Scribd Raises $13M More for Web Docs
Scribd has raised $13 million in a Series C funding led by MLC Investments of Australia and SVB Capital, and including previous investors Redpoint Ventures, Charles River Ventures and Kinsey Hills Group.
The Web-hosted document company, founded as a sort of YouTube for PDFs in 2006, now has raised a total of $26 million.
Based in San Francisco, Scribd says it has more than 60 million monthly visitors, and attributes recent traffic growth to its social sharing initiatives on sites like Facebook. In addition to pure hosting, it offers users nifty OCR technology that translates document images into searchable files for free.
Scribd is planning a major mobile expansion for 2011, and said it would use the funding toward that effort as well as for other product and revenue projects.