Edu.com Closes on $30 Million in Financing

Edu.com, a pure-play e-commerce solution for
verified college students and branded marketers, closed on $30 million in
second-round funding led by strategic investor Student Advantage Inc.


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.


Products and services currently available at edu.com include computers,
software, bank
services, phone and Internet services, textbooks, credit cards and
electronics.


Business partners include AT&T, Adobe, BankBoston, Citibank, Epson, Fleet,
Hewlett-Packard, IBM, Microsoft, Symantec, Toshiba and Wells Fargo, among
others.

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