Canadian eBook Startup Enthrill Raises $1.3 Million in New Funding Round
Enthrill Distribution, a provider of innovative digital content distribution technologies for the publishing industry, announced on Friday that they had raised $1.3 million in new financing from a group of investors that include AVCA Ltd.
The Calgary-based startup plans to use this investment to fuel ongoing product development and the next stage in its commercial growth, which will include sales and marketing efforts for global distribution. "Working closely with the team at AVAC while they conducted their in-depth due diligence has validated our business strategy," says Kevin Franco, President and Co-Founder of Enthrill. "AVAC has taken a genuine interest in our organization, spending the time to thoroughly understand our business and ensure our capital requirements were in place for the next stage of our growth."
Enthrill is perhaps best know for their ebook gift card platform, which enables brick-and-mortar stores to carry and sell ebooks either online or via a unique ebook gift card. This platform is not widely available in the US market, but it is drawing an increasing amount of support from Canadian retailers. The company already has distribution deals in place with independent Canadian retailers as well as with Canada Safeway, Co-op, and Sobeys stores. They also expect to have their cards in Walmart Canada stores by the end of 2014.
The platform is also gaining support from publishers. Publishers whose titles are available through Enthrill include Scholastic, Kensington, Rosetta Books, Palgrave Macmillan, HarperCollins, Harlequin, Open Road Media, and many others.
Enthrill also offers authors and publishers the option of volume sales and other alternative sales channels, including time limited discounts, free downloads and bundled offers. According to Enthrill, an ebook purchased via Enthrill can be read on most ereaders, including the Kindle.