Pressmart Secures $6 Million Investment
New York NY – September 5 2008: Pressmart Media Limited (www.pressmart.net) a leading print-to-digital delivery service announced that it has secured a $6 Million funding from two of the most respected VC firms from the Bay area Draper Fisher Jurvetson and NEA IndoUS Ventures as it moves into its next phase of growth.
This investment will accelerate Pressmart s global footprint and the resources to build on its market momentum expanding global sales marketing and customer-support across 35 countries where it currently serves over 350 print media customers. Pressmart s strong SaaS based ePublishing and Digitization services have helped the company gain rapid recognition worldwide coupled with a unique 360-degree service offering ePublishing delivery hosting subscription management online payment ad serving and user intelligence all through one package.
Making the announcement Sanjiv Gupta CEO Pressmart said "The adoption rate of our print-to-digital service has been remarkable over the past 24 months. Apart from leading international publishing houses we are vendors to some of the most respected Global associations like the WAN SNA NNA. This investment from Draper Fisher Jurvetson and NEA IndoUS Ventures along with their combined energy and experience will help Pressmart s amplify its global leadership position in authenticated published structured audit-trail able and aggregated content distributed over new media channels rapidly."
According to industry estimates the worldwide print readership is in excess of 1.4 billion readers daily and the worldwide publications (including daily weekly monthly quarterly annual large newspapers community publications journals etc.) is in excess of 1.62 million. In India alone there are over 150 000 publications registered with RNI.
Pressmart also announced the induction of two highly accomplished professionals Sateesh Andra Venture Partner of Draper Fisher Jurvetson and Vinod Dham Founding Managing Director of NEA-IndoUS Ventures (popularly referred to as the father of the Pentium ) to strengthen its Board of Directors.
Commented Sateesh Andra Draper Fisher Jurvetson “Publications around the Globe are currently under tremendous pressure to increase their presence on the web and leverage new media/social media for content distribution. Pressmart s Platform offers publishers a strong ROI and additional means of revenue."
"I am very excited about the opportunity to invest in Pressmart and help make it a leader in the e-publication space. As the world goes digital there is unlimited opportunity to deliver content in variety of electronic devices. Pressmart has developed an excellent technology platform to accomplish that in an easy quick and flexible manner " commented Vinod Dham Founding Managing Director of NEA-IndoUS Ventures.
There is an immense amount of information stored in the billions of physical pages in the world whether it is through newspapers magazines journals or other documents. Pressmart has built the technology and capability to digitally archive this physical asset (information) into searchable retrievable and repurposable content in XML format. Pressmart has already converted 400 years of newspapers magazines books research papers hospital records manuscripts and journals apart from enterprise records into future-proof digital content. Its digitization customers include leading publications in Australia Germany India and Thailand besides a host of Government and quasi Government organizations. Pressmart has also built strong capability to offer digitization from Microfilms and Microfiche.
Pressmart is the industry s most advanced solution for publishing electronic edition of Journals newspapers and magazine or any other publication on multiple distribution channels like Web Mobile RSS Podcast Blogs Search Engines Article Directories and Social Networking Sites with integrated revenue and cost-saving capabilities.
The service offered by Pressmart is highly customizable and collaborates with Web 2.0 services proliferating print content with online community interaction. Its technology transforms the static online replica of a journal/newspaper/magazine into an intuitive interactive online medium by way of features like Podcasts Blogs opinion polls and online shopping.
Using Pressmart s technology Publishers can quickly archive digitize and electronically publish content effortlessly. They can even track reading trends and analyze subscriber behavior – aiding not only editorial strategy but also their ad sales efforts.
About Pressmart:
Pressmart (www.pressmart.net) is a New Media Delivery Partner of leading newspapers and magazines published in over 15 languages across 350 countries. Pressmart takes over where the pre-press ends and delivers the electronic edition on multiple distribution channels including web (as a print-replica ePaper edition) Mobile RSS Podcasts Blogs Social Networking Sites Article Directories Search Engines etc.
Pressmart also offers digitization of legacy archives from multiple physical formats into re-usable and monetizable digital formats. It has digitized over 400 years worth of newspapers magazines and journals. Pressmart is headquartered in Hyderabad and has a customer support presence in US and UK.
About Draper Fisher Jurvetson:
Draper Fisher Jurvetson ("DFJ") backs extraordinary entrepreneurs everywhere who set out to change the world. DFJ achieves its mission through its DFJ Global Network of Partner Funds. Together DFJ and the Network manage over $6B and have made more than 600 investments on four continents. www.dfj.com
About NEA-IndoUS Ventures:
NEA-IndoUS Ventures is a venture capital firm based out of the US and India. Co-founded by Vinod K. Dham and Vani Kola the firm invests in businesses that leverage accelerated long-term growth prospects and capital efficiencies. For additional information visit www.neaiuv.com
PAGE Cooperative Contact: Myles Fuchs 212-351-5090
