Digital Media Juggernaut OverDrive Nabs Funding From Insight Venture Partners

OverDrive, which provides infrastructure and services for the distribution of digital content such as ebooks, audiobooks, music and videos, has raised capital from PE firm Insight Venture Partners, the New York-based backer of the likes of Twitter, Chegg, Privalia, Newegg and HauteLook. The size of the financing round remains undisclosed, but OverDrive says it concerns a "major investment" and the provision of additional resources and capital by the investment firm is subject to regulatory approval.

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