Paper, a leading software provider of unlimited, 24/7 academic support, announced today the closing of a $270 million USD Series D, featuring both a primary and secondary offering. The round was led by Sapphire and Softbank Vision Fund 2, with support from returning investors IVP, Salesforce Ventures, Framework Venture Partners, Bullpen Capital, Reach Capital, BDC Capital, and Red House Education.
The fundraise follows a year of unprecedented growth for Paper, which currently serves close to 2 million students—a significant bump from the one million mark following its Series C round. Since then, Paper has expanded its reach to nearly 30 states nationwide, grown its world-class team by over 300%, and partnered with some of the nation’s largest and most prominent school districts.