Flat World Knowledge Secures $15M in Series B Funding
Published On January 20, 2011 |
Flat World Knowledge, an Irvington, NY-based publisher of free and open college textbooks for students worldwide, has secured $15m in Series B funding.
The round was led by Bertelsmann Digital Media Investments, and Bessemer Venture Partners, with participation from existing investors Valhalla Partners, GSA Venture Partners, High Peaks Venture Partners, and angel investors.
The company provides students with free online access to complete, peer-reviewed textbooks, with options to purchase affordable print and digital formats, including e-books, audio books, PDF downloads and interactive study aids.
Flat World intends to use the funds to continue to expand its catalog beyond business and economics to include books for the highest-enrolled courses on campuses. The company recently published titles for introductory sociology, introductory psychology and college success. Over the next few months, it will also publish textbooks for English composition, algebra, chemistry and American government, among others.
In conjunction with the funding, Keith Titan, a principal at BDMI, and Christopher Gabrieli, a partner at Bessemer Venture Partners, will join Flat World’s board.