US-based e-textbook provider RedShelf has received $4m in series B funding from trade association National Association of College Stores (NACS) and investment fund Coniston Capital, TechCrunch reported today.
Launched in 2012, RedShelf operates a platform through which students can access digital textbooks. It serves more than 500 institutions, is supplied by more than 600 publishers, and estimates it can save students over 60% compared to the price of printed course materials.
The funding will support product development, particularly with regard to RedShelf’s cloud e-reader technology, and the expansion of its content partnerships.
NACS previously contributed to RedShelf’s $2m series A round in January 2015, investing alongside undisclosed existing backers.