Raine Completes Exit of Education Technology Portfolio Company Parchment

The Raine Group, a leading global investment bank focused exclusively on technology, media and telecommunications, announced today the successful exit of portfolio company Parchment, a leading education platform for issuing and receiving academic and professional credentials.  Today's announcement follows the completion of Parchment's merger with Credentials Solutions.  "We were attracted to Parchment because of its mission to help turn credentials into opportunities, its team and its potential to capitalize on shifting education sector dynamics," said Jeff Sine, Co-Founder and Partner of Raine.  "In the seven years that we have partnered with the Company, it has become the most widely adopted digital credential service on the market.  The education industry has a strong need for innovative technological solutions and services, and the combined Parchment and Credentials Solutions organization is well positioned to build on its market leading position."