Following closely on the heels of its pivot from the e-book vendor Vook into Pronoun, a soup-to-nuts self-publishing platform, the company announced that it has received a $3.5 million investment form Avalon Ventures. This new round of venture capital financing will be used to further develop Pronoun’s technology platform and data analytics.
In May, Vook relaunched itself as Pronoun, a publishing platform that incorporated the technology and content of Vook’s recent acquisitions of Byliner and Booklr. Pronoun has declared itself “a new model for authors,” offering them a range of digital publishing, distribution and data analysis services while giving authors that use it a 100% royalty.
Avalon Ventures has also invested in such companies as Zynga, Simulmedia, Tapad, and Bookbub. As a result of the investment, Avalon Ventures partners Rich Levandov and Brady Bohrmann will join Pronoun’s board of directors. Levandov said, “we invested in Pronoun because, like us, this team believes the future of publishing will be driven by technology, data, and a model that puts authors first.”
“This funding allows us to continue building a team of people who sincerely value authors and their books, and to deepen our commitment to providing authors with free and meaningful tools, resources, and capabilities,” said Pronoun CEO Josh Brody.
