|By Marketwired .||
|August 7, 2014 02:00 PM EDT||
CALGARY, AB--(Marketwired - August 07, 2014) - AVAC Ltd., a private Canadian company that invests in promising early stage ventures, today announced their investment in Enthrill Distribution Inc., an innovative provider of ebook distribution products and services for the global publishing industry. Including AVAC's investment, Enthrill secured over $1.3 million in this round of financing.
Enthrill's cloud-based software platform opens up a previously inaccessible B2B market for publishers who had no means of fulfilling bulk orders for electronic books. The same patent-pending technology, which enables ebooks to be securely distributed to any electronic reading device (which include computers, tablets, smartphones and e-readers), also provides traditional hard copy retailers with the ability to sell ebooks, either online or via a unique ebook gift card, to their customers.
"We are excited to announce our investment in, and support for Enthrill," says Dr. Michael Raymont, CEO and President, AVAC Ltd. "Enthrill's talented and experienced team has clearly demonstrated their understanding of the international publishing industry, its needs and its market dynamics. The publishing and retail worlds have been eagerly waiting for a way to distribute ebooks to any reader on any device -- which is exactly what Enthrill delivers."
Enthrill plans to use this investment to fuel ongoing product development and the next stage in its commercial growth, which will include sales and marketing efforts for global distribution.
"Working closely with the team at AVAC while they conducted their in-depth due diligence has validated our business strategy," says Kevin Franco, President and Co-Founder of Enthrill. "AVAC has taken a genuine interest in our organization, spending the time to thoroughly understand our business and ensure our capital requirements were in place for the next stage of our growth."
Enthrill's ebooks are currently available at participating Canada Safeway, Co-op, and Sobeys stores and will be available in Walmart Canada stores in the fall, 2014. Publishers whose titles are available through Enthrill include HarperCollins, Harlequin, Open Road Media, Scholastic, Kensington, Palgrave Macmillan and many others.
Enthrill Distribution Inc., is a provider of innovative digital content distribution technologies for the publishing industry. Enthrill has positioned itself to provide complete end-to-end, cross-platform ebook delivery products to enable publishers to grow and expand their ebook business. For more information, visit www.enthrill.com
About AVAC Ltd
AVAC Ltd is an investment company with over 16 years of experience in helping bridge the critical investment gap that exists between innovative ideas and commercial business success. AVAC invests in promising early-stage commercial ventures in value-added agri-business, information and communications technologies, life sciences, and other industrial technology sectors. AVAC also manages an active early-stage venture capital fund-of-funds investment pool and the Accelerate Fund, an angel co-investment fund. Find out more: www.avacltd.com www.acceleratefund.ca
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