New Zealand’s Booktrack receives $5m Series B round
Booktrack, a New Zealand-based company that provides movie-style soundtracks and ambient audio for eBooks, has raised $5 million in Series B funding led by Coent Venture Partners and Sparkbox Ventures.
It follows a $3 million Series A round led by Sparkbox last year. Other backers include Peter Thiel and Weta Digital.
The new capital will go towards marketing, the acquisition of premium content and building out the Booktrack marketplace so that it is accessible to any publisher, self-publisher or musician.
The company already has a community of 2.5 million readers using its marketplace, while authors and publishers can create their own Booktrack titles by matching stories to a library of 20,000 free-to-use audio tracks. More than 15,000 titles have been published in the last 18 months.
"This Series B raise of $5 million will allow us to aggressively grow our reader base and premium content offering. Booktrack will continue to help schools, parents and people looking to reengage with reading in a modern, immersive and fun way while also increasing comprehension and retention," Paul Cameron, Booktrack's CEO, said in a statement.
Sparkbox provides early-stage funding to start-ups in New Zealand. Coent is a seed and venture specialist based in Singapore and active across Asia.
More on Media
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.