On June 30, 2021, Montreal-based EdTech startup Paper announced it had closed a US$100 million Series C financing led by Institutional Venture Partners (IVP). With the new funding, Paper is looking to continue scaling its offering to support more stakeholders in the education sector, which has seen dramatic changes since the onset of the COVID-19 pandemic.
IVP is a US-based private equity investment firm focusing on later-stage venture capital and growth equity investments.
Paper partners with K-12 schools throughout the U.S. and Canada to give students opportunity to excel academically. Their educational support system provides learners with unlimited 24/7 homework help, writing feedback, and study support at a predictable fixed cost.
Osler, Hoskin & Harcourt LLP advised IVP with a team consisting of Chad Bayne, Gary Marshall and Jordana Corder-Tovel (Emerging and High Growth Companies).