Wednesday, February 12, 2020

Parchment Acquired By Brentwood Associates

Parchment, a company which provided records management, transcripts, grades, and other information for the K-12 and other markets--and which has its roots in the LA area--has been acquired by Brentwood Associates. Financial terms of the acquisition were not announced. Parchment got its start in Los Angeles as Docufide, a startup offering up handling of high school transcripts for colleges and university applications; Docufide was venture backed by the Tech Coast Angels and Pasadena Angels. Parchment later took funding from Salmon River Capital and Novak Biddle Partners, and moved its headquarters to Scottsdale, Arizona; it's unclear how much equity the Tech Coast Angels and Pasadena Angels still had in the company at the time of the acquisition; those investments were more than 13 years ago in Docufide.

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