Bethesda, Md. - WEbook, a site that lets users collaborate on the writing of books, has raised $5 million in new venture capital funding, from new investor Vertex Venture Capital, previous backer Greylock Partners Israel and eight angel investors, VentureBeat reported.

Launched in April, Bethesda, Md.-based WEbook says that more than 15,000 book projects have been started on the site, which claims 500,000 unique monthly visitors.

The site lets collaborators and other interested readers vote on which projects eventually will be published.

The company plans to publish three WEbook projects in the next four months.

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http://www.webook.com