Graphicly, a publishing startup has in it’s a recent regulatory filing revealed that the company is soon to close its bridge round of funding with a $1 million.
The company was first launched in order to serve as a marketplace for various digital comics. However, the last year saw a new set of tools being launched by the company. Publishers will now have an access to a wide range of platforms like Android, Kindle and IOS in order to get their content distributed.
In fact, Graphicly CEO Micah Baldwin reveals that with a growth of 1500 percent each year and annual revenue of millions of dollars things have soon been taking off for the company.
However this does not mean that the company no longer focuses on comics. This can be seen from a huge deal in comics being recently launched by the company. However, the company no longer exclusively focuses on comics. The deal was mainly with regard to the distribution of sixty peanuts titles.
CEO Micah Baldwin in fact agrees that with this funding, Graphicly will soon reach a stage of profitability and this will be before the middle of next year. It could also raise a Series B which will be much larger at that point. However, the CEO also has some other plans for this year. He agrees that to build a native app which is based on a book is not that easy since it can be expensive.
An alternative to this can be to add more app like capabilities and other interactivities to eBooks.
“Publishers seem to want it and desire it,” he said. “They’re stuck in this world of doing apps, which are just really expensive.”, as reported by techcrunch.com.
Apart from increasing the number of customers in the company, this strategy will also lead the company to expand itself in other areas. With the funding done mostly by existing investors, Graphicaly has now managed to raise a $6 million.