Perlego, the London-based online academic book subscription service, has raised $50m in a series B funding round which was led by Media Ventures, a VC subsidiary of pan-European news group Mediahuis. The intention is to grow geographically with particular emphasis on expansion in US markets against a backdrop of high price inflation in the traditional textbook market.
Perlego operates across a range of publishers and offers an “all you can read” subscription model. The service has achieved 400k users across 6,000 learning institutions, of which 40% are in the US. Many of the world’s major academic publishers use the service including Harvard University Press, Cambridge University Press, and Elsevier.
