Austin-Based Literati, A Subscription Book Club For Kids, Raises $12M Series A

Founded by Jessica Ewing and Kelly Carroll in 2016, the company says it’s seen “10x growth in 18 months,” and to continue growing, it’s raised $12 million in a Series A round led by Nikhil Basu Trivedi, managing director of Shasta Ventures.

I reached out to the company for more specifics around growth and a spokeswoman told me via email: “We aren’t releasing specific subscriber and revenue numbers, but because subscriber growth and revenue go hand in hand in the subscription business, Literati has grown 10x between our last Seed Round and this Series A.” She added that headcount is currently 40, up from about 10 one year ago.

“The book market is massive, and Literati’s growth, customer love, and mission really blew me away as I spent time with Jess, Kelly, and the Literati team,” said Trivedi, who is joining Literati’s board as part of the funding.

Meanwhile, Costolo pointed to Literati as “a shining example” of “the innovative new companies that are being built outside of Silicon Valley.” (Read more here about how Austin is becoming a growing tech hub).

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