Funding will be used to drive growth, acquire premium content and allow people to create and sell Booktrack titles through the marketplace
New Zealand-based Booktrack, a company that adds movie-style soundtracks and ambient audio to e-books, announced that it has closed a Series B investment round of $5 million.
The company will leverage the recent closing of the Series B investment round to drive growth through marketing innovation, acquisition of premium content and allowing any publisher, self-publisher or musician to create and sell Booktrack titles through its marketplace.
Backed by investors including Peter Thiel and Weta Digital, using Booktrack Studio, anyone can bring digital text to life by adding a synchronized soundtrack from a database of more than 20,000 audio files. One can then publish the content — whether a book, short story, screenplay, poetry or travel blog — for anyone to read on the Booktrack Bookshelf. The audio plays in sync with the storyline paced at each individual’s reading speed.
“Booktrack is creating a new marketplace for authors, publishers, and musicians to create soundtracks for their e-books and reach a new audience of more than 2.5 million readers while earning new revenue streams,” said CEO Paul Cameron.
“This Series B raise will allow us to aggressively grow our reader base and premium content offering. Booktrack will continue to help schools, parents and people looking to re-engage with reading in a modern, immersive, and fun way while also increasing comprehension and retention,” he added.
This announcement comes on the heels of other major developments at Booktrack. Publishers and self-publishers can now market and sell their Booktrack titles to the community of nearly 2.5 million readers.
The company is now selling Premium Booktracks created and choreographed by Booktrack’s sound engineering team through its online e-book store.
This post was originally published on e27.
Featured Image Credit: Booktrack