D.A. Davidson Acts as Exclusive Advisor to Literati in Its Sale to Trustbridge Partners

EdTech leader Literati advances mission to close book access gap for students nationwide

AUSTIN, Texas--(BUSINESS WIRE)--D.A. Davidson & Co. announced today that it served as exclusive financial advisor to Literati, a Texas-based education technology (EdTech) company that stages modern student book fairs and subscription book services, in its sale to Trustbridge Partners, a global growth equity firm with approximately $10 billion in assets under management.

“Literati has built something genuinely differentiated in a category that has long been underserved by innovation—combining proprietary data science with a deep commitment to literacy outcomes to become the number two school book fair provider in the United States in just a few years. Trustbridge is an ideal partner to help the company scale that model, and we are proud to have supported Jessica and the Literati team through this transaction,” said Matt Cautero, Managing Director at D.A. Davidson. “Mission-driven EdTech platforms that deliver measurable student outcomes command significant investor interest, and Literati is a compelling example of this.”

Founded in 2016 by entrepreneur Jessica Ewing, Literati is a technology-first platform designed to solve the chronic mismatch between children's reading capabilities and the books they are offered. Through its book clubs, the company combines expert curation with proprietary data science to deliver personalized book selections. Literati members have reported increased daily reading times by an average of 39 minutes. Since launching its school book fair division in 2022, Literati has scaled to become the number two school book fair provider in the United States, achieving nearly $40 million in revenue and reaching 2.5 million students across 4,000+ annual fairs.

"Joining Trustbridge is a deeply intentional move for us. We have long been attracted to partners in publishing who value the very human process of creating art, while also appreciating the ways technology has and will continue to change the game. It's clear Trustbridge has brought together top talent in the industry. I couldn't be more excited to work alongside some of the children's publishing houses I admire most,” said Jessica Ewing, CEO of Literati. “We are grateful to the D.A. Davidson team for their tireless work and genuine commitment to finding a partner who shared our vision for the future of literacy. This outcome reflects not just a strong transaction, but a meaningful alignment of values.”

This transaction reflects the continued momentum of D.A. Davidson's Technology Investment Banking practice and our deep sector expertise within EdTech and software. Since 2020, D.A. Davidson's Technology team has completed 145+ transactions representing more than $25 billion in deal value.

D.A. Davidson’s Investment Banking Division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle-market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions, and technology. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions, and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Greater Los Angeles, New York, Omaha, and Seattle, the company has approximately 1,600 employees and offices in 31 states.

Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment advisor providing fixed income portfolio and advisory services.