LibreDigital Secures $8.1 Million in Funding to Accelerate Delivery of E-books
(Press Release) Austin, Texas, May 20, 2010—LibreDigital Inc. today announced that it has closed an $8.1 million Series C funding round led by new investor S3 Ventures with participation from existing investors Adams Capital Management and Triangle Peak Partners. 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 e-book services for publishers looking to capitalize on the unprecedented demand for e-books, which is being driven by the release of new devices like the Apple iPad. In addition to being a top Apple e-book aggregator, LibreDigital also powers the delivery of content to other digital devices and marketplaces, including Barnes & Noble NOOK, Amazon Kindle, Sony Reader, Google Editions and many more.
"The popularity of the iPad has accelerated the demand for e-books at a much faster pace than many in the industry had previously predicted," said Brian R. Smith, Managing Director of S3 Ventures. "We're making this investment to help LibreDigital speed the delivery of products that help the world's top publishers and e-reader manufacturers bring the highest quality reading experience to digital consumers."
LibreDigital enables publishers, distributors and device manufacturers to securely market and deliver content across an expanding number of digital channels, including e-readers, tablets, smart phones, social networks and online stores. The company offers solutions designed to deliver digital books, newspapers and magazines in the highest quality format possible.
"This year, sales of e-books are expected to double to more than $700 million in the U.S. alone," said Russell P. Reeder, President and CEO of LibreDigital, Inc. "This funding will be used to accelerate the delivery of e-books, and expand our technology offerings to include new solutions that help publishers better promote and sell books to digital consumers."
Working with the world's top publishers, content distributors and device manufacturers, LibreDigital powers billions of page views to millions of consumers worldwide. For more information on LibreDigital, visit http://www.libredigital.com. Twitter: @LibreDigital.