News Brief

LibreDigital Secures $15 Million Funding Round

Highlighting the renewed vitality of the e-book business, LibreDigital has landed $15 million in second-round funding led by Triangle Peak Partners and previous investor Adams Capital Management. Other key investors include HarperCollins Publishers, The New York Times Company and Noro-Moseley Partners.

LibreDigital, a digital content provider that supplies material for e-book readers and other formats, said it will use the new capital to expand marketing and development of its platform.

Among LibreDigital's partners is ScrollMotion, a mobile application developer spotlighted at Apple's developer conference in June. ScrollMotion last month announced an agreement with LibreDigital allowing the company to offer access to 170 newspapers and 50 magazines from publishers such as HarperCollins and Simon & Schuster.

Strong sales for Amazon's Kindle e-reader over the last two years have helped reignite wider interest in the e-reader market by investors, entrepreneurs and publishers. Most recently, Amazon bookselling rival Barnes & Noble launched an eBookstore offering 700,000 titles and letting people obtain e-books on various handheld devices including the iPhone and BlackBerry, as well as most Windows and Mac computers.

In connection with the LibreDigital funding, Triangle Peak Partners President David L. Pesikoff will join the Austin, Texas-based company's board of directors.--Mark Walsh

Tags: books, mobile
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