iPad textbooks maker Inkling has raised $17 million in a Series B round of funding led by Tenaya Capital, as the company is anticipating the upcoming back to school season.
The company was founded by CEO Matt MacInnis and has around 60 employees and hundreds working on a freelance basis to churn out interactive textbooks for the iPad complete with audio and visuals to enhance the learning experience.
More and more colleges are experimenting with the iPad on campus and scores of students have expressed interest in learning from textbooks on the iPad. Inkling released its app on the App Store in 2010, with only 4 textbooks but now, as the back-to-school season begins it has 100 textbooks to offer.
Venture capital firms Jafco Ventures, Pearson Education, and Sequoia Capital also took part in the Series B round of funding. Companies like Sequoia and publishers McGraw-Hill and Pearson had taken part in the initial round of funding, obviously seeing something they liked.
Inkling re-works the textbooks from scratch and makes them more interactive, engaging and makese learning fun.
"We see the digital textbook market evolving more quickly than anticipated, and this investment gives us the capital to accelerate the development of Inkling's key technologies," said Matt MacInnis.