There is increasing interest in thermally activated delayed fluorescence (TADF) in materials, and to understand its mechanism in the excited state dynamics. Recent challenges include color purity, efficient deep-blue emission, fast exciton decay lifetimes, high reverse intersystem crossing rates (k RISC ), low-efficiency roll-off in organic light-emitting diodes (OLEDs), and long device lifetimes. Here, a series of compounds having benzonitrile and carbazole rings are examined, that provide a detailed understanding of the excited states, and a guideline for high-performance TADF. A dense alignment of the excited states with several different characters within a small energy range results in high k RISC of >2 × 10 6 s −1 , while maintaining radiative rate constants (k r ) >10 7 s −1 . OLEDs based on the optimum compound exhibit a low-efficiency roll-off and a CIEy (y color coordinate of Commission Internationale de l'Éclairage) <0.4. TADF-assisted fluorescence (TAF) OLED exhibits a maximum external quantum efficiency of 22.4% with CIE coordinates (0.13,0.15). This work also provides insights for device engineering and molecular designs.