Parchment Raises $6M in Series C Funding
Parchment, a Scottsdale, Arizona-based credentials data venture, has raised $6m in Series C funding.
The round was led by Salmon River Capital LLC, with participation from Michael Chasen, President and CEO of Blackboard Inc., Novak Biddle Venture Partners and other existing investors.
The company intends to use the funding for product development, employee recruitment, and expansion in the higher education market.
Founded in 2003 by education technology entrepreneur CEO Matthew Pittinsky, Ph.D., Parchment works with institutions and corporations around the world helping people collect, promote, and share their education credentials in simple and secure ways.
Parchment.com allows students to research colleges and discover their chances of admission, see how they compare with peers, get college recommendations, and send official transcripts when they are ready to apply. The company’s SaaS offering – Docufide® by Parchment™- is a transcript exchange and intelligence platform, which enables the exchange of electronic transcripts and other student records among nearly 9,000 schools and universities, six state education agencies, and hundreds of thousands of individuals.
Parchment has offices in Los Angeles, Calif.