Danish online publishing company Zmags has raised a DKK 20m (USD 4.2m) investment from USA's OpenView Venture Partners, a Boston based company specialising in investing in European IT companies and rolling them out in the US, writes business paper Erhvervsbladet. Zmags' primary solution is used for online publication of catalogues and magazines. Following the investment, Zmags will move its headquarters to Boston, while development and support remains in Denmark.
Scott Maxwell, partner in OpenView Venture Partners, comments on the investment: "Zmags has already proved its business model and has achieved a leading position in online publishing in Europe, and we look forward to helping the company to a leading position on the US market. We see a great potential for Zmags' platform since many conventional media companies to an increasing extent focus on online solutions that can implement sound, image and interactive communication."
In January, Copenhagen-based venture company NorthCap Partners invested DKK 12m (USD 2.5m) in Zmags and set a target of attracting a US investor to join Zmags. Jesper Scharling Sørensen of NordCap Partners says:
"When we invested in Zmags our strategy was to get an American venture capital investor into the company one year later. It is very positive that after just four months we have an American investor on board, so that we have people in the USA who can help build the organisation needed to make Zmags a market leader in online publication solutions."
Zmags is a leading provider of digital publishing software that enables customers to transform their
PDF files into dynamic web presentations in seconds. The company has 1,200 customers in over 20 countries, including Microsoft, Ikea, General Motors and 3M. With Zmags’ Publicator, customers can embed rich media into their publications, track and analyze reader behaviour, and significantly reduce publishing costs. Zmags’ uses 15 data centres around the world to ensure optimal user experience.