Fundraising Fox

Entangled Publishing

1 known investors

Entangled Publishing is a book publisher presenting a catalog of featured and award-winning titles, including romance fiction.

Also known as Entangled Β· Entangled in Romance

Investors Β· 1

Valuation Β· disclosed

Disclosed events
$400Mvaluation at Minority investmentDec 2025
filing β†—

Source: SEC prospectus filings, and round valuations the company or its investors disclosed β€” follow each entry's link for the claim.

Company profile

researched Aug 2026

Entangled Publishing is an independent American book publisher specializing in romantic fiction for adult and young adult readers, with a particular focus on romantasy. It was founded in 2011 by Liz Pelletier, who serves as CEO and publisher. The company publishes across genres including contemporary romance, erotic romance, fantasy, historical, military, mystery and suspense, new adult, paranormal, science fiction and young adult, organized into a large set of imprints: Amara, Amara Next, August, Bliss, Brazen, Covet, Embrace, Ignite, Indulgence, Lovestruck, Mayhem Books, Mischief Books, One Handed Reads, Red Tower Books, Scandalous, Scorched, Sideways, Teen, Teen Crave and Teen Crush. Additional imprints cited elsewhere include Little Lark, a children's book line announced in February 2023.

The publisher is best known for Rebecca Yarros's Empyrean series β€” including Fourth Wing, Iron Flame and Onyx Storm β€” published under the Red Tower Books imprint launched in November 2022 for romantic fantasy and science fiction. Other notable titles and authors include Jennifer Probst's The Marriage Bargain, Jennifer L. Armentrout's Obsidian, Tracy Wolff's Crave series, Hannah Nicole Maehrer's Assistant to the Villain series and Devney Perry's Shield of Sparrows. Entangled has expanded beyond books into media, with titles in development with Amazon MGM, Legendary Television and NBCUniversal, and it launched Entangled Music in 2015.

As of a December 2025 announcement, Entangled received a minority investment from private equity firm the Chernin Group intended to accelerate its evolution into a diversified media platform spanning content, community, consumer products, gaming, live events and franchise development. Pelletier retains majority ownership and creative control.

Founding story

Entangled Publishing was founded in 2011 by Liz Pelletier, previously a software engineer, who co-founded the company and remains its CEO and publisher. At launch, Pelletier positioned Entangled as a hybrid of traditional and e-publishing models, arguing that the industry was in a transitional rather than declining state, citing book sales of $11.6 billion and e-book sales tripling to $441 million in the prior year alongside the rise of self-publishing on Amazon's 70% royalty terms.

Business model

Entangled acquires and publishes romance, romantasy and young adult fiction from authors, releasing titles in digital-first and simultaneous print/e-book formats across a portfolio of genre imprints, and licenses its properties into other media, including film and television development and graphic novel adaptations. It described a model that melds a traditional publishing business plan with a percentage-of-sales agency model applied across the company, in which staff from copy editors to the marketing director hold a financial stake in each book, keeping overhead low relative to traditional houses.

Revenue derives from sales of e-books and print books across the company's imprints, supplemented by rights licensing for screen adaptations and graphic novels. The company states it pays authors royalties with an escalation clause under which the royalty rate rises as more copies sell, and sets cover prices flexibly rather than holding prices high to reach a break-even point.

Traction

Since its first release in July 2011 Entangled had published more than 970 titles and grown to thirteen imprints, with 42 titles on the USA Today bestseller list and 14 on the New York Times bestseller list, releasing approximately 30-45 titles per month digital-first and four per month in simultaneous print and e-book formats. A 2023 account cited more than 17 New York Times and 39 USA Today bestsellers. Deluxe editions of Fourth Wing (115,000 copies) and Iron Flame (one million copies) sold out, and Onyx Storm was scheduled for a two-million-copy deluxe print run. The company has titles in development with Amazon MGM, Legendary Television and NBCUniversal, and Obsidian was signed for a motion picture.

Latest developments

In December 2025, Entangled announced a minority investment from the Chernin Group, a private equity firm whose other media investments include Audiochuck, Barstool Sports, Hello Sunshine, Crunchyroll and Exploding Kittens; The Wall Street Journal reported the deal valued Entangled at $400 million. CEO Liz Pelletier retains majority ownership and creative control, and the investment is framed as accelerating the company's move into a diversified media platform. Earlier in 2025 the company announced European joint ventures, the Mischief and Mayhem young adult imprints, and an Empyrean graphic novel program; the first Mayhem title, Dragon Cursed by Elise Kova, was slated for January publication.

β–ΈFull profile β€” market position, go-to-market, geography, history, risks & controversies

Market position

Described in press coverage as the leading independent publisher of romance and romantasy books and as the largest independent romance and romantasy publisher. Macmillan's listing describes Entangled as an independent publisher of romantic fiction in adult and young adult markets. The company was ranked number 50 on Fast Company's 2025 list of the World's 50 Most Innovative Companies.

Entangled combines traditional publishing's investment in editorial, cover design and per-title marketing with a lower-overhead, sales-linked compensation structure, allowing flexible pricing and rapid release schedules. Its deluxe special editions β€” heavily adorned covers, sprayed edges and bonus content β€” were credited by The New York Times with influencing broader industry printing practices after Fourth Wing's 115,000-copy deluxe run sold out in a week and Iron Flame's million-copy deluxe run also sold out.

Go-to-market

Entangled sells through retail and direct channels including its own online shop, and distributes in partnership with Macmillan. It assigns a publicist to each book who works with the marketing director on reviewer outreach, advertising placements and book club inclusion. It has used collectible deluxe editions with sprayed edges and metallic covers as a merchandising tactic, and reaches readers through author fandoms and social platforms such as TikTok. International reach is being built through joint ventures with Penguin Random House's Michael-Joseph Books in the UK and Bonnier's Piper Verlag in Germany.

Readers of adult and young adult romantic fiction, including contemporary, erotic, historical, paranormal, military, mystery/suspense, science fiction and fantasy romance; separate lines target teens aged 13 and older (Mischief Books) and 16 and older (Mayhem Books). The company also markets directly to authors seeking a publisher, accepting submissions and pitches across its imprints.

Geography

United States-based, with company records listing Fort Collins, Colorado. International expansion is pursued through joint ventures in the United Kingdom (Penguin Random House's Michael-Joseph Books) and Germany (Bonnier's Piper Verlag), with the new Mischief and Mayhem imprints debuting in the US and being incorporated into the European joint ventures.

History

Entangled released its first title in July 2011. By 2013 it had begun collaborating with Macmillan and St. Martin's, a distribution and publishing relationship reflected in Macmillan's publisher listing for Entangled. In 2015 the company launched Entangled Music. In November 2022 it announced Red Tower Books, an imprint for romantic fantasy and science fiction with seven titles scheduled for 2023, including Fourth Wing. In February 2023 it announced a children's imprint, Little Lark, for launch that fall. In February 2025 it announced two young adult imprints, Mayhem Books (aimed at readers older than 16, with initial releases scheduled for fall) and Mischief Books (for readers 13 and older, planned for 2026). In March 2025 a graphic novel adaptation partnership for the Empyrean series with Ten Speed Graphic and Piatkus was announced. In 2025 the company also announced joint ventures with Penguin Random House's Michael-Joseph Books in the UK and Bonnier's Piper Verlag in Germany, and in December 2025 it received a minority investment from the Chernin Group.

Risks & controversies

In March 2022, writer Lynne Freeman filed a lawsuit in the Southern District of New York against literary agent Emily Sylvan Kim and Entangled Publishing, alleging that her 2010 manuscript Blue Moon Rising was appropriated for Tracy Wolff's Crave series; Universal Studios was also implicated over its option of rights to the series. Separately, buyers of the deluxe edition of Iron Flame reported damaged and bleeding sprayed edges, typos, missing pages, and upside-down pages and endpapers, prompting Entangled to issue refunds and to state that it took extra care ahead of the Onyx Storm print run.

Compiled by commissioned research from 8 cited public sources β€” announcements, filings, and press listed under research sources below.

Key figures

latest reported
Company valuationDec 2025$400M
Employee rangeJan 20251-10
Fourth Wing deluxe edition print runJan 2023115,000 copies
ImprintsJan 201613 imprints
Iron Flame deluxe edition print runJan 20231,000,000 copies
Monthly digital-first releasesJan 2016approximately 30-45 titles per month
Monthly simultaneous print and e-book releasesJan 20164 titles per month
New York Times bestsellersApr 202317 titles
New York Times bestselling titlesJan 201614 titles
Onyx Storm deluxe edition planned print runJan 20252,000,000 copies
Titles published since first releaseJan 2016970 titles
USA Today bestsellersApr 202339 titles
USA Today bestselling titlesJan 201642 titles

Company-reported or press-reported figures, each dated to when it was claimed β€” not independently audited.

Timeline Β· 9

launches, deals, and filings
Dec 2025
Entangled receives minority investment from the Chernin Group

Private equity firm the Chernin Group took a minority stake in Entangled Publishing; cofounder and CEO Liz Pelletier retains majority ownership and creative control. The Wall Street Journal reported the deal values Entangled at $400 million. The investment is intended to accelerate Entangled's expansion into a diversified media platform across content, community, consumer products, gaming, live events and franchise development.

source β†—

Mar 2025
Empyrean graphic novel adaptation partnership

Entangled announced a partnership with Ten Speed Graphic and Piatkus to adapt Rebecca Yarros's Empyrean series into graphic novels.

source β†—

Feb 2025
Mischief Books and Mayhem Books young adult imprints announced

Two young adult imprints were announced: Mayhem Books, focused on teenagers older than 16 with initial releases scheduled for fall, and Mischief Books, planned for 2026 for readers 13 and older. The imprints debut in the U.S. and are to be incorporated into Entangled's European joint ventures; the first Mayhem title is Dragon Cursed by Elise Kova, publishing in January.

source β†—

Jan 2025
Ranked No. 50 on Fast Company's World's 50 Most Innovative Companies of 2025

source β†—

Jan 2025
Joint ventures with Michael-Joseph Books (UK) and Piper Verlag (Germany)

Entangled announced joint ventures with Penguin Random House's Michael-Joseph Books imprint in the United Kingdom and Bonnier's Piper Verlag in Germany.

source β†—

Feb 2023
Children's book imprint announced

Entangled announced a new imprint dedicated to children's literature, scheduled to launch in fall 2023; the company's imprint list includes Little Lark.

source β†—

Nov 2022
Launch of Red Tower Books imprint

Entangled announced Red Tower Books, an imprint for romantic fantasy and science fiction, with seven titles scheduled for 2023 including Rebecca Yarros's Fourth Wing.

source β†—

Mar 2022
Plagiarism lawsuit filed over Crave series

Writer Lynne Freeman filed suit in the Southern District of New York against literary agent Emily Sylvan Kim and Entangled Publishing, alleging her 2010 manuscript Blue Moon Rising was appropriated for Tracy Wolff's Crave series.

source β†—

Jan 2015
Launch of Entangled Music

CEO Liz Pelletier launched Entangled Music in 2015, extending stories through music.

source β†—

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

β–ΈResearch sources Β· 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Entangled Publishing do?
Independent US publisher of romance, romantasy and young adult fiction, best known for Rebecca Yarros's Empyrean series.
Who are Entangled Publishing's investors?
Entangled Publishing's investors include The Chernin Group (TCG Crypto).