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In addition to the new round of funding, Graphicly has a new CEO in David Fox. Former CEO and co-founder Micah Baldwin is moving back to a product role for reasons that he explains in a post today.
This is the second round of bridge funding that Graphicly has raised this year. It raised $1 million in January in order to make its way to a Series B and profitability by the end of 2013. This round means that the company has now raised around $7.3 million in total. I asked Baldwin why the second funding round and he said that they expected the growth in subscribed publishers to be “more linear.” Now they’re raising more money to sustain that growth and pull the string on other efforts like an embeddable YouTube-like widget that displays book trailers, provides a conduit for publishers to reach out to readers regardless of platform and allow them to share that info. About 10 percent of its publishers are using it and it’s seeing more than 1 million page views a month all with little attention given it in a year, and the company appears to have big plans for it.
