills in the curricula; the active involvement of parents in their children’s education; and the adoption of technologies that allow for flexible and personalised learning. However, with a rapidly evolving situation, many philanthropic donors are making quick disbursements of funds, redirecting committed resources to new issues, and in some cases, redefining their mid- and long-term strategies. However, the lack of reliable information has limited foundations’ potential to engage, collaborate and co-fund education initiatives to address the COVID-19 pandemic.