July 29, 2009
New Investor, Triangle Peak Partners Leads $15 Million in Series B Funding for LibreDigital
Based in Austin, Texas, LibreDigital, Inc. announced today that it had closed a $15 million in series B funding with new investor, Triangle Peak Partners leading the funding round. Other investors who participated in this round of funding include Adams Capital Management, HarperColling Publishers, the New York Times, and Noro-Moseley Partners.
LibreDigital provides a service that makes it profitable to manage and market digital content. LibreDigital does this by digitally warehousing content in a large internet-based digital warehouse and distribution platform that serves six of the top ten book publishers and over 175 newspapers and other periodicals. What makes LibreDigital so profitable for publishers is that its on-demand solution allows publishers to post its content digitally and publish it on any marketplace, which the publisher sees fit, and the content can also be forwarded in any format, to any consumer, or on any device. LibreDigital is a global company with its headquarters in Austin, Texas and also has offices in New York City and the United Kingdom.
Along with this funding round, LibreDigital also announced that it has appointed David L. Pesikoff, cofounder of Triangle Peak Partners, to the companyâ€™s board of directors. Mr. Pesikoff will be joining existing board members, who include Martin Neath, board chairman and general partner at Adams Capital Management; Brian Murray, CEO of HarperCollins Publishers; Scott Heekin-Canedy, president of the New York Times; and Jeremy Halbreich, CEO of the Sun Times Media Group.
According to Mr. Pesikoff, as consumers continue to adopt both mobile devices and digital print media, the demand for digital books and newspapers is growing at such a fast pace that it is even outpacing the supply, hence the platform that LibreDigital provides can be a solution to accelerate in this exciting new market. Mr. Pesikoff further added that the platform that LibreDigital provides allows for media companies to deliver and meet the growing demand on e-periodicals and books.
According to Scott Heekin-Canedy, with the expanding universe of digital publishing, the technology that LibreDigital provides publishers the ability to publish their content successfully to all kinds of different markets and mobile devices on a global scale.
Triangle Peak Partners is a private investment firm that invests private equity and venture capital in companies that are poised for success in their markets. Triangle Peak Partners invests in both illiquid and liquid markets. The firmâ€™s philosophy states that when markets are illiquid, the firm will work with the management of the companies they invest in to help create value and the investors at Triangle Peak Partners mainly invest in companies who are in the tech, alternative energy, and energy industries.
When the markets are liquid, the team at Triangle Peak Partners invests in low cost baskets to enhance diversity in investment.
For more information about LibreDigital, click here.
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