BookRenter Raises $40 Million To Take On Chegg In Textbook Rentals
Summary
BookRenter raised $40 million from several investors, bringing its total funding to $60 million. The company uses that capital to expand its textbook rental platform and add new product capabilities. It also deepens partnerships with college bookstores and the National Association of College Stores to widen distribution. BookRenter plans a new digital strategy over the next 18 months that will change how students consume content and how professors design courses.
Funding
Amount
$20.0M
Total raised
Date
February 23, 2011
Announcement date
Investors
Chegg, Lighthouse Capital Partners, Storm Ventures, Comerica Incorporated, Kortschak Investments, L.P., Adams Capital Management, National Association of College Stores, Focus Ventures, Ozie Group LLC, Norwest Venture Partners
Lead investors
Company
http://www.rafter.com
Funded company
Classifications
industries
No industries detected
applications
Accounting and Taxes
AskAI Classifications
Labels
Education Software
SaaS
Consumer Apps
Linked Companies
Chegg
$500M to $1B