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."
"Knitting together traditional and new content sources with the various mobile devices consumers use to access it can be a daunting task for any publisher," Russell P. Reeder, President and CEO of LibreDigital, Inc. "We're making the entire process seamless no matter what device or content source publishers need to feed. The support of our investors will allow us to service more customers more quickly, while delivering new innovations and applications as content delivery continues its evolution into the digital age."
LibreDigital works with six of the world's top ten book publishers, including HarperCollins Publishers, Hachette Book Group, Simon & Schuster and Wiley, and many of the leading newspapers. It helps them to deliver their content across an expanding array of digital channels, including eReaders, search engines, online stores and mobile devices. LibreDigital also helps publishers market and control their valuable works across digital formats, including ePub and other eBooks formats, eInk, online, mobile and new print-on-demand delivery options.
For more information on the LibreDigital solutions, visit www.libredigital.com.
Follow us on Twitter: @LibreDigital.
LibreDigital makes it profitable to manage and market digital content, providing a web-based warehouse and distribution platform for six of the top ten book publishers and over 175 newspapers and periodicals. LibreDigital's on-demand solution allows publishers to store and secure digital content in any form, and to deliver content on demand to any marketplace, consumer, or device. LibreDigital serves the world's top firms in over 120 countries including HarperCollins Publishers, Hachette Book Group, John Wiley & Sons and Simon & Schuster. Backed by Adams Capital Management, Triangle Peak Partners, Noro-Moseley Partners, the New York Times Company, and HarperCollins Publishers, LibreDigital partners with a number of industry leaders, including Baker & Taylor, to provide a full range of solutions. LibreDigital is based in Austin, Texas, with offices in New York City and the United Kingdom.