Digital Media Juggernaut OverDrive Nabs Funding From Insight Venture Partners

OverDrive , which provides infrastructure and services for the distribution of digital content such as ebooks, audiobooks, music and videos, has raised capital from PE firm Insight Venture Partners , the New York-based backer of the likes of Twitter, Chegg, Privalia, Newegg and HauteLook. The size of the financing round remains undisclosed, but OverDrive says it concerns a "major investment" and the provision of additional resources and capital by the investment firm is subject to regulatory approval.