dcsimg
RealTime IT News

iPrint.com Raises $20 Million in Venture Capital

Privately held online print shop iPrint.com said that it has raised $20 million in third-round funding led by Softbank Venture Capital.

iPrint.com has raised $31 million s since launching in 1997. AT&T Ventures also participated in the this round, as well as existing shareholders including Intel Corp., Canaan Partners, ITV (Information Technology Ventures), the Robertson Stephens partner fund, and DawnTreader LP, the venture fund founded by Robert Lessin, CEO of Wit Capital and former vice chairman of Salomon Smith Barney.

"SOFTBANK's incredible depth of experience and broad industry presence will prove invaluable as we innovate one of the largest traditional businesses on the planet," said Royal P. Farros, CEO and chairman of iPrint.com.

Heidi Roizen, managing director for SOFTBANK Venture Capital's current technology fund, will join iPrint.com's board of directors.

"iPrint.com is clearly the leading online print shop in this huge $23 billion printing space," said Roizen.

"With a large base of customers, strong technology, and terrific strategic partners like 3M, Kinko's, OfficeMax, and Sir Speedy, we're excited to help iPrint.com achieve their aggressive domestic and global goals."

iPrint.com offers desktop publishing on the Internet and has integrated a network of commercial printers on the backend for fulfillment. It offers a range of business stationery products, ad specialty promotional items, and gifts at discounted prices.