Breaking today in Journal du Net Gutenberg Technology, which is the parent company of digital book platform Lelivrescolaire.fr, announced that they just closed on a new €2 million round with a group of angel investors. This €2 million comes on the heels of a €2.2 million round that they raised last year. This additional funding will enable them to ramp up their expansion by increasing their R&D investments and expanding their sales and marketing team.
Seeing the potential of mobile for the ebook market, Gutenberg Technology was launched in 2009 by François-Xavier Hussherr and focuses on digitalizing books for mobile devices. In addition to helping publishers digitalize their content, they also have a SaaS called My Ebook Factory which enables publishers to create, edit and store their content online and in one-click publish it to various devices (tablets, ereaders, smartphones). Hussherr is bullish on the future of ebooks, particularly in education, as he believes that by 2025, paper text books will disappear altogether. Gutenberg Technology seeks to lead this trend, taking on the well-funded current US leader Inkling who raised €17 million in 2011. With €4.2 million raised to date, a goal to close another €3 million round next year, 90% of its revenues outside of France, and big name clients such as Pearson and Houghton Mifflin Harcourt, they’re well-positioned consolidate their leadership in this fast growing space.
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