# Parchment

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/parchment

- Industry: Software
- Headquarters: Scottsdale, US
- Website: www.parchment.com/
- Total disclosed funding: $47M
- Latest round: Series D (Dec 1, 2013)
- Investors on record: 9

## About

Parchment LLC specializes in credential management software, transforming how academic and professional credentials are securely issued, verified, and shared across various sectors, enhancing efficiency for educational institutions and organizations globally.Founded in 2003 and headquartered in Scottsdale, US, Parchment LLC provides a platform for managing educational and professional credentials. The company has participated in 10 deals, with its most recent funding round occurring on October 30, 2023. In that round, Instructure Holdings, Inc. acquired Parchment LLC from Brentwood Associates for approximately USD 795 mn. The company was co-founded by Jeff Harris and Lori Schroeder, and is currently led by CEO Natasha Nduhiu.Parchment offers a comprehensive credential management platform that includes secure issuance, verification, and sharing of various credentials such as transcripts, diplomas, digital badges, and certificates. The platform addresses challenges faced by educational institutions, improves student record management, automates document processes, and enhances transitions for students. Its diverse client base includes K-12 districts, higher education institutions, employers, and professional organizations in North America, Europe, and Asia-Pacific.Parchment generates revenue through service fees related to its credentialing platform, including subscription models for educational institutions that utilize the platform for credential management. The revenue structure accommodates both B2B and direct-to-consumer transactions, facilitating efficient credential issuing and receiving. Key offerings include Parchment Digitary and GED® credentialing services, contributing to its revenue generation.Following the recent acquisition on October 30, 2023, by Instructure Holdings, Inc. for approximately USD 795 mn, Parchment plans to leverage this partnership to explore new solution categories. The acquisition is expected to support growth and expansion into new markets and product offerings, although specific details regarding upcoming products or geographic regions have not been disclosed.

## Funding rounds

- Series D, Dec 1, 2013, $12M — Novak Biddle Venture Partners, Salmon River Capital, The Raine Group, ICG Group Inc., GSV Ventures
- Series D, Oct 1, 2012, $24M — Novak Biddle Venture Partners, Salmon River Capital, The Raine Group, ICG Group Inc., GSV Ventures, Sutter Rock Capital
- Series C, Apr 5, 2012, $1.6M — Novak Biddle Venture Partners, Salmon River Capital, Tech Coast Angels, AltoTech Ventures
- Series C, Dec 28, 2011, $6M — Novak Biddle Venture Partners, Salmon River Capital, Actua Corporation
- Series B, Jan 21, 2011, $4.5M — Novak Biddle Venture Partners, Actua Corporation

## Investors

- Novak Biddle Venture Partners (https://capitalatlas.ai/funds/novak-biddle-venture-partners) — Series B, Series C, Series D
- Actua Corporation — Series B, Series C
- Salmon River Capital (https://capitalatlas.ai/funds/salmon-river-capital) — Series C, Series D
- Tech Coast Angels — Series C
- AltoTech Ventures (https://capitalatlas.ai/funds/altotech-ventures) — Series C
- The Raine Group (https://capitalatlas.ai/funds/the-raine-group) — Series D
- ICG Group Inc. — Series D
- GSV Ventures (https://capitalatlas.ai/funds/gsv-ventures) — Series D
- Sutter Rock Capital (https://capitalatlas.ai/funds/sutter-rock-capital) — Series D