RedShelf, a Chicago-based edtech startup announced recently that it has raised $15 million from the investors undisclosed.
The fresh funding comes after various successful rounds, which have netted the company $43.1 million since its launch.
According to Greg Fenton, RedShelf CEO and co-founder, the fresh capital will be used for taking their newly released version of platform and getting it in more campuses.
Founded in 2012 by Greg Fenton and Timothy Haitaian, RedShelf is an e-book marketplace used by universities and students. Through RedShelf’s online marketplace, students can purchase or rent digital textbooks needed for their courses. The company works with over 10,000 book publishers and content creators to digitize textbooks and make them available on its platform.
It is reported that the $15 million funding round comes shortly after the company released version two of RedShelf Manager, an end-to-end platform that integrates with university systems and enables students and instructors to access required course materials through their school’s bookstores.
“RedShelf Manager works between the publisher, the student and the university to digitize the course materials that the professors and instructors choose,” Fenton said. “We put that power at the fingertips of the course materials manager and the bookstore manager to operate that system.”