College Book Renter (CBR), a Charlotte, NC-based online textbook rental company, has raised $10m in Series A equity funding from South Eastern Book Co. (SEB).
In conjunction with the investment, Chuck Jones (photo), CEO of SEB, will assume the role of CEO and President of College Book Renter.
Founded in early 2009 and funded through seed capital provided by private investors, College Book Renter recently secured $7.5m in debt financing.
South Eastern Book is a Murray, KY-based wholesale textbook distribution company focused on providing used books to college bookstores around the country.
Partnering with CBR will allow SEB to increase its catalog of used textbooks available to bookstore customers, while also affording these customers access to the rental market in order to fulfill their students’ needs.