Scribd raises $58 mln
Summary
Scribd is an unlimited reading subscription service that provides access to books, audiobooks, news and magazine articles, documents and more. Over the past two years, Scribd has achieved major milestones including surpassing over one million paying subscribers, introducing localized experiences for international markets, and nearly doubling its employee base. “We’re excited to partner with Spectrum Equity, a firm with deep expertise in high growth subscription businesses, as we prepare for the future,” said Trip Adler, Founder and Chief Executive Officer. For over 25 years, the firm has partnered with proven entrepreneurs and management teams to build long-term value in market-leading software, information services and Internet companies. Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, GoodRx, Grubhub, Headspace, The Knot Worldwide, Lynda.com, SurveyMonkey and Verafin.