Perlego, a London, UK-based online textbook subscription service, closed a $50m Series B funding round.
The round was led by Mediahuis Ventures, the venture capital firm of European media group Mediahuis, with participation from Raine Ventures, the venture capital arm of Raine Group, and Evli Growth Partners, as well as angel investors such as learning platform Kahoot’s founders Jamie Brooker and Johan Brand through their We Are Human fund.
The company intends to use the funds to accelerate its growth globally and especially in the US, and to roll out further products and features.
Co-founded by Gauthier Van Malderen and Matthew Davis in 2017, Perlego provides an online learning platform that aggregates the majority of global publishers in a subscription model.
It enables students to access the entire library of learning materials in one simple space, from any device, for an affordable subscription fee, publishers to access a price-sensitive audience through Perlego’s revenue-shared model and get insights on the usage of their content, and allows educators to provide quality materials to their students, and effectively design and deliver their courses, bridging course engagement across the physical and digital space.
The company is also developing a community where knowledge can be shared for a more collaborative learning experience, starting with the recent launch of Workspaces, an all-in-one space for learning materials.
Perlego now offers 800,000 textbooks in six languages from 5,000 of the world’s top education publishers, including Cengage, Routledge, Cambridge University Press, Elsevier and Harvard University Press. It’s attracted over 400,000 users from more than 6,000 institutions in 172 countries.
FinSMEs
15/03/2022