Tuesday 24 May 2011

Open Road Raises $8M Series B From Azure, Kohlberg, Golden Seeds

Open Road Integrated Media Inc., a digital publisher and multimedia content company, announced today that it has secured $8 million in Series B equity financing. The round was led by Azure Capital and also includes Golden Seeds and current investor Kohlberg Ventures. Open Road will use the financing to expand its growing digital publishing and marketing program. The announcement was made by Jane Friedman, Cofounder and CEO of Open Road.

Mike Kwatinetz, a general partner at Azure Capital, said: “We are very excited about Open Road’s combination of great leadership, business model advantage, momentum with strong authors, agents and distributors and speed in which they launch and market their ebooks. This combination has given the company a step up in what should prove to be a very large market.”


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Open Road Raises $8M Series B From Azure, Kohlberg, Golden Seeds