Edu.com Closes on $30 Million in Financing
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Follow-on investments came from first-round participants Mayfield Fund and Information Technology Ventures and new investments came from HarbourVest Partners, Banc One Equity Capital, General Catalyst, Arcadia Partners and WaterView Partners.
The company said the funds will be used to fortify the company's technology and marketing infrastructure, acquire customers and deliver advanced database services to universities, manufacturers and service providers.
Founded in 1998 by Adam Kanner, edu.com is a multi-category e-commerce channel for manufacturers and service providers to distribute and market deeply discounted goods and services to a validated student-only audience without conflicting with other established retail channels.
Business partners include AT&T, Adobe, BankBoston, Citibank, Epson, Fleet, Hewlett-Packard, IBM, Microsoft, Symantec, Toshiba and Wells Fargo, among others.