With more than 10,000 authors from 100 countries on its platform, Australia-based e-book publishing platform and writing community Tablo has today announced raising AU$400,000 (US$376,000) in seed funding.
The investment was led by Paul Reining, the former CEO of the Catch Group, who has joined the company as a Director and Advisor. Other participants include Kevin Hale, Partner, Y Combinator, and John Buck, an author with Tablo.
Previously, Tablo, which was founded in 2012, had secured US$20,000 from Australia-based mentor-driven accelerator Angelcube, which only accepts 10 startups a year.
In an official statement, its 21-year-old Founder Ash Davies said, “I started working on Tablo after I struggled to publish my own book. A lot of people think that, because publishing has gone digital, that it’s simple. It’s still incredibly complicated and expensive though, and it’s even harder for an author to have their work discovered.”
The company generates revenue via a freemium model, where authors can create and join the community for free. However, they can take advantage of premium writing and sharing tools, as well as access to publishing their books in major bookstores, for a small monthly fee.
The new injection of funds will be used to grow the team and roll out new features. Going forward, the company will focus on building social community features, and allow authors to connect with one another.
Davies told e27, “A lot of our attention will be on the broader publishing model, and on the success of our own authors. We’re working to redefine the way new books are discovered and help our authors reach more readers.”
In Singapore, there is Echelon alumnus Publishizer which fulfils a slightly different function in e-publishing. It will be even more beneficial for authors alike if these platforms could work together and use their respective advantages to make book publishing a much less tedious and lonely pursuit.