An Austin-based book subscription service raises $40 million

Established in 2017, Literati sends parents a curated box of five children’s books each month, for a monthly membership fee of $9.95. Parents can purchase the books or return them for free. Last year, Literati expanded its offerings to include five book clubs led by brand-name authors and celebrities, with one selection per month. The company says it is growing at an annual rate of 300 percent and employs 110 people. Learn more.