NEXT BIG FUTURE, a UK-based startup that’s been working on its book ebook platform for a year, announced today that it has raised $40m in funding, including a $25m investment from Accel Partners, to take the service to market.
The investment comes at a time when ebooks are becoming more popular, and the platform is a natural fit for Amazon, who is in the process of developing an online store and a library of ebooks, which could help expand its reach and influence over publishers.
“The ebook market has grown exponentially in the last decade, with ebooks now accounting for over 70% of all digital book sales worldwide, with the next big growth wave expected to be driven by ebooks in the second half of the decade,” Next Big Futures CEO Matthew Halsey said in a statement.
“Amazon has a tremendous amount of potential in this market, and is uniquely positioned to take advantage of the growth and opportunity it offers.”
Halsey has worked with Amazon to bring the platform to life, starting with its launch in the US in 2017, when it launched its Kindle Owners’ Lending Library.
Since then, Amazon has been working with Halseys team to launch a number of other ebooks services.
These include Kindle Lending, a service that offers discounts on ebooks and other books, as well as Kindle Subscription and Kindle Prime, which allow users to stream books from Amazon to their computers.
Amazon also has a number a other books deals, including Kindle Bookstore, which offers discounts for Kindle books.
The company has also been working closely with publishers to bring its ebook service on board.
In addition to Amazon, the company has partnered with major publishers such as Penguin Random House and Simon & Schuster to develop its ebooks service.
“While we’re focused on expanding our service and expanding the reach of Amazon Kindle books, we also want to build a robust, curated collection of Kindle books and ebook authors to meet the ever-increasing demand for ebooks,” Halseies co-founder Matt Jones said in the statement.
“In addition, Amazon will also support our service by providing a free, curated catalogue of ebook titles, along with other Kindle services like Kindle Books, Kindle Subscriptions and Kindle Editions.”
While it’s unclear exactly when Amazon plans to launch its own ebooks app, it’s expected that the company will launch the service in the coming months, with more details to come in the future.
Halseys ebooks platform also has an app for iOS, Android, and Kindle Fire, and it also has support for other iOS devices, including Samsung, Apple, and Amazon Kindle.
This article has been updated with additional details.