LibreDigital Secures $15 Million in Funding to Accelerate Delivery of eBooks and Digital Newspapers
AUSTIN, Texas – July 29, 2009 – LibreDigital, Inc. today announced that it has closed a $15 million Series B funding round led by new investor Triangle Peak Partners and existing investor Adams Capital Management. The company's other key investors include HarperCollins Publishers, The New York Times Company and Noro-Moseley Partners. The new capital infusion will be used by LibreDigital to expand marketing and development of the company's industry-leading digital platform, designed to help publishers go direct to consumers as they access, buy, read and share content across online and mobile platforms.
"As eReaders and mobile devices continue to be adopted by consumers, demand for books & newspapers in digital formats is out-pacing supply – making it one of the fastest-growing and most exciting areas in the media and entertainment industry," said David L. Pesikoff, Co-Founding Partner of Triangle Peak Partners. "The LibreDigital platform is helping the world's top publishers meet this demand by enabling them to deliver content across emerging digital platforms and devices."
In addition to securing its recent funding round, LibreDigital announced that it has named Triangle Peak Partners President, David L. Pesikoff, to the LibreDigital board of directors. He joins current board members, Martin Neath, Chairman and General Partner of Adams Capital Management; Brian Murray, CEO of HarperCollins Publishers; Scott Heekin-Canedy, President of The New York Times Company; and Jeremy Halbreich, CEO, Sun Times Media Group.
"As the universe of digital distribution expands, the technology from LibreDigital will help publishers successfully deliver their content to millions of consumers across thousands of digital marketplaces and mobile devices worldwide," said Scott Heekin-Canedy, president and general manager, The New York Times.
"Already powering billions of page views and online content sales across digital channels, LibreDigital is uniquely positioned to be the top content delivery platform for publishers," said Martin Neath, Chairman of LibreDigital and General Partner of Adams Capital Management. "We look forward to working with the talented team at LibreDigital as they expand development of their technology to empower publishers to take advantage of a market where demand for eBooks and eEditions is projected to exceed $2 Billion by 2012."