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Imagine Communications
Closes $15 Million Venture Capital Round to Accelerate Deployments
and Growth in Digital Video Markets
Other topics:
IPTV Signal Processing,
IPTV Headend Monitoring Solutions
Imagine Communications
October 30, 2007
Funding Led by Court Square Ventures, with all Previous Investors
Participating
Court Square Ventures' Managing General Partner James B. Murray
Joins Imagine's BOD
SAN DIEGO, California - Imagine Communications, developer of the
industry's most powerful and scalable digital video platform, today
announced the completion of a $15 million Series B round of
expansion financing, bringing total venture capital investment in
Imagine Communications to more than $24 million. The round was led
by Court Square Ventures, a top venture capital firm, with
participation by all existing investors including Columbia Capital
and Carmel Ventures. The new financing will be used to accelerate
Imagine's growth and commercial deployments in digital video markets
with its breakthrough VBR/Statmux (Variable Bit Rate and Statistical
Multiplexing) technology, which offers 50 percent more bandwidth and
improved video quality of digital video signals. |
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"The timing of this funding is
critical as service providers launch and scale HDTV, VOD, SDV
(Switched Digital Video), IPTV and other advanced PersonalizedTV™
services and applications. These services will become key for
operators to compete in an environment that includes Cable, DBS,
Telco and Wireless service providers," said Imagine's President and
CEO, Jamie Howard. "As the demand grows for these new services,
Imagine's solutions will allow operators to rapidly deploy and scale
while delivering optimal video quality with bandwidth efficiency."
The company also announced that James B. Murray, Jr., the managing
general partner at Court Square Ventures, has been appointed to its
board of directors.
Howard continues, "I am thrilled to welcome Jim Murray, a highly
respected leader in the venture capital community. His business
savvy and extensive experience will be a strong addition to our
world class board of directors."
Court Square Ventures' James Murray commented, "We are excited about
Imagine and its prospects for dramatically enhancing video delivery
for cable operators as well as other global service providers."
"Carmel Ventures is increasing its investment in Imagine because
Imagine's technology has repeatedly proven to be superior to other
solutions that make similar claims regarding bandwidth efficiency
and video quality, and they've demonstrated to operators that their
solution is the most cost-effective approach to bandwidth
optimization," said Ori Bendori, general partner of Carmel Ventures.
"Since our last investment, Imagine has proven its ability to
innovate and execute on a game-changing vision and business and
product strategy," stated Phil Herget, partner at Columbia Capital.
"Imagine is well positioned for tremendous growth and success."
Imagine is scheduled to commercially launch its first product in the
fourth quarter of 2007. The company's innovative solutions will
enable system operators to dramatically improve bandwidth efficiency
without sacrificing video quality, allowing them to rapidly deploy
advanced digital video services such as HDTV, VOD and SDV. Imagine's
software architecture runs on carrier-grade, off-the-shelf hardware
and plugs seamlessly into existing infrastructure.
About Imagine Communications
Imagine Communications has launched the industry's most powerful and
scalable digital video platform enabling system operators to
cost-effectively increase bandwidth efficiency and video quality.
The Imagine ICE Video Platform™ incorporates breakthrough
next-generation video processing and multiplexing technology,
enabling up to 50 percent more streams versus today's approaches.
Imagine's revolutionary ICE-Q™ video quality measurement algorithms
enable better video quality at any given bit rate. Imagine is based
in San Diego with R&D and engineering in Israel. Its strong
management team includes industry leaders with decades of experience
delivering innovations in video communications. Founded in 2005,
Imagine Communications is privately held and funded by Carmel
Ventures, Columbia Capital and Court Square Ventures.
www.imaginecommunications.com.
About Court Square Ventures
Court Square Ventures is a venture capital firm that invests in
early-stage communications, information technology, and media
companies, with a particular interest in points of convergence
between these industries. The firm's deep understanding of its three
target sectors stems from the partners' 60 years of operating and
investing experience in these areas. Court Square uses this base of
experience to support young companies executing the critical
transitions from pre-revenue to first sales and accelerating growth.
Court Square seeks to establish close partnership with passionate,
committed entrepreneurs and like-minded co-investors. The principals
bring a broad national network of target sector contacts to bear in
helping portfolio companies source customers, find strategic
partners, and recruit key personnel. For more information, visit
www.courtsquareventures.com.
About Carmel Ventures
Founded in 2000 by pioneers and leaders of the Israeli high tech
industry, Carmel Ventures is one of Israel's leading venture capital
funds focused on information technology with $372 million under
management. Led by former entrepreneurs and executives of the
software, communications and investment industries, Carmel provides
active, hands-on support to its Israeli, European and U.S. portfolio
of companies. Carmel, headquartered in Herzliya, Israel enjoys a
worldwide network of industry, strategic and investment resources.
Carmel provides significant capital and support through the growth
cycle of its portfolio companies and is recognized as a true company
building fund in Israel. For more information, visit
www.carmelventures.com.
About Columbia Capital
Columbia Capital is a venture capital firm specializing in the
communications and information technology industries. With its
latest $560 million fund, it now has $2 billion under management.
Based in Alexandria, VA and Waltham, MA, Columbia Capital has an
experienced investment team with diverse industry backgrounds in
entrepreneurial ventures, management, finance, regulation and
engineering. Its team has managed investments in approximately 100
companies in the communications and information technology sectors,
ranging from small, early-stage investments to multibillion-dollar
public companies. For more information, visit www.colcap.com. |
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