Odilo, a Madrid, Spain-based provider of a digital content lending platform, raised €1.3M in funding.
The round was led by Inveready Technology Investment Group and complemented by the public funding entity ENISA. With this deal, Inveready joinsed Active Venture Partners, which led the first financing round in 2014.
The company intends to use the funds to continue to expand internationally and strengthen its line of Content as a Service (CaaS) business model.
Led by Rodrigo Rodriguez, CEO, Odilo has developed a platform for digital content management that allows entities with large groups of users to offer their user base access to digital content on demand through a pay-per-consumption model.
The company is a leader in the Spanish speaking market -3rd language in number of speakers – being the technological platform provider of the national e-book library of Spain (eBiblio) and Chile, as well as the Cervantes Institute.
Following these deployments, the company has undertaken an internationalization process winning public contracts in Europe, Latin America and North America. In the United States, in particular, they were awarded the contract to deliver digital content to the whole State of Michigan.