CampusBookRentals.com, a provider of online textbook rentals has announced a round of growth financing with total equity and credit facilities raised of over $20 million. Lead investors included Level Equity, Five Elms Capital and Cherokee & Walker.
“While we have built a capital efficient business that has been profitable since shortly after we founded it, we chose to bring on an equity partner and further develop our financing relationships to meet the incredible demand we are seeing in our market. We are well capitalized to execute on the significant growth opportunities we see in this expanding market,” said CampusBookRentals.com CEO Alan Martin, who launched CampusBookRentals.com from his basement in 2007.
CampusBookRentals.com serves a growing number of customers on nearly 5,600 college campuses. Students simply search for textbooks by ISBN, title, author or keyword; select their books and appropriate rental period (semester, quarter, summer, etc.); and take advantage of free shipping to and from their home or college dorm.
For every book rented, CampusBookRentals.com donates a portion of its proceeds to Operation Smile, a non-profit organization dedicated to providing cleft lip correction surgeries for children in need.
