Australian self-publishing e-book startup Tablo has secured $400,000 in seed funding from investors.
Founded in 2012 by the then 19-year-old Melbourne-based Ash Davies, Tablo is hoping to change the self-publishing model by giving authors complete control over their work and royalties.
“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,” he said.
It’s revenue model is based on subscriptions where authors can sign up to monthly plans allowing them to publish a number of books. There’s more on that here.
Lead investors include former Catch of The Day CEO Paul Reining who will be joining the Tablo team as a director, as well as Y Combinator director Kevin Hale and Tablo author John Buck who reinvested his book’s earnings into the startup.
“What really impressed me is his longer term vision for the writing and publishing industry and importantly his ability to execute upon this vision,” Reining said.
The funding will be used to make some new hires and develop more social community features in the product.