Perlego secures $20 Million investment to advance AI-powered learning solutions
Edtech company Perlego has raised $20 million in its latest funding round, led by former Tesco CEO Sir Terry Leahy.
The investment brings the total capital the digital library provider raised to $75 million, making it one of the UK’s prominent edtech businesses. The new funds will be used to develop AI-driven products to improve access to academic content for learners worldwide.
Perlego, founded in 2017, offers a subscription-based digital library service that provides unlimited access to over one million academic and non-fiction titles. The platform partners with various international publishers, including Cengage, Routledge, and Cambridge University Press, to create a diverse catalogue available in six languages.
The latest investment round included support from several notable investors, such as ITHAKA, the organisation behind the academic platform JSTOR, as well as MediaHuis, Raine, KPN Ventures, and the founders of Kahoot.
Perlego plans to use the funding to expand its services and introduce new AI-powered products that enhance students’ learning experiences.
Launch of AI-powered research assistant
Perlego has launched Dialogo, a new research assistant currently in Beta, as part of its AI development strategy. The tool is designed to help students navigate and utilise Perlego’s extensive library efficiently.
Dialogo is meant to simplify the research process by providing precise, contextually relevant answers grounded in over one million academic titles. The assistant will also offer an overview of the results and direct users to the full text of each cited title, making the research process more streamlined and accessible.
Sir Terry Leahy, who led the investment round, commented on the significance of the initiative:
“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.”
Future impact and expansion plans
The company plans to use the funds to develop Dialogo and support further international expansion. The platform’s partnerships with publishers will also be strengthened, ensuring that authors and publishers benefit from fair compensation and clear attribution while maintaining control over their content.
Gauthier Van Malderen, CEO and founder of Perlego, expressed enthusiasm for the company’s next steps:
“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.”
