BookBub, a US-based startup that sends users daily e-mail alerts about e-book deals raised $7m in a series B round including Bloomberg Beta, media company Bloomberg’s corporate venturing arm, on Tuesday.
Avalon Ventures led the round, which comprised both debt and equity, while NextView Ventures and Founder Collective also participated. Bloomberg Beta, NextView and Founder Collective previously funded BookBub’ $3.8m series A round in May 2014.
BookBub plans to invest the cash in expanding its team from around 40 employees to between 60 and 70 over the next year, company president Josh Schanker told the Boston Globe. The company, which recently entered the Indian market, also intends to move into new countries.