Mishawaka, Ind. - Better World Books, an online bookseller that collects donated books and sells them online to fund literacy initiatives worldwide, has raised $4.5 million in its first round of funding, led by Good Capital, whose Social Enterprise Expansion Fund provides funds to businesses that deploy market-based solutions focused on poverty alleviation, healthcare and education.

Good Capital provided $2.5 million of the total amount, while eighteen private investors contributed the remaining $2 million.

Indiana-based Better World Books generated more than $16 million in revenue in 2007, and has more than two million new and used titles in stock.

It acquires its used inventory through partnerships with more than 1,600 college campuses and 900 libraries nationwide.

To date, the company has raised $4.5 million for its non-profit literacy, library and college partners worldwide.

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