LibreDigital secures US$4M to fund core business areas, accelerate delivery of digital reading technologies, also signs deal to provide high resolution magazines, newspapers to platforms like NOOKcolor, Sony
February 1, 2011
– LibreDigital announced today that it has secured $4 million in additional capital. The investment will fund key initiatives in the company's core business areas and accelerate the delivery of innovative digital reading technologies.
"LibreDigital has powered digital reading for ten years and our ability to span books, magazines, and newspapers is unique," said Russell P. Reeder, President and CEO of LibreDigital. "This investment will enable us to go to market faster and bring new technology offerings to our customers across all three media types."
LibreDigital's footprint in digital reading is broad and strategic. In 2010, the company became a preferred content aggregator for the Apple iBookstore and is one of the largest providers of book content to Apple. The company also signed deals to provide high resolution magazines and newspapers to leading color reading platforms including NOOKcolor, Sony and others. In addition, LibreDigital provides a secure HTML5 reader for major publishers who are offering free content in the Starbucks Digital Network via the Bookish Reading Club.
This new round of funding will enable LibreDigital to expand on these successful initiatiatives more quickly in 2011, positioning the company to power new reading experiences and provide secure HTML5 reading technology across all media types. These products and services will add to LibreDigital's portfolio of key relationships which already include e-book distribution for 7 of the 10 largest US trade publishers, provider of electronic replica editions for The New York Times, e-book fulfillment for partners like Baker & Taylor/Blio and Harlequin, and book, magazine, and newspaper distribution to more than 50 digital retail marketplaces including Amazon, Google, Apple, Barnes & Noble and Sony.
By marketing and delivering millions of e-books, newspapers and magazines across leading digital devices and platforms, LibreDigital is powering the growth of digital reading.
LibreDigital develops technology that helps consumers to discover and read their favorite books, newspapers and magazines when and where they choose to read. The company's solutions power the promotion, sales and delivery of content on-demand across the web or to any marketplace or device - including the Apple iPad and iBookstore, Google, Amazon Kindle, Barnes & Noble NOOK, Sony Reader, the Blio eReader and many more.
LibreDigital has served billions of page views to millions of readers worldwide. The company's customers and partners include Apple, Barnes & Noble, Baker & Taylor, Hachette Book Group, HarperCollins, Kaplan, The New York Times, Simon & Schuster, and Sony. Backed by Adams Capital Management, Triangle Peak Partners, S3 Ventures, Noro-Moseley Partners, and HarperCollins Publishers, LibreDigital is based in Austin, Texas, with offices in New York and London.