The digital/electronic editions company NewsStand, in which NYTimes invested previously, has secured nearly $4 million of a $5.6 million first round recap funding, according to a regulatory filing, picked up by PE Week Wire. Backers include Adams Capital Management, Noro-Moseley Funds and SSM Venture Funds.

The Austin-based company is in a crowded field, even though it is one of the pioneers in the digital editions industry. I am not exactly sure any of the vendors in the space, including ones like Zinio, are laughing all the way to the bank.

Related:

—NewsStand Gets $7.2 Million in Funding From NYT Co, Others

—NewsStand Receives $8 Million Financing