iCopyright.com Closes Series B Funding Round
Thursday, January 24, 2002
Digital Rights Management Pioneer Starts 2002 With Additional $1 Million in Operating Funds RENTON, Wash.--Jan. 23, 2002--Data Depth Corporation, d.b.a. iCopyright.com, has announced that it has raised an additional $1 million as part of a Series B financing. The funding was led by Rustic Canyon Ventures of Santa Monica, California, with participation from Bradley Resources Company and the company's existing shareholders. Data Depth Corporation, which purchased some of the assets of iCopyright, Inc. in April 2001, has raised $2.6 million to date. iCopyright invented the Instant Clearance Service, the only digital rights management solution that licenses and fulfills content instantly. It includes iCopyright Publisher Central, a suite of Web-based tools and services that enables publishers to implement the Instant Clearance Service themselves and manage their online licensing and reprints business. "We are pleased to announce completion of our Series B round in one of the most difficult financial markets in recent memory,'' said Mike O'Donnell, President & CEO of iCopyright. "This funding will enable us to accelerate our leadership position in content licensing for newspapers and magazines. We expect to double the number of publications using iCopyright in 2002.'' Leading online publishers such as CBS MarketWatch.com, Newsweek's online archives and bizjournals.com use the iCopyright Instant Clearance Service to make it easy for their readers to license their content for commercial reuse. Every week, new publications add the iCopyright icon to their Web pages, allowing Internet users to legally obtain the rights to reprint, reuse or distribute the content, while ensuring that their brand and intellectual property rights are protected.