Spines announced a $29 million equity round and a $35 million growth-financing facility on Monday, pairing venture capital with debt to expand its author-paid AI publishing business.
Zeev Ventures led the Series A-1, and Twelve provided the facility. Founder and chief executive Yehuda Niv told Calcalist he preferred paying interest to funding all of Spines' growth through equity.
Authors bring Spines a manuscript, then use its AI tools to prepare the text, design a cover and produce print, electronic or audio editions. Human editors and designers are available for additional support.
The company earns production fees, subscriptions and a share of book royalties. Its advertised publishing plans include three years of membership, while its service terms make continued distribution conditional on an active subscription.
Niv told Calcalist that Spines had reached an annual revenue run rate of about $50 million, compared with $5 million two years earlier. Zeev Ventures also led its $16 million Series A in November 2024.
Spines currently translates English books into seven languages using AI and review by native-speaking professionals. The company plans to increase that offering to 20 target languages over the next six months.