Middlesbrough firm Graphic.ly secures over $1m from US investors

Jan 21 2010 by Peter McCusker, The Journal

A NORTH East digital publishing firm has secured over $1m from US investors to roll out its ground-breaking technology after signing deals with some of the world’s main comic publishing houses.

Teesside-based Graphic.ly (formerly Take Comics) is close to commercialising its software which allows comic book publishers to create reading experience on PCs, games consoles, iPhones, iPods and other electronic hardware.

Its latest fundraising round has seen it secure US$1.2m (£610,000), with £100,000 coming from Newcastle-based NorthStar Equity Investors, and the rest from American investors.

The cash will help employ a further five staff at the firm’s base in Middlesbrough’s Digital City where it currently employs eight staff.

Graphic.ly has signed deals with US publishing houses Marvel Comics, Devils Due and Top Cow with more deals set to be signed.

Microsoft CEO Steve Balmer also recently demonstrated its capabilities during a talk at a major technology convention in Las Vegas.

The company was established by Teesside University graduate Kevin Mann and he has now brought in US-based entrepreneur Micah Baldwin as his CEO to help with commercialisation.

Michelle Cooper, investment manager at NorthStar, said: “We were the first investors in Graphic.ly in August 2008 and we are delighted to see how far the company has gone since. NorthStar is now the sole UK investor and we are proud to invest more funds in the company to help it develop its North East subsidiary and create jobs in the region.

“It is great to see a company with a focus in the USA valuing the input of its technical team based in the North East. This shows the great expertise of people in our region.”

Mr Baldwin said: “Graphic.ly strives to provide a place for everyone who enjoys story-telling in comic books and wants to discuss the art and writing with their friends.

“Allowing readers to engage and access their libraries and exclusive content wherever and whenever they desire is what drives Graphic.ly.”

The investment round was led by Texas venture capital firm DFJ Mercury and film and media investors Starz Media, LLC.

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.

“Micah and his team recognise that the opportunity at 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.”