Ann Arbor-based ContentOro LLC, which provides websites with licensed content from books, has received an investment of $50,000 from the Zell Lurie Commercialization Fund, which is part of the Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the University of Michigan's Ross School of Business.
This investment is part of a funding round of between $500,000 and $750,000 that is being raised by CEO Bob Chunn, who founded the company in 2014. Last June, ContentOro raised a funding round of $450,000 from the Ann Arbor-based Michigan Angel Fund, Farmington Hills-based Lis Ventures LLC and Detroit-based InvestMichigan. Prior to that, Chunn got his first investment of $100,000 from Chuck Newman, who founded ReCellular Inc., an Ann Arbor-based company that recycles cell phones
Chun stated, “Over the past year, we’ve added some of the biggest publishers in the business: Houghton Mifflin Harcourt, MacMillan, Weldon Owen and over 20 niche publishers representing everything from the latest technologies to medicine, pets, cooking and just about anything else you could think of. As we had hoped, book publishers are very willing to work with companies and people they trust, to find new markets and opportunities for the best content in the world.”
He further added, “We’ve built a great website with world-class content from books and we’re seeing a significant increase in visitors. We won the innovation award from the Small Business Development Corporation, Startup of the Year from UM’s Venture Capital Investment Competition, and, of course, Best Business Model from NEF. We were a semi-finalist at last year’s Accelerate Michigan and plan to do better than that this year! “
According to Chun, Since February of this year, ContentOro has been working with many world class customers, including Sur La Table, Pet Supplies Plus, General RV, Ulta Beauty, Citrix, Menards, Cathay Pacific Airline and many more.
Bob Chun said “New Enterprise Forum and the people I’ve met through it have been instrumental in our early success with customers and raising capital. I am thankful for the team who worked directly with me and for the organization who has remained supportive of ContentOro all along.”
Congratulations to Bob Chun and ContentOro!!