Print-to-digital delivery service Pressmart Media Ltd. in Hyderabad, India, has received $6 million in funding from two San Francisco Bay Area venture capital funds, Draper Fisher Jurvetson and NEA IndoUS Ventures.
The investment will aid in expanding Pressmart's global sales, marketing, and customer-support presence across 35 countries, where it serves over 350 print media customers with a package of electronic publishing, delivery, hosting, subscription management, online payment, ad serving, and user intelligence.
Pressmart also announced that Sateesh Andra, venture partner of Draper Fisher Jurvetson, and Vinod Dham, founding managing director of NEA-IndoUS Ventures, have joined it board of directors.
Pressmart has converted 400 years of newspapers, magazines, books, research papers, hospital records, manuscripts and journals, apart from enterprise records, into what it calls “future-proof digital content.” Pressmart offers publication on multiple distribution channels, including the Web and blogs, mobile phone, RSS, podcast, search engines, article directories and social networking sites, with integrated revenue and cost-saving capabilities.
Using Pressmart technology, publishers can archive, digitize and electronically publish content, as well as track reading trends and analyze subscriber behavior.
Source: E & P