Self-publishing platform for books raises $37 million to use AI to ‘build a new Disney’. Details
02/27/24, 10:03 AM
Location
san franciscoMoney raised
$37 million
Industry
publishing
other
Round Type
series c
Investors
Kleiner Perkins, Nea, Vinod Kholsa
Inkitt, a self-publishing platform for books, has raised $37 million in a Series C round led by Vinod Kholsa of Khosla Ventures, with NEA and Kleiner Perkins as previous backers participating as well, along with some undisclosed investors. The funding aims to use AI to expand content production, venture into games and audiobooks, and build a multimedia empire around its app.
Company Info
Location
san francisco, california, united states
Additional Info
We believe every author should have an equal opportunity to succeed. Therefore, our mission is to discover hidden talents and turn them into globally successful authors.
Inkitt is a pioneer at the forefront of Data Driven Publishing. Using an analytic and objective approach, we’ve discovered hundreds of talented authors around the world with over 50% of our published authors achieving $100,000+ in sales. We have forever changed the traditional publishing model by inventing an algorithm which analyzes users' reading behavior to identify hits, in turn removing subjectivity from the equation. This gives Inkitt the unique ability to discover hidden talents that might otherwise have gone unnoticed.