Total amount raised
$51.5 Million
Latest funding date
6/1/2020
Location
Epic has successfully raised funding over seven rounds, with the latest being a Series D round. The platform is a digital media brand for kids, encouraging exploration and learning in a safe environment.
Keep reading to explore the intricacies of Epic's fundraising journey and the investors backing this innovative platform.
What Is Epic?
Epic is a digital media brand for kids, encouraging exploration and learning in a safe environment. The company operates in various industries, including EBooks, Education, Media and Entertainment, Publishing, and Subscription Services. Located in Palo Alto, California, Epic has an employee count ranging from 101 to 250.
Epic offers a subscription-based model for accessing a vast collection of over 40,000 high-quality books, audiobooks, and learning videos. The platform is designed to inspire a lifetime of reading and discovery among children, catering to families, educators, and students.
How Much Funding Has Epic Raised?
- Seed Round
- Amount Raised: USD 1,400,000
- Date: January 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the platform and build initial content.
- Series A
- Amount Raised: USD 4,050,024
- Date: December 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the digital library and enhance platform features.
- Series B
- Amount Raised: USD 7,999,987
- Date: December 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase user acquisition.
- Series C
- Amount Raised: USD 8,000,000
- Date: May 2017
- Lead Investors: Reach Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the content library and improve user engagement.
- Series D
- Amount Raised: USD 30,000,000
- Date: January 2019
- Lead Investors: Creative Artists Agency, Evolution Media
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance platform capabilities and expand market reach.
- Series D
- Amount Raised: Not publicly disclosed
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and development during the COVID-19 pandemic.
Total Amount Raised: USD 51,450,011
Current Valuation: Not publicly disclosed
Key Investors
- 500 Global
- Details: 500 Global is a venture capital firm that participated in Epic's Series D funding round. They are known for investing in early-stage startups across various sectors.
- Investment Focus Areas: Technology, Consumer Products, Fintech
- Notable Investments: Canva, Credit Karma, Udemy
- Maven Ventures
- Details: Maven Ventures is a venture capital firm that also participated in Epic's Series D funding round. They specialize in consumer software and services.
- Investment Focus Areas: Consumer Software, Services, Technology
- Notable Investments: Zoom, Chariot, Cruise
- Evolution Media
- Details: Evolution Media is the investment arm of Creative Artists Agency, a significant entity in the media and entertainment industry. They led Epic's Series D funding round in January 2019.
- Investment Focus Areas: Media, Entertainment, Technology
- Notable Investments: Not publicly disclosed
- Reach Capital
- Details: Reach Capital is a venture capital firm that led Epic's Series C funding round. They focus on investing in education technology companies.
- Investment Focus Areas: Education Technology, Learning Platforms, K-12 Education
- Notable Investments: ClassDojo, Nearpod, Handshake
What's Next for Epic?
Epic stands at the cusp of significant growth opportunities. With a current subscriber base of 1.7 million and over a million teachers using its free service, the platform is well-positioned to expand its digital library and increase its subscriber base. Leveraging partnerships with brands like Disney and National Geographic, Epic can offer additional educational content, such as quizzes and videos, to enhance user engagement.
Future fundraising opportunities appear promising, given Epic's recent $30 million raise. The company may continue to attract investment from venture capital firms and strategic investors in the media and education sectors. This influx of capital could further scale operations and expand its content library, positioning Epic as a leader in the digital educational content market.
However, challenges lie ahead. Epic must navigate competition from other digital book subscription services and educational content providers. Maintaining and updating a large digital library to keep content fresh and engaging will be crucial. Balancing the free access model for teachers with the need to generate revenue from subscriptions will also be a key consideration. Despite these challenges, Epic's potential for growth and innovation remains strong.
Use Clay to Get Funding Data
Sales professionals, leverage Clay's platform to access comprehensive fundraising data on companies like Epic and gather other critical business insights. Sign up for free to start enhancing your sales strategies today.
