Cambridge ebook bargain-finding service BookBub announced on Thursday that it has raised its first-ever funding: A $3.8 million Series A round from NextView Ventures, Founder Collective, Avalon Ventures and Bloomberg Beta.
With its nearly 3 million members purchasing more than one million ebooks per month, BookBub is gaining serious traction. Founded in 2012, startup aims to help readers find limited-time-only steals on top ebooks. BookBub has all of the acclaimed ‘Big Five’ publishers on board along with thousands of independent authors, totaling over 10,000 ebook deals.
“BookBub’s traction proves it’s filling a huge need for readers, authors, and publishers,” said David Beisel, partner at NextView Ventures, in a statement. “We meet with countless startups, but it’s uncommon to find one that has become such a meaningful part of an industry so early in its existence.”
The Boston-area startup is taking a bite out of the more than $10 billion publishing industry. The company, which has been bootstrapped since its start, is already profitable. BookBub will use the funding to expand its team, push into international markets and launch additional products for members and partners.
Image via BookBub
