Kids’ Digital Book Subscription Startup, Epic Raises $30M From Evolution...

Financing

Kids’ Digital Book Subscription Startup, Epic Raises $30M From Evolution Media

Jan 29, 2019

AN EPIC RAISE: Epic, which offers an online reading subscription geared for kids, has raised $30 million from Evolution Media, Forbes reports. Evolution Media is the investment arm of Creative Artists Agency, an influential force in the media and entertainment business. This round closed in 2018, according to a SEC filing.

Launched in 2014, Epic’s digital library currently includes more than 35,000 books and audiobooks from brands including Disney, HarperCollins and National Geographic. Titles include quizzes and accompanying videos on related subjects.

The company’s revenue relies on consumer subscriptions, which currently cost $7.99 per month. According to Forbes, Epic has enlisted a total 1.7 million subscribers since its founding.

Epic does not sell to schools; rather, it offers elementary school teachers and librarians free access. More than a million teachers have signed up so far.

Epic previously raised $8 million in a Series C round in 2017, and in total has raised more than $51 million to date.

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