Epic raises $8 million to grow the total ebook subscription use for kids
May 30, 2017 - Kindle Unlimited
Kid-focused digital library use Epic has lifted $8 million in a array C turn of appropriation led by Reach Capital, with appearance from Rakuten Ventures, Menlo Ventures, TransLink Capital, WI Harper, Brighteye Ventures, and Innovation Endeavors.
Founded out of Palo Alto in 2014, Epic offers total access to around 25,000 books for $5 per month. The calm is targeted during those underneath 12 years of age and includes thousands of concomitant training videos, quizzes, and reading lists. Epic claims that a use is used in 87 percent of U.S. facile schools.
Up until now, Epic had lifted around $13 million in funding, and with a latest money injection a association skeleton to assist a growth, supplement to a team, and build out a height for both home subscribers and schools.
There are a series of players in a ebook subscription space. The strong Amazon offers Kindle Unlimited, that serves entrance to some-more than a million books for $10 a month, and it also offers Prime Reading as partial of a annual Prime subscription service.
Elsewhere, Scribd used to offer an total ebook subscription use for $9 per month, though it recently introduced a monthly three-book extent which, to be fair, is substantially some-more than adequate for many people. Oyster also offering something similar, though it shuttered behind in 2015 after assembly insurgency from publishers.
By focusing on a smaller niche, with a hand-selected line-up of calm and a height privately for educational institutions, Epic is clearly building an appealing business, with edition partners that embody Macmillan, HarperCollins, Sesame Workshop, and more.
Epic launched a Educators-focused platform back in 2015, giving teachers giveaway entrance to a Epic platform. As a outcome of this move, teachers use a height to emanate ancillary training material, so creation a use some-more appealing to parents.
“We invested in Epic since of a fad from teachers and children who were gay by a platform,” explained Reach Capital ubiquitous partner Jennifer Carolan. “In classrooms all over, we saw Epic hint children’s adore for reading and enthuse them to share their training with others. We were tender with Epic’s ability to constraint a hearts of educators, children, and relatives and emanate a seamless tie between propagandize and home learning.”