Perlego Raises $50M To Build Out Its Vision Of Being The ‘Spotify For Textbooks’
Amount Raised
$50 Million
LondonOtherSoftwareDescription
Spotify helped pave the way for a new model for consumers to listen to music: pay a monthly fee to stream whatever you want, with no need to own any physical or digital versions of it. Now, a startup called Perlego, which has been applying that concept to academic textbooks, has picked up $50 million to expand its business after seeing its platform boom through Covid-19. The London startup currently has 400,000 paying subscribers who get all-you-can-read access to some 850,000 titles — textbooks, fiction and other literature that students are assigned as coursework at universities and other higher-learning institutions. That catalogue, the startup says, makes Perlego the largest online textbook subscription service in the world.