Graphic.ly raises $1M after regional proof of concept funding

Funding

Graphic.ly, a digital content platform for publishing comics, has announced the close of a first round funding of more than $1 million. The money comes from a £100,000 contribution from the Co-Investment Fund of the UK public venture fund Northstar, along with US-based venture capitalist and strategic media firms and individual investors.

Graphic.ly (formerly known as TakkeComics) has developed an application for creators of comics and other forms of publishing. The technology also changes the way people read and engage with the material, allowing them to interact with the content and each other.

Along with publishing on desktop computers, Graphic.ly makes it possible to deliver compatible format on portable devices, including the iPhone, with almost no cost or effort involved in converting from one format to another.

The investment round was led by DFJ Mercury, a Houston-based venture capital firm specialising in early stage and seed investments, and included strategic investor Starz Media, LLC, and private investors, with NorthStar as the sole UK investor.

Marc DeBevoise, SVP, Digital Media, Business Development & Strategy for Starz Media, said, “We are excited about the investment in Graphic.ly and its approach to bringing this kind of change to the comics and publishing world. [...] The opportunity at-hand is not just about making content available, but making it available in the right context and with the expanded features that allow users to interact with the content and each other.”

Graphic.ly will use the investment to develop its UK subsidiary, based in Teesside, UK. The funds will also be used to expand marketing efforts and begin work on content partnerships.

Michelle Cooper, Investment Manager at NorthStar, said, “We were the first investors in Graphic.ly through our Proof-of-Concept fund in August 2008 and we are delighted to see how far the company has gone since.”