RedShelf, a Chicago, IL-based educational software company, closed a $4m Series B funding.
The round was led by Rick Patterson of Coniston Capital with participation from existing investors including the National Association of College Stores (NACS). In conjunction with the funding, Rick Patterson joined RedShelf’s Board of Directors.
The company will use the funds for new product development, feature enhancements to its existing cloud-based eReader platform, and team expansion. It will hire 14 additional full-time staff members to develop new software and enhance relationships with publishers and educational institutions.
Launched in 2012, RedShelf uses a browser-based eReader solution to provide learning materials to students everywhere. As a leading supplier of digital learning materials, the company partners with strategic publishers, institutions, and campus bookstores to streamline the discovery and distribution of eBooks and other digital course materials for students.
Today, the company partners with 500+ college and university bookstores, offering students digital content from 600+ publishers at up to 60% off the cost of print.