What is Readly?
Readly operates as the leading digital subscription service for magazines and newspapers across Europe. Offering unlimited access to a vast catalog of 7,500 titles, including content from ePresse, Readly serves subscribers in over 50 countries with content available in 17 languages. By collaborating with 1,200 publishers globally, the company is actively engaged in the digital transformation of the publishing industry. In 2021, Readly reported revenues of SEK 466 million, reflecting its substantial market presence and operational scale. The company's shares have been listed on Nasdaq Stockholm Midcap since September 2020.
How much funding has Readly raised?
Readly has raised a total of $36M across 4 funding rounds:
Series A
$2.3M
Series B
$14.3M
Other Financing Round
$8.1M
Unspecified
$11.2M
Series A (2016): $2.3M with participation from Aggregate Media and Channel 4
Series B (2017): $14.3M led by Zouk Capital, Aggregate Media Fund, and Hermes GPE LLP
Other Financing Round (2018): $8.1M, investors not publicly disclosed
Unspecified (2018): $11.2M featuring Zouk Capital and Swedbank Robur
Key Investors in Readly
Zouk Capital
Zouk Capital is a fund manager dedicated to investing in the sustainable economy, focusing on opportunities at the intersection of infrastructure, technology, and sustainability. The company supports innovative projects, such as battery energy storage systems and electric vehicle charging infrastructure.
Swedbank Robur
Swedbank Robur is a wholly owned subsidiary to Swedbank and active in Swedbank´s four home markets. Swedbank Robur offers more than 80 mutual funds, institutional and discretionary asset management and management of pension funds.
Aggregate Media Fund
Aggregate specializes in media for equity investments, providing media space as expansion capital to support the growth of smaller and medium-sized companies in Sweden, Norway, and Finland. By enhancing marketing efforts through their resources, they significantly improve company development and effectively contribute to increasing business value.
What's next for Readly?
The recent major strategic investment in Readly signals a pivotal phase for the company, likely focused on accelerating its European market penetration and enhancing its digital platform. This capital infusion is expected to fuel further publisher partnerships, expand content offerings, and potentially drive technological innovation in digital content delivery. Given its position as a category leader and its public listing, Readly is poised to leverage this financing to solidify its competitive advantage and explore new avenues for growth within the evolving media landscape.
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