Total amount raised
$106.8 Millions
Latest funding date
11/1/2019
Location
Scribd has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive digital library, providing access to a vast array of documents, books, audiobooks, and more.
Keep reading to explore the intricacies of Scribd's fundraising journey and the investors backing this innovative platform.
What Is Scribd?
Scribd, founded in March 2007, is a digital library and document-sharing platform based in San Francisco, California. The company was established by Jared Friedman, John R. Adler, Tikhon Bernstam, and Trip Adler.
Offering a subscription service, Scribd provides unlimited access to books, audiobooks, magazine articles, and documents. The platform is accessible on Android and iOS devices, as well as personal computers.
With a workforce of 251-500 employees, Scribd continues to expand its comprehensive digital library, catering to a global audience seeking diverse reading materials.
How Much Funding Has Scribd Raised?
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: August 2006
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of the platform.
- Seed Round
- Amount Raised: $40,000
- Date: March 2007
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and launch the platform.
- Series A
- Amount Raised: $3.7 million
- Date: June 2007
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and user base.
- Series B
- Amount Raised: $10 million
- Date: December 2008
- Lead Investors: CRV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's features.
- Series C
- Amount Raised: $12 million
- Date: January 2011
- Lead Investors: MLC Australia, SVB Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and content acquisition.
- Series D
- Amount Raised: $23 million
- Date: January 2015
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in new product features.
- Series E
- Amount Raised: $58 million
- Date: November 2019
- Lead Investors: Spectrum Equity
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To sustain growth, innovate products, and acquire more content.
Total Amount Raised: $106.74 million. Current Valuation: Not publicly disclosed.
Key Investors
- Spectrum Equity
- Details: Spectrum Equity is a growth equity firm that invests in internet-enabled software and information services companies. They have a history of backing successful digital content businesses.
- Investment Focus Areas: Internet-enabled software, information services, digital content businesses.
- Notable Investments: Ancestry, Grubhub, SurveyMonkey.
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that focuses on technology, clean technology, and healthcare sectors. Founded by Vinod Khosla, the firm is known for its innovative and disruptive investments.
- Investment Focus Areas: Technology, clean technology, healthcare.
- Notable Investments: DoorDash, Square, Impossible Foods.
- MLC Australia
- Details: MLC Australia is a financial services company that provides wealth management and investment solutions. They are part of the National Australia Bank Group.
- Investment Focus Areas: Financial services, wealth management.
- Notable Investments: Not publicly disclosed.
- SVB Capital
- Details: SVB Capital is the investment arm of Silicon Valley Bank, focusing on technology and life sciences sectors. They provide venture capital and private equity funding.
- Investment Focus Areas: Technology, life sciences.
- Notable Investments: LinkedIn, Fitbit, Roku.
- CRV (Charles River Ventures)
- Details: CRV is an early-stage venture capital firm that invests in technology companies. They have a long history of supporting innovative startups.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Twitter, Zendesk, HubSpot.
What's Next for Scribd?
As Scribd continues to grow, the opportunities ahead are vast. With over 1 million paying subscribers and 100 million monthly visitors, the platform is poised to expand its content library, including original and localized content for international markets. This growth could attract further investment, enabling Scribd to innovate and enhance its offerings.
Future fundraising rounds may be on the horizon, driven by the increasing demand for subscription-based digital content services. However, Scribd will need to navigate challenges such as competition from other platforms and maintaining profitability while offering unlimited access. Balancing these factors will be crucial for sustaining its upward trajectory.
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