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Financials
Financials
Paper.co is a private company! They don't have to disclose their financials like public companies do. Only investors, or only certain types of investors, get to see detailed plans, products, and funding when a company is privately held.
However, this doesn't mean there is no information available. What do we know about Paper.Co based on news?
Latest News
Latest News
2022, Feb 15 -The Globe and Mail: Paper lands SoftBank-led US$270-million financing to become Canada’s latest unicorn. (Silcoff, 2022).
"Paper grew its staff from 30 employees to 130 employees. It has also grown 40x in revenue over the past two years." (Mascarenhas, 2021).
#21 - Canada’s top growing companies by three-year revenue growth.
#21 - Canada’s top growing companies by three-year revenue growth.
Seed Funding
Seed Funding
Paper.co has been through four successful rounds of funding, from Series A to Series D. The company would have had to undergo a lot of analysis and scrutiny to raise the exponentially larger amounts of capital they have secured from investors just in the past 6 years.
2016 - "Raised $1.6 million from Birchmere Ventures, with participation from BDC Capital.
2017 - Closed an $11 million dollar Series B from Framework Venture Partners.
2021 - Added $100 million dollar financing led by venture capital fund IVP. "At the time, the financing was one of the largest ever for a Canadian education company." ("Paper (company, 2022).
2022 - Raised $270 million dollars from Softbank and Sapphire Ventures.
Executive Team
Executive Team
Charismatic. From Montreal! (aka Francophone!). Media savvy. What's not to love about Paper.Co's executive team? The backgrounds of Philip A. Cutler, CEO and Roberto Cipriani, COO as McGill grads was critical in their early seed stages as GrandSlam and remains a part of the Paper.Co brand. What are their next steps?
Philip A. Cutler
Philip A. Cutler
CEO, Paper.Co
Media Coverage
Media Coverage
The company has been very successful at gaining consistent and positive coverage in mainstream news outlets.
The "Old School" Archives - McGill University Alumni Magazine
Philip Cutler, Paper CEO: A Fortt Knox Conversation
(CNBC video via YouTube). Fortt Knox. (2021, Oct 27).
(CNBC video via YouTube). Fortt Knox. (2021, Oct 27).
Paper.Co Competitors
Paper.Co Competitors
Chegg, Inc.
Kaplan, Inc.
Kumon Institute of Education Co., Ltd.
Mathnasium LLC
Sylvan Learning Inc.
The Princeton Review
TAL Education Group
Tutor Doctor
Tutor.com, Inc.
TutorMe.com, Inc.
Tutoring Club, Inc.
Varsity Tutors LLC
(Global Private Tutoring Industry, 2022).
References:
References:
Canada’s top growing companies by three-year revenue growth. (2021, September 24) . The Globe and Mail, Report on Business. Retrieved from: https://www.theglobeandmail.com/business/rob-magazine/top-growing-companies/article-canadas-top-growing-companies-2021/
Fortt Knox. (2021, Oct 27). Philip Cutler, Paper CEO: A Fortt Knox Conversation [video]. YouTube. https://youtu.be/WblSz0PiV5E
Global Private Tutoring Industry. (2022, October). ReportLinker. Retrieved from https://www.reportlinker.com/p0552740/Private-Tutoring-Industry.html
Mascarenhas, N. (2021, July 1). Paper gets $100M worth of venture-backed paper for B2B edtech. TechCrunch. Retrieved from https://techcrunch.com/2021/07/01/paper-series-c-ivp/
Paper (company). (2022, September 14). In Wikipedia. Retrieved from https://en.wikipedia.org/wiki/Paper_(company)
Silcoff, S. (2022, February 15). Paper lands SoftBank-led US$270-million financing to become Canada’s latest unicorn. The Globe and Mail. Retrieved from https://www.theglobeandmail.com/business/article-paper-lands-softbank-led-us270-million-financing-to-become-canadas/
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