Chicago-Based RedShelf Raises $15M to Expand Share of Higher Ed’s Digital Course Materials Market
RedShelf partners with colleges, publishers, and faculty to digitize and deliver required class materials to millions of students.
CHICAGO (03.07.23) —
Digital education solutions are in a stage of rapid growth. In its April 2022 report on the global digital education market, Technavio (technavio.com) estimates the digital education solutions sector will grow to USD 47 billion at a progressing compound annual growth rate of 12% between 2022 and 2026. Forty-seven percent of that growth will come from North America.
To help meet this growing demand, Chicago-based digital learning content provider RedShelf has secured an additional $15M of funding by expanding campus-wide delivery models (known as Inclusive Access and Equitable Access) that put more affordable, accessible, and effective digital textbooks and courseware solutions into students’ devices by the first day of class.
In February, the company released version two of RedShelf Manager, its digital content delivery platform, which establishes and rapidly expands these models across campuses. RedShelf digitizes learning content generated by publishers and creators, facilitates the material selection and pricing process between the publisher and the school, launches the content through the school’s Learning Management System, and allows the student to access the content on the company’s recently released version 7 of its award-winning eReader.
Born in a Lincoln Park, Chicago apartment in 2012, RedShelf set out on its journey to build a seamless, end-to-end content delivery platform long before most higher ed institutions realized they’d be providing a digital-first course materials experience to 100% of students. In total the company has raised $60M in funding. “Colleges and universities see that students need and want fully digital course materials options in 100% of classes,” said Greg Fenton, CEO. He added, “This funding will allow us to elevate awareness of our brand and implement these models to meet the digital-first future for all students even faster.”