What is Readly?
Readly stands as the European category leader for digital magazines, offering an extensive subscription service that provides unlimited access to over 7,500 magazines and newspapers, including the catalogue from ePresse. With a subscriber base spanning more than 50 countries and content available in 17 languages, Readly collaborates with 1,200 publishers globally to digitize the magazine and newspaper industry. In 2021, the company reported revenues of SEK 466 million. Since September 2020, Readly's shares have been listed on Nasdaq Stockholm Midcap, marking a significant milestone in its corporate journey and providing a platform for further expansion and investment.
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 Aggregate Media Fund, Zouk Capital, 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 is a company that builds and invests in Sweden's fastest-growing businesses since 2002. They focus on ambitious brands by providing access to powerful premium media channels such as outdoor advertising, print, display, podcasts, and online video through a media-for-equity investment model.
What's next for Readly?
The recent major strategic investment signals a new phase of growth and development for Readly. This capital infusion is expected to fuel further expansion into new markets, enhance its digital platform, and strengthen its partnerships with publishers. As a leader in digitizing the magazine and newspaper industry, Readly is well-positioned to capitalize on the increasing consumer demand for digital content. The company's focus on innovation and its established presence across Europe suggest a trajectory aimed at solidifying its market dominance and exploring new revenue streams within the evolving media landscape.
See full Readly company page
