Funding round
Cengage Series A
Cengage, which works in digital learning platform development in Independence, raised $530M in a Series A round announced on 22 May 2023, led by Apollo. 1 firm took part.
$530M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
Cengage did not disclose a valuation in this round. It is Cengage's first venture round on record, 16 years after it was founded in 2007. No later venture round is on record for Cengage.
Cengage's funding rounds
This is the only venture round on record for Cengage.
- Series A this round 22 May 2023, led by Apollo $530M
Investors
Who put money in
Apollo led the round.
Lead investor
- Apollo backs 41 venture-backed companies new investor
Joined the board: Itai Wallach (Apollo Global Management) and Vikram Mahidhar (Apollo Global Management).
Comparable rounds
How it compares
The closest in time: Series A rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Biotechnology | 23 May 2023 | $300M | not disclosed | MPM BioImpact and F2 Venture Capital |
| Biotechnology | 16 May 2023 | $100M | not disclosed | Novo Holdings |
| Tech Companies | 16 May 2023 | $81M | $500M | Celesta Capital and Mayfield |
| Biotechnology | 1 May 2023 | $75M | not disclosed | Apple Tree Partners |
| Biotechnology | 18 May 2023 | $73M | not disclosed | Hatteras Investment Partners |
| Software Development Services | 11 May 2023 | $71M | not disclosed | Crosspoint Capital |
| Figure Industrial Machinery & Supplies | 24 May 2023 | $70M | $500M | Parkway Venture Capital |
| Pharmaceutical Products | 9 May 2023 | $66M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Cengage raise in its Series A round?
Cengage raised $530M in its Series A round, announced in May 2023.
Who led Cengage's Series A round?
Apollo led it.
What was Cengage's valuation at the Series A round?
It was not disclosed.