Perlego raises $20M to scale up its edtech with AI

Perlego, a subscription-based digital library providing unlimited access to academic titles, has secured $20 million in the latest funding round led by former Tesco CEO, Sir Terry Leahy. ITHAKA, the company behind JSTOR, the digital library of academic journals and books, has also supported Perlego on its mission to provide accessible learning materials.

The investment, also backed by MediaHuis, Raine, KPN Ventures and the founders of Kahoot, takes the total raised to $75 million.

Perlego, founded in 2017, is a subscription-based digital library that aims to make learning more accessible by offering unlimited access to over one million educational titles.

Perlego uniquely partners with thousands of international publisher brands, offering an unparalleled catalogue of academic, professional and non-fiction content in six languages from the likes of Cengage, Routledge, Cambridge University Press, Elsevier and Harvard University Press. It is used in over 250 educational institutions worldwide.

The latest raise will allow Perlego to expand its footprint, serve more learners and institutions internationally and leverage AI to power new products designed to improve access to academic content. Today, Perlego announces the launch of Dialogo, the new AI-powered Research Assistant.

Defining a topic and finding the right sources, from traditional printed textbooks to basic online research, can be challenging and time-consuming for many students. Traditional keyword searches lack the complexity to understand context, leading many students to AI to accelerate their research methods. In fact, over three quarters of researchers report using an AI tool in their research. Despite AI chatbots being useful for quick topic explorations and creating general outlines, it is still hard to verify where the information comes from and whether it is accurate or academically credible.

Dialogo, the Research Assistant will allow students to find the most relevant sources within Perlego’s library of academic titles, provide an overview of the results and point students toward the full text of every title cited, building a bridge between students and the information.

Not only will the launch benefit those learning, but it will also contribute to building a fair, thriving ecosystem for publishers and authors by providing clear attribution, fair compensation, and content control.

On the raise, Sir Terry Leahy said: “Perlego is addressing one of the most pressing challenges in modern education - access to essential learning materials. 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.”

Gauthier Van Malderen, Founder and CEO of Perlego, 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.”