SIPX Raises $4.0 Million in Series B Financing
Mohr Davidow Ventures (MDV) Leads the Round; Jon Feiber, MDV General Partner, Joins SIPX Board of Directors
Palo Alto, CA (August 1, 2013) – SIPX, Inc., the leading provider of an end-to-end digital copyright management service for higher education, today announced that the Company has raised $4.0 million in Series B financing, following a year of achieving technology and business milestones. The new funding will support the Company’s growth plans, including broadening its ability to bring on new customers and integrate an even larger amount of content to its service platform.
Since SIPX was spun out of Stanford University in September 2012, the Company has gained leading academic customers, including State University of New York (SUNY) Empire State College and California State University Northridge, while continuing to expand its deployment at Stanford. In addition, world-class providers of content such as Elsevier, The Perseus Book Group and Georgetown University Press have joined the SIPX platform. For a broader list of customers and partners, visit www.sipx.com.
“Over the past year we’ve seen how eager the higher-education marketplace is for the service and benefits that SIPX brings,” said Bob Weinschenk, SIPX Chief Executive Officer. “So we are particularly excited to complete this funding with excellent partners, who understand our vision and can support our growth plans.”
In addition to Mohr Davidow as lead investor, other participants in this over-subscribed financing include XSeed Capital, Stanford University, Ulu Ventures and strategic angel investors. Jon Feiber, General Partner of Mohr Davidow and new SIPX Board of Directors member, said “SIPX is a company that can radically improve the distribution of content in the academic space, legally, easily, and cost-effectively, in a way that brings value to all participants in the ecosystem. We found that value proposition very compelling, and are thrilled to be able to help the Company grow and thrive.”
About SIPX, Inc.
Developed at Stanford University, SIPX (pronounced “sip-ex”) is a new web-based technology created to offer a wide range of content options, manage copyrights and deliver digital documents for the higher-education marketplace. SIPX is the first and only company to provide an end-to-end service with these capabilities. The SIPX mission is to create an open and transparent system that benefits all parties, including libraries, university management, educators, students, creators, publishers, owners, aggregators and rights agents. SIPX launched its pilot implementation at Stanford in April 2011 and has grown in use ever since. For more information, visit www.sipx.com or follow SIPX on Twitter (@SIPXCopyright).
Karen Alter, Chief Operating Officer