In an oversubscribed Series B funding round led by Mohr Davidow Ventures, SIPX Inc raised USD 4 million for its growth plans. Other investors like XSeed Capital, Stanford University, Ulu Ventures and angel investors, also joined the round. SIPX is a digital copyright management service for clients in the higher education marketplace. The only company of its kind, it provides a wide array of content options and manages copyrights for its clients. It also delivers digital documents for its customers. The new funds will enable the company to increase its customer base and integrate more content  into its platform. As part of the transaction, General Partner of Mohr Davidow Jon Feiber also joined the SIPX Board of Directors.

SIPX Chief Executive Officer Bob Weinschenk said clients in the academe are eager for the service his company provides. "Over the past year we've seen how eager the higher-education marketplace is for the service and benefits that SIPX brings. So we are particularly excited to complete this funding with excellent partners, who understand our vision and can support our growth plans," he said. SIPX counts the State University of New York, Empire State College, and California State University Northridge among its customers.