RedShelf, Inc., a Chicago, IL-based distributor of digital course materials in higher education, closed a $25m Series C financing.
The round was led by an entity advised by DNS Capital, with participation from former COO and CTO of Morningstar Tao Huang, CEO of Trading Technologies Rick Lane, and Executive Chairman and co-founder of Shiftgig Eddie Lou. In conjunction with the funding, Managing Director of DNS Capital, Charles Tollinche, will be joining RedShelf’s Board of Directors.
The company intends to use the funds to accelerate employee growth, product innovation, customer service, and expansion within the higher ed market.
Founded in 2012 by CEO Greg Fenton, RedShelf provides a distributor of digital learning materials in higher education. The company collaborates with publishers, institutions, campus bookstores, and strategic partners to provide the technology to accelerate the transition to digital and make learning materials more accessible and affordable.
It currently partners with over 600 campus bookstores and offers more than 500,000 digital titles across 400 publishers.
Its product suite currently includes:
- A web-based eReader solution on which students access their digital textbooks anywhere, from any device
- A content delivery program that provides students access to affordable digital course content on their first day of class
- A customizable solution for in-store and eCommerce transactions
- An independent tool that streamlines the adoption process between bookstores and professors