Chegg.com Secures $112 Million to Fund Growth in Online Textbook Rentals

FUND RAISING

Business: Chegg.com
Web: http://www.chegg.com
Location: USA, Santa Clara, CA
Region: North America
Description: Student textbook rental service

Contacts:

  • Osman Rashid, Chief Executive Officer and Co-Founder
  • Aayush Phumbhra, Senior Vice President of Operations and Co-Founder

Amount raised: $57,000,000 (in funding)

Link: Press Release 

Details: Chegg.com has closed a $57 million Series D equity funding, led by Insight Venture Partners. In addition, Insight Venture Partners also led a syndicate that has provided a $25 million credit facility, adding to the $30 million in debt facility recently secured from Pinnacle Ventures and TriplePoint Capital. As part of the funding event, Deven Parekh from Insight Venture Partners joins Chegg.com’s Board of Directors. Previos investors are Kleiner Perkins Caufield & Byers, Gabriel Venture Partners, Primera Capital and Foundation Capital.

Database Fund Raising – November 2009

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