As iPad Sells Out in Stores, LibreDigital Secures $8.1 Million in Funding to Accelerate Delivery of e-Books

LibreDigital (News - Alert), Inc. has closed an $8.1 million secured funding from new investor S3 Ventures, a venture capital firm, with participation from existing investors Adams Capital Management and Triangle Peak Partners.

The company's other key investors include HarperCollins Publishers, The New York Times Company and Noro-Moseley Partners.

The new capital infusion will be used by LibreDigital to expand e-book services for publishers looking to capitalize on the demand for e-books, which is being driven by the release of new devices like the Apple (News - Alert) iPad.

The iPad is highly popular tablet computer designed and marketed by Apple. Released in April 2010, Apple had sold 1 million iPads by May 3.  It runs unique iPad applications as well as those for the iPhone (News - Alert) and iPod touch, including e-book readers.

The success of Apple's new iPad has led other tech companies to plunge into the market for tablet computers, with startups and major PC companies scurrying to introduce their own devices before the end of the year.

LibreDigital also delivers solutions to other digital devices and marketplaces, including Barnes & Noble NOOK, Amazon Kindle, Sony Reader, and Google (News - Alert) Editions.

'The popularity of the iPad has accelerated the demand for e-books at a much faster pace than many in the industry had previously predicted,' said Brian R. Smith, managing director of S3 Ventures. 'We're making this investment to help LibreDigital speed the delivery of products that help the world's top publishers and e-reader manufacturers bring the highest quality reading experience to digital consumers.'

LibreDigital enables publishers, distributors and device manufacturers to securely market and deliver content across an expanding number of digital channels, including e-readers, tablets, smart phones, social networks and online stores. The company offers solutions designed to deliver digital books, newspapers and magazines.

'This year, sales of e-books are expected to double to more than $700 million in the U.S. alone,' said Russell P. Reeder, president and CEO of LibreDigital, Inc. 'This funding will be used to accelerate the delivery of e-books, and expand our technology offerings to include new solutions that help publishers better promote and sell books to digital consumers.'

S3 Ventures is an early-stage, Texas-based venture capital firm investing in companies which focus large market opportunities in the technology and medical device sectors. S3 invests primarily around the Southwest with a focus on Texas.