Pressmart Gets $6M in Funding
E-paper provider looking to ‘accelerate global footprint.’
Pressmart, a new media delivery partner for newspapers and magazines, has secured $6 million in funding from venture capital firms Draper Fisher Jurvetson and NEA IndoUS Ventures.
The investment, the company said in a statement, will help Pressmart "accelerate its global footprint" and to build its global sales, marketing and customer-support services. Pressmart CEO Sanjiv Gupta said the company has seen a "remarkable" adoption rate of its print-to-digital service over the last two years.
As part of the deal, Draper Fisher Jurvetson partner Sateesh Andra and NEA IndoUS Ventures managing director Vinod Dham will join Pressmart’s board of directors.
In March, Pressmart partnered with distributor Curtis Circulation Co. to launch iMags, a digital sales, distribution and marketing service for magazine publishers.
Other e-paper vendors include Zinio, Texterity and Nxtbook, which was recently named to Inc. magazine’s 500 fastest-growing private companies in the U.S.