Perlego, often referred to as the ‘Netflix of textbooks,’ has rapidly emerged as a leading player in the UK’s edtech industry after Euan Blair’s edtech firm Multiverse.
Now the subscription-based digital library has raised $20M led by former Tesco CEO Sir Terry Leahy, bringing total funding to $75M to expand and develop AI-powered learning tools. This new round, which also saw participation from ITHAKA (the organisation behind JSTOR), MediaHuis, Raine, KPN Ventures, and the founders of Kahoot, making it one of the largest edtech businesses in the UK.
Founded in 2017 by Gauthier Van Malderen and Matthew Davis, Perlego was born out of a desire to address the high costs of academic textbooks—a burden many students face. By offering a subscription-based model, the platform provides unlimited access to over 1 million titles across various subjects, making quality educational resources more accessible and affordable.
Their latest innovation, Dialogo, is an AI research assistant that helps students locate credible sources efficiently from their vast digital library.
AI-powered learning tools transforming academic research
The digital age has provided students with vast resources for research, but finding credible, reliable sources remains a challenge for many. Traditional methods of keyword searches can be time-consuming and often miss critical context, leading researchers to explore new tools. The rise of AI is changing that dynamic, with over three-quarters of researchers now using AI-driven tools to aid their work.
Perlego’s latest innovation, Dialogo, is an AI-powered research assistant designed to bridge the gap between students and the academic content they need. With this tool, students will be able to quickly locate relevant sources from Perlego’s extensive library, receive comprehensive overviews of results, and directly access full texts of the cited works. Unlike general AI chatbots, Dialogo provides verifiable and academically credible sources, contributing to both efficient learning and the integrity of academic work.
“Perlego is addressing one of the most pressing challenges in modern education – access to essential learning materials,” said Sir Terry Leahy. “This investment is a vote of confidence in Perlego’s innovative approach to learning and the platform’s potential to reshape the educational landscape. Investing in the futures of young people has always been a passion of mine, and I am particularly committed to funding research in areas of regional disparity. I look forward to seeing how the business continues to transform access to education, and I am incredibly proud to play a part in the journey that aligns so closely with my own values.”
Democratising learning on a global scale
Perlego is said to be on a mission to democratise education by providing students with unlimited access to over one million academic titles. The platform has partnered with thousands of international publishers including top academic names like Cengage, Routledge, Cambridge University Press, Elsevier, and Harvard University Press, offering content in six languages. Its subscription-based model is already used by more than 250 educational institutions worldwide, giving students and professionals access to a rich and diverse collection of academic, professional, and non-fiction resources.
The new $20M investment will support Perlego’s plans to expand its footprint globally and develop AI-powered products that make learning even more accessible. The company aims to serve a growing number of learners and institutions, bringing affordable academic content to students in both established and emerging markets.
Gauthier Van Malderen, Perlego’s founder and CEO, said: “This investment represents a vital opportunity to drive meaningful change in education and AI more broadly. We’re passionate about providing accessible yet game-changing solutions to education. With the support of Sir Terry Leahy and our strong team of investors, we are excited to accelerate our growth and continue to empower learners worldwide.”
A future-focused platform
Perlego’s focus on AI-enhanced learning solutions not only benefits students but also creates a sustainable and fair ecosystem for publishers and authors. By providing clear attribution and fair compensation, Perlego is positioning itself as an ally to content creators while fostering a thriving academic community.
With the added backing from this funding round, Perlego is set to enhance its offering and reach more learners across the globe, helping to address the accessibility challenges in modern education. From its innovative research assistant Dialogo to its expansive digital library, Perlego is well on its way to becoming a transformative force in the academic world.
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