# Readmill

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/readmill

- Industry: Internet
- Headquarters: Berlin, Germany
- Website: readmill.com
- Total disclosed funding: $0.4M
- Latest round: Series A (Jun 12, 2012)
- Investors on record: 3

## About

Readmill was a digital reading platform that allowed users to annotate ebooks and share insights, enhancing the reading experience through community engagement and interactivity.Founded in 2010 in Berlin, Germany, Readmill provided a reading application for both iOS and Android devices. The company had a notable pivot in its business strategy culminating in its acquisition by Dropbox, Inc. on March 28, 2014, for USD 8 million. It raised a total of USD 0.28 mn across multiple funding rounds, with the last known round being an Add-on, Trade Sale led by Dropbox, Inc. The company was established by an individual founder whose prior ventures are unspecified.Readmill primarily offered an open, independent reading platform through its reading application, available on iOS and Android devices. The app enabled users to annotate texts, highlight passages, and share insights with a global community of readers. This functionality aimed to enhance the reading experience and foster discussions around literature, appealing to avid readers looking for social interaction. The service catered to individual users in various markets, including the United States, Europe, and parts of Asia, focusing on a seamless user experience by allowing for the export of reading data and books.Readmill operated on a freemium model, allowing free access to its platform while exploring monetization through partnerships and subscription services. Although exact revenue figures were not disclosed, the company’s financial strategy included avenues such as app subscriptions and collaborations with other digital services. The platform allowed users to upload and manage their ebooks, creating an ecosystem conducive to ongoing transactions through in-app purchases or premium features, though specific pricing plans were not provided.The most recent funding round, occurring on March 28, 2014, involved an acquisition by Dropbox, Inc., for USD 8 million. Following this acquisition, Readmill’s future growth plans have not been detailed, suggesting a strategy centered on integration with Dropbox's services rather than standalone product launches or geographic expansions.

## Funding rounds

- Series A, Jun 12, 2012 — Wellington Partners
- Seed, Sep 1, 2011, $0.4M — Index Ventures, Passion Capital

## Investors

- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Seed
- Passion Capital — Seed
- Wellington Partners (https://capitalatlas.ai/funds/wellington-partners) — Series A