Deals
Top Hat Raises $22.5 Million to Go After Pearson, McGraw-Hill
- Funding round values Canadian tech firm at $185 million
- Rival textbook publishers have struggled to increase revenue
Top Hat's Push to Digitize the Classroom
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Top Hat, the Canadian education technology startup, completed a new round of funding to give it more firepower to go after textbook publishers like Pearson Plc.
The $22.5 million round is Top Hat’s biggest yet and brings its total funding to about $40 million, the Toronto-based company said in a statement Wednesday. New York-based Union Square Ventures participated, as well as previous investors iNovia Capital and Georgian Partners, among others. The funding values Top Hat at $185 million, according to people familiar with the deal.