Chegg Raises Another $25 Million In Venture Funding


Fremont: Chegg, the social education platform has raised $25 million in equity funding according to a regulatory filing. The company sold equity to raise the funds. This equity funding round includes participation from 17 investors.

Earlier the company had raised $221 million across a combination of equity and debt funding rounds that was led by Insight Venture Partners, Gabriel Venture Partners, Ace Limited, Pinnacle Ventures, and Kleiner Perkins Caufield & Byers.

The Santa Clara-based company that was Co-founded in 2005 by Aayush Phumbhra and Osman Rashid ,Chegg that is led by Dan Rosensweig the CEO, gives students studying at more than 7,000 colleges nationwide a way to rent and order textbooks online. The service has 4.5 million users, and has been aggressively working to support digital textbooks in recent months.

It also offers course reviews and homework help, and refers to itself as a “social education platform.” In January, Chegg launched an HTML5 electronic textbook reader for device-agnostic reading.