What is Parchment?
Founded in 2003, Parchment operates at the intersection of educational technology and human resources software. The company provides a robust platform for the secure electronic exchange of transcripts, diplomas, and certifications. By facilitating the transition from legacy paper-based systems to digital formats, Parchment serves a critical role for educational institutions, students, and employers. Its global footprint, spanning North America, Asia Pacific, and India, positions it as a primary infrastructure provider for the digital credential ecosystem, effectively streamlining verification workflows for millions of users.
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 Matthew Pittinsky and Novak Biddle Venture Partners
Series C (2011): $6M led by Novak Biddle Venture Partners, Salmon River Capital, Matthew Pittinsky, and Michael Chasen
Private Equity (2014): $10M supported by Novak Biddle Venture Partners, Salmon River Capital, Internet Capital Group, and The Raine Group
Series D (2014): $35M featuring The Raine Group, Novak Biddle Venture Partners, GSV Capital, and Salmon River Capital
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
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.
Salmon River Capital
Salmon River Capital is a specialized private equity and venture capital firm that focuses its energy and capital on building exceptional technology-enabled enterprises in industries like education and training.
The Raine Group
The Raine Group is a global merchant bank focused exclusively on technology, media, and telecommunications, providing strategic capital to high-growth firms.
What's next for Parchment?
As Parchment continues to scale, the focus remains on deepening its integration within the global education sector. The recent capital injection is expected to accelerate product development, particularly in enhancing the security and interoperability of its digital credentialing platform. By leveraging its established market presence, the company is well-positioned to expand its service offerings, potentially targeting new verticals in professional certification and workforce development. The strategic alignment with its investor base provides the necessary operational guidance to maintain its trajectory as a market leader in the edtech space.
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