San Mateo,
Calif. – BookRenter, a provider
of online textbook rentals, announced on Thursday that it has closed a $10
million second round of venture capital financing, led by Norwest Venture
Partners.
Previous backers Storm Ventures and Adams Capital Management also
participated in the round, proceeds from which will be used to support growth
initiatives.
Launched in 2008, San Mateo,
Calif.-based BookRenter offers over 3 million textbook titles for rent, for up
to 75% off the retail price.
The company said its branded platform has to date
enabled 75 bookstore partners to create their own rental stores, serving more
than 1.3 million students.
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Look for textbook rental companies to attract a lot more capital as more and more students realize that renting can save them a lot of money.