PDV Inter-Media Venture, the corporate venturing arm of Germany-based publisher Media Group Pressedruck, has joined existing investors HTGF, LBBW Venture and Vilitas in a €2.5m ($3.3m) series A funding round for PressMatrix, a Germany-based technical service provider that allows publishers and companies to distribute magazines and newspapers as applications for tablets and mobile devices.
In November 2011, PressMatrix raised a seven-digit sum from Investment Bank Berlin along with business angel Henri Kühnert and public/private partnership seed investor High-Tech Gründerfonds.
The new capital will allow PressMatrix to reinforce its existing market leadership in Germany as well as support further international expansion.
Renate Dempfle, managing director of PDV Inter-Media Venture GmbH, said: “The PressMatrix team has built an attractive offer for the publishing world.”
Romy Schnelle, senior investment manager of HTGF, said: “This new commitment of the PDV along with the ongoing commitment of existing investors further demonstrates the operational excellence of PressMatrix as well as a great importance for the publishing world.”
PressMatrix was established in 2011 by Daniel Hoepfner, Jens Guetzkow und Christian Marsch.