Spines raises $64 million to automate book publishing with AI
AI-powered publisher Spines secures $64 million in funding and reports $50 million annual revenue run rate.
KEY POINTS
- Spines secured $64 million in new growth capital
- Annual revenue run rate reached $50 million with 400 percent year-over-year growth
- More than 8,000 American authors have published through Spines
- About 400 new authors join the service each month
- Funding includes a $29 million equity round and a $35 million non-dilutive facility
Spines, an AI-powered publishing startup based in Boynton Beach, has secured $64 million in new growth capital. The company uses artificial intelligence to help authors edit manuscripts, design covers, translate text, market books, and manage social media campaigns.
The financing consists of a $29 million Series A-1 equity round led by Zeev Ventures and a $35 million non-dilutive growth financing facility from Twelve. Existing investors Aleph, NordStar, M-Fund and LionTree participated in the equity round, alongside angel investor Dan Senor.
“We don’t believe the future of publishing is AI writing books. We believe the future is AI giving authors superpowers.”
Spines reports that its annual revenue run rate reached $50 million following 400 percent year-over-year growth. More than 8,000 American authors have published books through Spines, with approximately 400 new authors joining each month.
Founder and CEO Yehuda Niv said the company does not believe the future of publishing is AI writing books. He stated that the future is AI giving authors superpowers, with the writing, story and knowledge coming from the author.
Niv’s interest in publishing began more than a decade ago after his own frustrating experience as an aspiring author. He built Niv Publishing, which eventually became Israel’s largest publishing house, before launching Spines.
The company has offices in Israel and New York and operates as a hybrid publisher. Spines declined to disclose its valuation after the funding.
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