Round led by Tenaya Capital with participation from Jafco Ventures, Pearson Education, and Sequoia Capital.
SAN FRANCISCO, CA, Inkling, the leading platform for interactive learning content on iPad, today announced that it has received $17 million in Series B funding, led by Tenaya Capital with participation from Jafco Ventures, Pearson Education, and Sequoia Capital. The investment will be used to accelerate the development of the best digital textbook experience available today.
"As we've seen with the music, video and consumer book markets, the textbook market is headed into a period of rapid change," said Tom Banahan, Managing Director at Tenaya Capital. "Inkling's remarkable technological lead in this space uniquely positions it to take advantage of this enormous market opportunity."
"We see the digital textbook market evolving more quickly than anticipated, and this investment gives us the capital to accelerate the development of Inkling's key technologies," said Matt MacInnis, Inkling's Chief Executive Officer.
Inkling works with major publishers to rebuild market-leading textbooks into a first class learning experience on iPad. In contrast to flat digital reproductions of printed books, Inkling reinvents the textbook as software, incorporating rich interactivity, 3-D models, self-quizzes, and real time note-sharing among students and professors. Students can purchase individual chapters for as low as $2.99 through Inkling's new online store at www.inkling.com
Inkling is reinventing publishing in the era of iPad, and we've started by redefining the textbook. Starting with the world's best textbooks from leading publishers, Inkling rebuilds each from the ground up into enhanced, engaging and interactive experiences. But it's about more than just textbooks. Look between the lines, and you'll see a revolution in publishing: a new platform for creating, distributing and consuming interactive learning content. Based in San Francisco, Inkling is backed by Sequoia Capital, and partners with the world's leading educational publishers.
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