Thursday, August 06, 2009

Online textbook firm Akademos raises $2.5M in VC

Akademos Inc., which makes software for selling academic textbooks online and operates the Internet book exchange, has raised $2.5 million in new equity financing.

Norwalk, Conn.-based Akademos was founded in 2002 by former Cornell University professor Brian Jacobs. This was the first securities offering the company has reported, according to U.S. Securities and Exchange Commission records. The financing was detailed in regulatory filings with the SEC that were posted on Tuesday.

Jacobs, currently the president and CEO at Akademos, was the only related party named in the SEC document. According to the filing, about $190,000 of the funds raised through Akademos’ equity offering will go toward “repayment of outstanding indebtedness” to Jacobs.

The company has an offshore development office in Odessa, Ukraine, according to its website. Akademos officials were not immediately available for comment.

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