What is Parchment?
Founded in 2003, Parchment operates as a software company specializing in the creation, management, and distribution of digital academic credentials and certifications. Its platform facilitates the secure electronic exchange of records such as transcripts and diplomas between students, educational institutions, and employers. With a global presence spanning North America, Asia Pacific, and India, Parchment is instrumental in helping institutions transition from traditional paper-based systems to efficient digital formats. The company integrates HR software capabilities with educational technology to offer advanced credential verification and management services for the worldwide education sector.
How much funding has Parchment raised?
Parchment has raised a total of $77M across 7 funding rounds:
Series B
$4.5M
Series C
$6M
Private Equity
$10M
Series D
$35M
Private Equity
$12M
Private Equity
$2.5M
Unspecified
$7M
Series B (2011): $4.5M with participation from Novak Biddle Venture Partners and Matthew Pittinsky
Series C (2011): $6M led by Michael Chasen, Salmon River Capital, Novak Biddle Venture Partners, and Matthew Pittinsky
Private Equity (2014): $10M supported by Salmon River Capital, Novak Biddle Venture Partners, The Raine Group, and Internet Capital Group
Series D (2014): $35M featuring GSV Capital, Salmon River Capital, Novak Biddle Venture Partners, and The Raine Group
Private Equity (2015): $12M, investors not publicly disclosed
Private Equity (2017): $2.5M, investors not publicly disclosed
Unspecified (2019): $7M led by CIBC
Key Investors in Parchment
Salmon River Capital
Salmon River Capital is a specialized private equity and venture capital firm that focuses its energy and capital on entrepreneurial teams building technology-enabled enterprises in industries such as education/training, health care information technology, financial services technologies, online media, and information utilities.
Novak Biddle Venture Partners
Novak Biddle Venture Partners specializes in providing equity financing and management assistance to early-stage information technology companies, primarily in the Mid-Atlantic region, with a mission to foster the development of successful, long-term businesses.
The Raine Group
The Raine Group is a global merchant bank founded in 2009, exclusively focused on the technology, media, and telecommunications sectors, with its headquarters in New York City.
What's next for Parchment?
The substantial enterprise-level funding and recent strategic investment indicate Parchment is in a robust growth phase, likely focusing on scaling its operations and expanding its market reach. This capital infusion is expected to support product development, enhance platform capabilities, and potentially drive strategic partnerships or acquisitions within the edtech and HR tech landscapes. The company's focus on digitizing academic credentials positions it to capitalize on the increasing demand for secure and verifiable digital records in education and employment.
See full Parchment company page
