And….another digital provider heard from, as iVerse — which powers the IDW store and has partnered with Diamond for their own digital distribution — has announced a new $4 million funding from the PS&J Group. The money will be used to expand its offerings and for promotion.
iVerse Media, LLC, a leading digital content distributor, is proud to announce today a $4 Million commitment in Private Equity Funding to further expand its digital content business. The additional funding comes from PS&J Group, that is knowledgeable and experienced in the digital market.
iVerse intends to use the new funds to expand its digital content offerings, and increase awareness of its “Comics+” and “Comics+Kids” brands, through an aggressive marketing strategy, enhanced product offerings, and new platform distribution.
“2011 has been a great year for iVerse.” said PS&J Group chairman Pierre LeRoy. “Through digital comic sales, software licensing, and strategic partnerships, iVerse has been financially solvent for some time now. These additional funds will allow the company to really expand on what its started in some unique and compelling ways.”
The iVerse powered “Comics+” application is already the first major digital comics platform to support “PLUS” features such as streaming video content for digital comics on iOS. The company will expand these offerings in a variety of ways over the next several months.
“We love comics at iVerse,” said iVerse CEO, Michael Murphey, “and we’re very eager to not only enhance that experience, but to expand the market as well, and introduce the next generation of readers to their first comics. We have had a tremendous amount of success with that so far, and we have several new initiatives planned that we believe will take that to the next level.”
iVerse currently partners with 60+ publishers including Archie Comics, Peanuts Worldwide LLC, Ape Entertainment, Marvel Comics, IDW Publishing, Image Comics, BOOM! Studios, Dynamite Entertainment, and many more. iVerse is also uniquely partnered with Diamond Comics Distribution to bring an innovative and robust digital comics service to physical comic book stores, providing them with tools to sell digital comics in-store and online. iVerse powers many digital comic storefronts on iOS including Archie Comics, Sonic Comics, IDW Comics, Star Trek Comics, Transformers Comics, G.I. Joe Comics, and Pocket God Comics, among others.