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Pressmart raises $6 million from DFJ, NEA IndoUS Ventures

Pressmart Media , a print-to-digital delivery service, has secured $6 million VC fund from Draper Fisher Jurvetson and NEA IndoUS Ventures. The investment is expected to help Pressmart accelerate its global footprint and expand its global sales, marketing and customer-support presence across 35 countries where it currently serves over 350 print media customers.

Pressmart Media , a print-to-digital delivery service, has secured $6 million VC fund from Draper Fisher Jurvetson and NEA IndoUS Ventures. The investment is expected to help Pressmart accelerate its global footprint and expand its global sales, marketing and customer-support presence across 35 countries where it currently serves over 350 print media customers.

Sanjiv Gupta, CEO, Pressmart, has said, “This investment from Draper Fisher Jurvetson and NEA IndoUS Ventures, along with their combined energy and experience, will help Pressmart 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 and journals) is in excess of 1.62 million. In India alone there are over 150,000 publications registered with RNI.

Sateesh Andra, venture partner, Draper Fisher Jurvetson, has said, “Publications around the globe are currently under tremendous pressure to increase their presence on the web and leverage new media and social media for content distribution. Pressmart’s platform offers publishers a strong ROI (return on investment) and additional means of revenue.”

“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,” Vinod Dham, founding managing director, NEA-IndoUS Ventures, has added.

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