Scribd Secures $22M in Financing

By Maryann Yin Comment

Scribd Logo 2The executives at Scribd have managed to raise $22 million in financing.

One new backer and three previous investors have contributed to this pool of funds: Khosla Ventures, Redpoint Ventures, Charles River Ventures and Silicon Valley Bank. In addition, Khosla Ventures partner Keith Rabois has signed on to join the company’s board to serve as a board observer.

Scribd CEO Trip Adler gave this statement in the press release: “We had a fantastic 2014 at Scribd. We launched audiobooks with 30,000 titles from publishers like Blackstone and Scholastic. We also doubled our e-Book titles, adding content from 1,000+ publishers – including Big 5 publishers Harper Collins and Simon & Schuster – along with industry leaders like Harlequin, Houghton Mifflin, Lonely Planet, Perseus and Wiley. This new funding round will enable us to work towards achieving our goal of creating the most comprehensive library of the future for our millions of users around the world.”