Three Angels Capital and BDC Venture Capital back BitLit

BitLit has received an undisclosed amount of seed funding. The investors included Three Angels Capital and BDC Venture Capital. Based in Vancouver, British Columbia, BitLit is an app that helps readers get an ebook edition of a print book.

PRESS RELEASE

May 22, 2014 (VANCOUVER, BC) – 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.
Serbinis notes that “Three Angels Capital was founded in 2014 to invest in world class teams looking to disrupt markets and change the world. As books go digital it’s clear that people continue to enjoy reading in print. With BitLit you can enjoy the convenience of an ebook, with the comfort of reading the print edition at home – a huge benefit for book lovers.”
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. “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.
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
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. Peter Hudson and Marius Muja founded BitLit in 2013. BitLit is based in beautiful Vancouver, BC, Canada. www.bitlit.com

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