eBook publisher Open Road raises $11m to acquire content and technology
by Curtis Lee Fulton
Private equity firm NewSpring Capital says it’s invested $11.0 million in the Open Road eBook publisher. Open Road says it will use the funds to acquire “appropriate content and technology companies.” The publisher says it will also use the capital to enhance its technology platform and grow revenue through distribution deals and by expanding its marketshare through a global partnership program.
Open Road recently inked eight global partnerships, including agreements with Mondadori, Barcelona eBooks, and A.W. Bruna. The company also expanded overseas merchandising and marketing efforts for its English titles.