SYS-CON MEDIA Authors: Liz McMillan, Carmen Gonzalez, Zakia Bouachraoui, Roger Strukhoff, David Linthicum

News Feed Item

Readly Raises $12M for next stage of global expansion; adds new investor Swedbank Robur

Digital magazine app, Readly, announces latest round of funding aimed at driving the next stage of its global growth

AUSTIN, Texas, Sept. 4, 2018 /PRNewswire/ -- Readly, a digital magazine service that provides customers with unlimited, "all-you-can-read" access to thousands of national and international digital magazines, announces that it has raised $12M in additional funding. The latest round of funding comes from new reputable investor Swedish Swedbank Robur and London based Zouk Capital. The company will use the new funds to further its international expansion and support growth in its existing markets. 

Digital magazine app, Readly, announces latest round of funding aimed at driving the next stage of its global growth.

"Spotify transformed the music industry on a global scale and we're seeing the same with the magazine industry. Readly is well equipped to lead this progressive industry forward through its digital offering and continued innovation. We are pleased to invest in Readly and be part of this next chapter," says Erik Sprinchorn, Fund Manager at Swedbank Robur.

"We are in no doubt that the future of reading magazines is digital and Readly continues to be one step ahead of the competition, revolutionizing the way we enjoy magazines. We have supported Readly from the early days and are delighted to be part of their continued success," says Nathan Medlock, Partner at Zouk Capital.

Stockholm headquartered Readly offers an app for tablets and smartphones that lets customers have unlimited access to thousands of national and international magazines for a fixed monthly subscription. With readers in 46 markets and access to over 3,200 national and international digital magazines, Readly is the leading global digital newsstand subscription service. In 2017, Readly saw close to 100% revenue growth, with strong growth continuing this year.

"Reading magazines digitally has become second nature as the demand for quality, curated content via the smartphone or tablet grows. The funding reflects confidence in our business model, team and market. It plays an important role in ensuring Readly fulfils its vision to be at the forefront of digital publishing by reaching a wider audience with the very latest in digital magazines across both new and existing markets. We are delighted with the continued support of our investors", says Jörgen Gullbrandson, CEO of Readly.

Latest data shows an 80% growth in digital magazine consumption year over year with over 13 million magazines read in the last year. The global magazine industry has a turnover of $80 billon, which is five times greater than the music industry. Today, digital magazines represent about 6.5% of the total magazine industry turnover, a share expected to increase over the coming years.

About Readly
Readly (https://us.readly.com) is a digital reading service that provides customers with unlimited, "all-you-can-read" access to thousands of national and international digital magazines. Available for both on and off-line use, the service is ultra-fast, easy-to-use and convenient. The Readly platform is family friendly, allowing up to five different profiles, and features enhanced mobile reading functions, as well as advanced search, a recommendation engine and sharing tools. In addition to consumer benefits, Readly offers a powerful, risk-free route to a global market for publishers. Readly is also the market leading digital magazine service in the UK, Sweden, Germany, Switzerland and Austria.

About Swedbank Robur
Swedbank Robur is Sweden's largest and one of the Nordic region's leading asset managers. The company is a wholly owned subsidiary of Swedbank and has been awarded a number of awards from Lipper, Morningstar and Bloomberg. Swedbank Robur manages just over SEK 1,000 billion and the New Technology Fund has previously invested in companies such as Acast and Frisq.
http://www.swedbankrobur.se/

About Zouk Capital
Zouk Capital is a private equity and infrastructure fund manager investing in the sustainable economy. Zouk's distinctive dual-track strategy of technology growth and infrastructure capitalizes on the investment opportunities created by the global shift to greater resource efficiency. Zouk's Growth Capital funds invest in high growth technology companies that use information technology to deliver resource efficiency. Our Infrastructure investment funds finance the construction of new high-yielding assets, by acquiring, developing and funding late- stage renewable energy infrastructure projects. Zouk has invested in the sustainable economy since 2000, has €600m under management and is headquartered in London. www.zouk.com

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/readly-raises-12m-for-next-stage-of-global-expansion-adds-new-investor-swedbank-robur-300706586.html

SOURCE Readly

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
When you're operating multiple services in production, building out forensics tools such as monitoring and observability becomes essential. Unfortunately, it is a real challenge balancing priorities between building new features and tools to help pinpoint root causes. Linkerd provides many of the tools you need to tame the chaos of operating microservices in a cloud native world. Because Linkerd is a transparent proxy that runs alongside your application, there are no code changes required. I...
Druva is the global leader in Cloud Data Protection and Management, delivering the industry's first data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence-dramatically increasing the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it. Druva's...
Kubernetes as a Container Platform is becoming a de facto for every enterprise. In my interactions with enterprises adopting container platform, I come across common questions: - How does application security work on this platform? What all do I need to secure? - How do I implement security in pipelines? - What about vulnerabilities discovered at a later point in time? - What are newer technologies like Istio Service Mesh bring to table?In this session, I will be addressing these commonly asked ...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
BMC has unmatched experience in IT management, supporting 92 of the Forbes Global 100, and earning recognition as an ITSM Gartner Magic Quadrant Leader for five years running. Our solutions offer speed, agility, and efficiency to tackle business challenges in the areas of service management, automation, operations, and the mainframe.
Blockchain has shifted from hype to reality across many industries including Financial Services, Supply Chain, Retail, Healthcare and Government. While traditional tech and crypto organizations are generally male dominated, women have embraced blockchain technology from its inception. This is no more evident than at companies where women occupy many of the blockchain roles and leadership positions. Join this panel to hear three women in blockchain share their experience and their POV on the futu...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
"NetApp's vision is how we help organizations manage data - delivering the right data in the right place, in the right time, to the people who need it, and doing it agnostic to what the platform is," explained Josh Atwell, Developer Advocate for NetApp, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
Cloud-Native thinking and Serverless Computing are now the norm in financial services, manufacturing, telco, healthcare, transportation, energy, media, entertainment, retail and other consumer industries, as well as the public sector. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that pro...
DSR is a supplier of project management, consultancy services and IT solutions that increase effectiveness of a company's operations in the production sector. The company combines in-depth knowledge of international companies with expert knowledge utilising IT tools that support manufacturing and distribution processes. DSR ensures optimization and integration of internal processes which is necessary for companies to grow rapidly. The rapid growth is possible thanks, to specialized services an...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Docker and Kubernetes are key elements of modern cloud native deployment automations. After building your microservices, common practice is to create docker images and create YAML files to automate the deployment with Docker and Kubernetes. Writing these YAMLs, Dockerfile descriptors are really painful and error prone.Ballerina is a new cloud-native programing language which understands the architecture around it - the compiler is environment aware of microservices directly deployable into infra...