By: Carl Sullivan
NewsStand Inc., a provider of electronic publishing technology to newspapers, was expected to announce today that it has closed an $8 million round of venturing financing from Adams Capital Management Inc. Both firms are based in Austin, Texas.
NewsStand previously closed $8 million in funding in March from SSM Ventures, Noro-Moseley Partners, and the New York Times Co. Privately held NewsStand provides digital replicas of 37 print newspapers, magazines, and newsletters, including such newspapers as The New York Times, the Star Tribune of Minneapolis, and The Globe & Mail in Toronto.
The funds will be use to expand NewsStand’s services, increase marketing and sales, and implement new product development, the company said.
Martin Neath, general partner of Adams Capital Management, will join NewsStand’s board of directors.