Online magazine publisher Zinio has raised a an investment round of $20 million, according to documents filed with the SEC.
Zinio lets magazine publishers who don’t want to build their own mobile apps distribute their content on devices such as the iPad. The last known funding for Zinio was $7 million the company raised in September 2005, according to PaidContent.
Zinio describes itself as the “world’s largest news stand.” The company has been around for nearly a decade, was partly dismantled in 2007, and pieces were sold to Gilvest.
Zinio is the chosen tablet partner for magazines such as TV Guide, Men’s Health, Black Enterprise and Penthouse.
While the print magazine industry continues to falter, Zinio raising a significant round of financing to digitize content suggests that its investors are bullish about the future of online content, and tablets in particular.