Audiobook firm xigxag turns up volume on growth plans

A technology company is attracting fresh investment as it looks to transform the way people read and listen to books.

xigxag, founded in 2019 by Kelli Fairbrother and Mark Chaplin, has secured funding from a group of leading angel investors including Lifted Ventures, Alma Angels and the founders of World of Books. 

Bosses say the investment will support the firm’s plans to expand its audiobook platform and make reading more accessible and engaging for global audiences.

The company has developed an app that blends listening and reading, allowing users to view text and illustrations, search, take notes and switch between formats seamlessly. 

Its model offers more than 125,000 titles to customers across 60 countries.

And having doubled its business twice in two years without paid marketing, xigxag is now targeting a £650,000 EIS funding round at a £6.5 million valuation. 

The company is aiming to grow into a £1 billion global tech company from its UK base.

Kelli said: “Our goal is to make it easy for everyone, regardless of age, ability or background, to enjoy the magic of books.

“Books have the power to change lives, and we are ensuring everyone has the opportunity to experience that power in a way that is affordable, sustainable and truly transformative. 

“We’re delighted to have secured funding from a group of Lifted Ventures angel investors, alongside successfully exited World of Books founders Stephen Boobyer and Ken Blair, to further develop our technology and scale xigxag so even more people around the world can discover and enjoy books in a completely new way.”

Helen Oldham, co-founder at Lifted Ventures, added: “xigxag is redefining the way people experience books. 

“Their innovative approach, strong growth and clear vision make them an ideal investment for members of our angel network, and we are excited to support their journey as they scale globally.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →