Toronto – Kobo, the developer of an e-book distribution
platform and e-reader device, announced on Tuesday that it has raised an
undisclosed amount in a third round of venture capital financing.
A major
institutional investor led the round; previous backer Indigo Books & Music
also participated.
Toronto-based Kobo now counts 2.7 million users worldwide,
and offers a library of 2.3 million e-book titles.
The company also offers its
Kobo eReader device in the U.S, U.K., Canada and elsewhere.
"With a
foundation firmly in place, in 2011 we will accelerate our focus on creating
the best eReading experience for customers, and expanding internationally with
new partners, content and languages," said Kobo CEO Michael Serbinis.
The
company raised $16 million in its last round of funding.
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