Software company founded by US-Armenian businessman secures $30m in venture capital giving product away

Evolution Media, the investment arm of the well-known and influential Creative Artists Agency (CAA), has made a $30 million investment in Epic!, a consumer-facing, five-year-old education technology company.

Epic! is a digital reading platform, an online library of sorts, for kids 12 and under. It boasts more than 35,000 books, audio books and videos from 250 publishers including big brand names such as Sesame Street and National Geographic, according to Forbes.

“Our offerings are three times the size of an average elementary school library,” said Kevin Donahue, an Epic! co-founder. “It’s an environment where kids are really in control,” he said.

And while the company is unquestionably consumer-oriented, selling a subscription service for $7.99 a month for unlimited access, Epic! gives the service away to teachers and schools. Making it free at school, for schools, definitely increased brand awareness, said Suren Markosian, co-founder and CEO. “Early on we knew that teachers using it, adapting it was important. And they are our most active audiences,” he said.

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