Sweden-based media subscription service Readly has secured €13m ($14.6m) in a series B round that included media company Channel 4’s Commercial Growth Fund.
The round also featured Aggregate Media Fund, the VC fund backed by Sweden-headquartered corporates including Bonnier Media, as well as funds managed by Zouk Capital and Hermes GPE.
Readly operates a service that enables subscribers to access a wide range of international publications through a single app. Aggregate Media Fund had invested 20Skr ($2.3m) in Readly as of June 2016 but it is unclear whether that constituted part of the series B round.
Per Hellberg, Readly’s chief executive, said: “This new round of funding allows Readly to bring more titles to a wider audience in more countries and fulfil our aim of being at the cutting edge of the revolution in digital publishing.
“We have seen dramatic growth over the past twelve months, with 100% increase in paying subscribers in 2016 and these growth rates are continuing into 2017. We are delighted to have the support of our existing investors and to welcome new partners on board.”