Total amount raised
$51.5 Millions
Latest funding date
6/1/2020
Location
Epic has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a vast digital library for children, featuring over 40,000 books, audiobooks, and learning videos.
Keep reading to explore the intricacies of Epic's fundraising journey and the investors backing this innovative platform.
What Is Epic?
Epic, founded in 2013 by Kevin Donahue and Suren Markosian, is a digital media brand for kids. Based in Palo Alto, California, the company offers a subscription-based digital library service featuring over 40,000 books, audiobooks, and learning videos.
Epic aims to create a fun, safe, and kid-friendly environment that encourages children to explore their interests and learn. The platform has been designed to inspire a lifetime of reading and discovery.
With a team of 101-250 employees, Epic continues to grow and innovate in the educational technology space, providing high-quality content from well-known publishers like HarperCollins and National Geographic.
How Much Funding Has Epic Raised?
- Seed Round
- Amount Raised: $1.4M
- Date: January 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Epic's digital library platform.
- Series A
- Amount Raised: $4.1M
- Date: December 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the content library and enhance the platform's features.
- Series B
- Amount Raised: $8M
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase user acquisition.
- Series C
- Amount Raised: $8M
- Date: May 2017
- Lead Investors: Reach Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the digital library and improve user engagement.
- Series D
- Amount Raised: $30M
- Date: January 2019
- Lead Investors: Creative Artists Agency, Evolution Media
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's offerings and expand market reach.
- Series D
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and innovation in the educational technology space.
Total amount raised: $51.5M. Current valuation: Not publicly disclosed.
Key Investors
- Creative Artists Agency (CAA)
- Details: Creative Artists Agency is a leading talent and sports agency, representing many of the most influential figures in entertainment and sports. It has a significant impact on the media and entertainment industry through its various ventures.
- Investment Focus Areas: Media, entertainment, sports.
- Notable Investments: Evolution Media, Epic.
- Evolution Media
- Details: Evolution Media is the investment arm of Creative Artists Agency, focusing on funding ventures in the media and entertainment sectors. It has been instrumental in supporting innovative companies in these industries.
- Investment Focus Areas: Media, entertainment, technology.
- Notable Investments: Epic, DraftKings, The Athletic.
- Reach Capital
- Details: Reach Capital is a venture capital firm that invests in early-stage education technology companies. It aims to support startups that are transforming the education landscape.
- Investment Focus Areas: Education technology, learning platforms, digital content.
- Notable Investments: Epic, Nearpod, ClassDojo.
- 500 Global
- Details: 500 Global is a venture capital firm that invests in early-stage startups across various sectors. It has a global presence and supports companies through its accelerator programs.
- Investment Focus Areas: Technology, consumer products, digital media.
- Notable Investments: Canva, Credit Karma, Udemy.
- Maven Ventures
- Details: Maven Ventures is a seed-stage venture capital firm that focuses on consumer software startups. It aims to back visionary founders who are creating products that improve lives.
- Investment Focus Areas: Consumer software, digital health, transportation.
- Notable Investments: Zoom, Chariot, Cruise.
What's Next for Epic?
Epic stands at the cusp of significant growth opportunities, driven by the increasing demand for digital educational content. With a robust digital library and partnerships with renowned brands like Disney and HarperCollins, the platform is well-positioned to expand its subscriber base and enhance its offerings. The potential to reach a global audience and introduce more interactive features presents a vast opportunity for growth.
Future fundraising efforts could see Epic attracting more venture capital, given its proven track record and market potential. However, the company may face challenges such as intense competition and the need to maintain high-quality content. Navigating these hurdles will be crucial for sustained success.
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