16:37 | 01.06.17 | News | 79327

Suren Markosian’s Epic! digital library announces USD 8 million in funding

U.S.-based Epic! leading digital library for children, developed by founder of List.am Suren Markosian, announced USD 8 million in Series C funding.

The investment is led by Reach Capital with participation of TransLink Capital, Rakuten Ventures, Menlo Ventures, WI Harper, Brighteye Ventures and Innovation Endeavors.

The company will use the funds to accelerate growth, expand its team and build out its platform.

Epic! is a digital media brand for kids 12 and under. Epic! was founded by Suren Markosian and Kevin Donahue, former YouTube, Google and Disney executive.

The company has raised a total of USD 21,4 million in three rounds.

Currently Epic! is used in 87% of American elementary schools. It is available on AppStore, Google Play, as well as Kindle.

“Providing kids with a funny and expansive platform for interest-based reading and learning, Epic! has become a leading digital brand at homes and schools nationwide. We’re excited to have Reach Capital lead this round, because their deep knowledge and passion for education will be very valuable to us as we grow,” CEO of Epic! Suren Markosian said.

More than 160 million books have been read on Epic! since the launch with about 24 million books read each month.

Launched in January of 2014, the company has already cooperated with more than 250 leading publishers and video providers such as HarperCollins, Macmillan, Sesame Workshop, National Geographic Kids and Smithsonian Enterprises.

Content on Epic! is carefully selected by a team of children’s publishing experts, while the powerful recommendation algorithm tailors content offerings to each child’s reading level and preferences.