iUniverse Secures Additional Funding

Posted on October 17, 2001

iUniverse, a provider of epublishing services, announced that it has secured an additional $18 million in venture capital funding from Warburg Pincus, a private equity investor. iUniverse also announced that is has produced and sold over 750,000 books. iUniverse is headquarted in Campbell, California.

``This additional round of financing from Warburg Pincus validates our momentum in exploiting a broad range of publishing market opportunities,'' said iUniverse CEO Richard Tam. ``Our course remains the same. We're streamlining the publishing process for companies and publishers by automating the way documents and book titles are produced and setting a new standard in publishing technology by giving individual authors an equal opportunity to share their stories with any size audience.''

iUniverse provides print-on-demand and ebook self publishing services for authors. The company also has two custom publishing programs, one with Microsoft Press and the other with Hungry Minds, Inc. The custom book programs allow Microsoft and Hungry Minds customers to browse, compile and purchase books compiled from individual chapters of selected Microsoft, Frommer's, Cliff's Notes and Dummies Guide titles. iUniverse also recently announced a partnership with Weekly Reader, an educational publisher. Using iUniverse technology, Weekly Reader will allow students and teachers in elementary and secondary schools to create and publish paperback books.