Digital video vendor Imagine Communications announced yesterday the completion of a $10 million round of expansion financing, bringing total venture capital investment in the company to more than $34 million.
Imagine said all of the previous and existing investors participated in the latest round of financing, including Court Square Ventures, Columbia Capital and Carmel Ventures. Imagine also said the new financing will be used to expand support of the company’s MSO customers, while accelerating the commercial deployment of its solutions for MPEG-4 encoding and transcoding.
“Imagine’s vision for PersonalizedTV on every screen is now becoming a reality,” said Imagine’s President and CEO Jamie Howard. “This new capital enables us to accelerate the development and deployment of our real-time H.264 encoding, transcoding and streaming solutions to support the growing demand for Internet and mobile video content delivered in multiple formats, including 3-D.”
Howard said the core innovations of the company’s Ice and Ice-Q were directly applicable to TV Everywhere-type deployments.
Imagine Communications was founded five years ago by former BigBand Networks employees.