Librify, a US-based company that provides the first ebook platform for book clubs, has raised an undisclosed amount in funding from ICG Ventures. ICG Ventures is an Ingram Content Group company that provides books, music and media content to nearly 40,000 retailers, libraries, schools and distribution partners.
Joanna Stone, Librify’s co-founder and chief executive, said: “As the book world goes digital, start-ups and established players in the publishing industry can create more value by working together. For decades, Ingram has been the leader in book distribution and has been at the forefront of rethinking the role of distributor in the digital age. We look forward to working with Ingram and benefiting from their expertise. We believe the Ingram relationship will provide great value to us in addition to their meaningful financial contribution.”
The investment will allow Librify to enhance its offering as it prepares for its broad market launch later this spring. John R Ingram will be joining Librify’s Advisory Board.
David Roland, chief venture capital officer for Ingram Content Group, said: “We are pleased to invest in Librify, a promising new start up. Our investment is part of Ingram’s ongoing commitment to support new channels that reach consumers with content. We look forward to supporting Librify in their efforts.”