Skip to: Navigation | Content | Footer

Readly raises €13m in Series B Funding

Readly, the digital magazine newsstand, yesterday announced it has raised €13m in additional funding to drive the next stage of its development.

Author: News Desk

Posted on: 18 May 2017 08:02

Readly raises €13m in Series B Funding

Per Hellberg: "This new round of funding allows Readly to bring more titles to a wider audience in more countries."

The Series B funding has been provided by funds managed by Zouk Capital and Hermes GPE as well as from existing shareholders. Channel 4’s Commercial Growth Fund and Aggregate Media Fund have also participated in the round. The company will use the funds to further its international expansion and support growth in its existing markets.

Per Hellberg, CEO at Readly: “With the smartphone and tablet at the heart of providing entertainment and education, it is unsurprising that the demand for accessing a huge variety of magazines via an app has become second nature. This new round of funding allows Readly to bring more titles to a wider audience in more countries and fulfil our aim of being at the cutting edge of the revolution in digital publishing. We have seen dramatic growth over the past twelve months, with 100% increase in paying subscribers in 2016 and these growth rates are continuing into 2017. We are delighted to have the support of our existing investors and to welcome new partners on board.”

Readly offers an app for tablets and smartphones that lets customers have unlimited access to 2,000 titles from over 400 publishers for a fixed monthly subscription.

Nathan Medlock, General Partner at Zouk Capital added, “Readly is already the European market leader in providing unlimited-access digital magazine content. Globally, the consumer magazine market is worth nearly €35bn and Readly is at the forefront of the digital revolution that is transforming this space. Readly plays to our own strengths and expertise in technology growth investing as well as demonstrating a clear sustainability benefit.”

comments powered by Disqus

Most read on InPublishing

These are the most read stories on the InPublishing website over the last 14 days, in order from the top.

Articles

Hyperlocal – making its voice heard

Nick Turner
Posted on: 26 September 2017

Vertically focused

Ciar Byrne
Posted on: 26 September 2017

It was circ wot won it!

James Evelegh
Posted on: 12 October 2017

5 minutes with… Hutch Hicken

Hutch Hicken
Posted on: 30 September 2017

Off The Page

David Hepworth
Posted on: 26 September 2017

My Publishing Life – Adam Sherman

Adam Sherman
Posted on: 16 October 2017

All change at Condé

Meg Carter
Posted on: 26 September 2017

It’s that time of year

Jim Foster
Posted on: 26 September 2017

Amid New Revenue Push, Video Is The Solution Du Jour

Karlene Lukovitz
Posted on: 26 September 2017

The Key Industry Dynamics

Jim Bilton
Posted on: 26 September 2017

This list is based on data from Google Analytics, and is refreshed every 24 hours. (Last updated: 19/10/2017 07:10)

Find out more about

Featured job

Subscriptions Sales Executive
Salary: £21,000 + commission
Wanderlust
Windsor/London

Featured in InPublishing Jobs

InPub Weekly: Sign-up

Click here to sign up for our free weekly email newsletter:

Sign up now!

Magazine registration

Publishing Partners Guide