DropCap Inc. Receives $1.2MM in Financing from Leading Wisconsin VC Funds
DropCap today announced a Series Seed 2 investment totaling $1.2MM. The round was led by Winnow Fund, based in Madison, WI. The Wisconsin-based Gateway Capital Partners, Idea Fund of La Crosse, Wisconsin Investment Partners, and Lancaster Investments participated in the round as well.
DropCap is a global rights marketplace that’s revolutionizing the way agents and editors discover exceptional books. DropCap’s mission is to provide independent authors and publishers access to rights licensing opportunities and help indie books go global through foreign rights, audio, and film rights licensing.
Richelle Martin, Managing Director of Winnow Fund said of the investment, “DropCap has a dedicated team that is responsive and adaptive to customer and market feedback. When Winnow Fund met the company it had recently pivoted to focus on the marketplace offering and was going through a leadership transition, which is tough for any company. Our belief the team could successfully navigate those circumstances was a significant factor in our decision to invest and we've continued to be impressed.”
In conjunction with the recent round of funding, DropCap announced the selection of their new CEO, Lindsay Jones, one of the company’s co-founders and formerly their Chief Operating Officer. Prior to founding DropCap, Ms. Jones spent ten years in the self-publishing industry as the COO of Hillcrest Media Group. She says of DropCap, “Indie authors and publishers are putting out amazing books that are too often overlooked in the licensing world simply due to lack of access to the decision-makers. I want DropCap to be the first and last place publishers, agents, and editors go to find great content to license, and we’re on a mission to make sure that content is coming from independent authors and publishers.”
DropCap launched their rights marketplace in Q4 2023 and will use the funding to propel growth and drive adoption of the marketplace throughout the book rights industry.
