Portland, Ore.-based startup Lumen Learning has reeled in more investment to grow its open digital education course material platform.
The company raised more than $5 million for its Series C round, which was led by existing investor and partner Follett, a provider of course materials delivery to more than 1,200 college and universities.
Founded in 2012 by Kim Thanos and David Wiley, Lumen Learning helps college students at more than 200 institutions save on traditional textbook costs by offering open educational resources (OER) for popular college courses. OER are available under public domain or have been released under a copyright license and include full courses, course materials, videos, tests, and more.
“It’s exciting to see strong investor support for a sustainable, community-driven model for moving open education into mainstream higher education,” Thanos said in a statement.
Customers include Austin Community College District; The City University of New York; University of Louisville; and several others.
Lumen Learning was previously a grantee in the Bill & Melinda Gates Foundation’s Next Generation Learning Challenge and Next Generation Courseware Challenge programs.
Lumen Learning will use the fresh cash to attract more customers and improve its course materials. Total funding to date is just over $11 million. Previous investors include the Portland Seed Fund and Seattle-based Alliance of Angels. The company employs 26 people.