Ilustrata was established in 1991 by Angela Reynolds, to handle the co-edition and translation rights into Spanish and Portuguese. Initially, the agency represented publishers of illustrated books of all types, from art to cookery; children's and YA fiction, illustrated and reference books; and the mind-body-spirit area. Five years later, the agency began to represent fiction for adults, as an extension of the YA fiction, and also represented Spanish authors for many years. In 2010, it entered a new area, representing Spanish and Portuguese publishers for their translation rights worldwide, with a network of co-agencies in other countries.

In 2018, Livia Stoia Literary Agency became a partner in Ilustrata, and in early 2020, Livia Stoia acquired the agency.

Ilustrata sells rights in Spain, Portugal, Latin America, but also in Europe and Asia via co-agents. Its portfolio contains a wide variety of titles, authors and topics, from fiction to nonfiction and from practical books to children's literature.