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Toronto’s Top Hat has raised USD $55 million in Series D equity and debt financing.
The round was co-led by existing investors Georgian Partners and Inovia Capital, and supported by the rest of Top Hat’s existing equity investors, including Union Square Ventures, Emergence Capital and Leaders Fund.
Combined with debt financing from BMO Technology and Innovation Banking Group, this funding will enable Top Hat to continue to accelerate the disruption of traditional textbooks and course materials in order to deliver greater educational ROI to students.
Exclusive partnerships with Fountainhead Press and Bluedoor Publishing augment Top Hat’s broader strategy to drive the digital transformation of the traditional textbook industry by scaling the depth and breadth of content delivered through its leading all-in-one teaching platform.
“Higher education is undergoing a sea change brought on by the massive price of a degree, combined with an economy undergoing radical transformation,” said Mike Silagadze, founder and CEO, Top Hat.
“This has created a demand to raise the impact of educational outcomes. With the support and confidence of our investors, customers, and employees, Top Hat will continue building on the exponential growth we’ve achieved to empower professors to work smarter and more effectively so they can improve the educational return on investment for their students.”