Cloud-based publishing tool maker Madefire raises $5.2M
by Curtis Lee Fulton
Cloud-based publishing tool maker Madefire says it’s raised Madefire $5.2 million in funding. The investment was lead True Ventures, which invested $1.1 million in Madefire in October 2011.
Madefire’s system produces eBooks in a format it calls “Motion Books,” which are made up of “words, pictures, sound, motion and interactivity.”
The company says it plans to use the capital to produce “a continuous flow of original weekly material exclusive to the Madefire App and online.”
Madefire says it’s already inked partnerships with comic book publishers that want to distribute their content in the Motion Book format, including IDW, Top Cow, Boom and iTV Studios America.
In to True Ventures, Madefire also raised money from Anthem Venture Partners, Crosslink Ventures and Correlation Ventures also participated in the funding round.
Several angels also investested in Madefire as well, including former Apple SVP of Applications Sina Tammadon, former Macromedia chairman Bill Woodward, media entrepreneur and investor Richard Seet and Hollywood attorney Gary Stiffelman.