Chegg Raises $112 Million In Funding, Debt Facility, and Credit Facility

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Chegg is the biggest online textbook rental company and they are aggressively funding themselves in order to expand their business. The company raised $57 million in Series D equity funding led by Insight Venture Partners. Insight Venture Partners also provided Chegg with $25 million in credit facility. Before that Pinnacle Ventures and TriplePoint Capital provided Chegg with $30 million in debt facility. This gives Chegg a total of $112 million to work with.

Insight Venture Partners Managing Director Deven Parekh will be joining the Chegg Board of Directors as part of the funding round. By providing textbook rentals, Chegg has helped students across 6,400 colleges save about $65 million.

“We are thrilled with the continued excitement from leading investors who understand the tremendous value we provide to students around the country,” stated CEO and Co-Founder Osma in a press release. “This new funding is a significant step up from Series C and a testament to the growing market opportunity for’s textbook rental offering. With college tuitions continuing to climb and higher unemployment rates, parents and students are looking for any and all ways to cut costs.”

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at

Chegg Raises $112 Million In Funding, Debt Facility, and Credit Facility Comments

  1. kels says:

    have you ever tried out I tried chegg and was having problems so I thought I would try something else out. a friend told me about them and I loved it! the prices are already cheaper and plus she gave me her code EE15007 and it saved me 5% on top of that. you should try it out!!

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