Literati, an Austin, Texas-based subscription book club company, raised $40M in Series B funding.
The round was led by Aydin Senkut of Felicis with additional funding from Dick Costolo and Adam Bain of 01 Advisors, Founders Fund, General Catalyst, Shasta Ventures, Silverton Partners and Springdale Ventures. Stephen Curry also participated in the round.
The company intends to use the funds to further invest in deep product and technological innovation in the book and literature space and grow the team.
Founded in 2017 by CEO Jessica Ewing, Literati is an innovative literary brand on a mission to promote lifelong learning through the thoughtful curation and discussion of books.
This year, the company launched its platform which features curated book clubs from notable figures including Nobel Laureate Malala Yousafzai, two-time NBA MVP Stephen Curry, entrepreneur and philanthropist Sir Richard Branson, New York Times-bestselling author Susan Orlean, and Joseph Campbell (via the Joseph Campbell Foundation). Book club subscribers receive a custom edition print book in the mail each month, along with access to Literati’s app where club members, luminaries, and authors discuss each month’s selection.