Flat World is among the tech firms working to make college textbooks cheaper. Today, the company announced that it has secured $9.5 million in a funding round led by Bessemer Venture Parnters. Valhalla Partners, Bertelsmann Digital Media Investments, and Tribeca Venture Partners also participated in the financing, wrote VentureBeat.
The latest round brings Flat World's raised capital to a total of $35.7 million. The company will use the fresh capital to expand its market reach, add new materials, and develop new products, said the report.
The Washington, DC-based company provides digital textbooks for college and university programs. All of the content the firm uses are from authors who are experienced in teaching, textbook writing, and research. After the firm receives reviews and professional editing for its content, books are then published under the creative commons license. The company has over 100 textbooks in math, science, humanities, business, economics, and other subjects, under its catalog, the report detailed.
The tech firm aims to make educational books more affordable and accessible for students. The company also wants to give teachers a way to be more flexible with the material they use in teaching, VentureBeat reported.
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