Digital publishing company Issuu raises $10 million in new funding
New round of funding comes from KDDI, a Japanese telecom, and Sunstone Capital of Denmark – increases total funding in company to $21.5 million
PALO ALTO, Calif. – July 15, 2014 — Issuu, the world’s fastest growing digital publishing and content discovery platform, has raised $10 million in series B funding from the KDDI open innovation fund, one of Japan’s largest telecom operators, and Sunstone Capital of Denmark (a current Issuu investor).
“Issuu supports the global publishing industry as it evolves, by building innovative products that are revolutionizing the concept of sharing and social discovery, while also providing publishers critical insight into reader behavior from our massive data set,” said Joe Hyrkin, CEO of Issuu. “ This investment will give us additional resources to continue to develop new and innovative solutions for publishers and brands.”
Last week the company released Clip, a new product that gives its readers the ability to discover, Clip and share any part of any of Issuu’s 17+ million publications to any social network. Building on this momentum, Issuu will use the additional financing to continue to expand its global base of publishers, develop innovative product features that continue to transform every aspect of publishing, and invest in great people.
”Sunstone continues to be impressed by the innovation and execution of the Issuu team. The launch of Clip reaffirms Issuu’s position at the forefront of the evolution of digital publishing. The publishing industry is going through massive transformation and Issuu is well positioned to be an important partner in this process.” – Christian Jepsen, Sunstone Capital.
The company has secured $21.5 million in funding since its founding in 2006.