News

BitLit Closes Funding Round

Published on Monday, May 26, 2014

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BitLit, the team behind the app that allows you to get an ebook of a print book you own, has closed its seed round financing including an investment from Three Angels Capital, the venture fund recently started by Michael Serbinis, the founder and former CEO of Kobo.

“We are thrilled to have raised our seed financing from investors with backgrounds in both technology and publishing,” says Peter Hudson, BitLit’s co-founder and CEO. The seed financing also includes investments from BDC Venture Capital, Mike Volker (WUTIF fund) and Jim Fletcher, a Vancouver super angel.

Founders of BitLit are UBC graduates. Peter Hudson (Founder & CEO) is a graduate from UBC’s Engineering Physics program. Marius Muja (Co-Founder & CTO) has a PhD in computer vision from UBC. As part of his thesis work, Marius researched methods for fast matching of high dimensional features in large data sets. Marius’s previous work in computer vision is a key enabler for BitLit’s technology for physical book recognition.

Link to full press release.

About BitLit

BitLit is an app that helps readers get the ebook for a print book they own. BitLit works with publishers to offer readers print book and eBook bundling. After downloading the free app, users prove they own the print book by writing their name onto the book’s copyright page and taking a picture using their smartphone. BitLit has partnered with 85 publishers including O’Reilly, Other Press, ECW Press, Osprey Group, Greystone Books, and Berrett-Koehler. BitLit has over 10,000 titles available for print and ebook bundling. Approximately 30% of BitLit’s bundled ebooks are free if you own the print copy or with the purchase of a print edition.

BitLit is available for download through the App Store and Google Play Store.

www.bitlit.com, Twitter: @BitLitMedia