CIC makes cut in Imagen series B

UK-based video content management software supplier Imagen has raised £6.5m ($8.4m) in a series B round backed by Cambridge Innovation Capital, a patient capital fund affiliated with University of Cambridge.
The round was led by venture capital fund Downing Ventures and also featured fund management firm Guinness Asset Management.
Founded in 1995 as Cambridge Imaging Systems, Imagen has created a software-as-a-service (SaaS) platform called Imagen Content Portal that lets video publishers such as media and sports companies archive and manage their content.
The platform offers accelerated file transfer speeds to support high-definition streaming and is accessed through a streamlined interface designed for operational efficiency.
The series B capital will go towards building Imagen’s sales and marketing presence in the US as the company looks to fuel its global expansion plans, which will primarily focus on the US and Europe.
Proceeds will also help Imagen drive product development and grow its technology division. CIC had supplied Imagen with $2.5m in funding in 2014 and $3.1m two years later.
Charlie Horrell, chief executive of Imagen, said: “This funding is clear recognition of the value our partners and prospects see in the platform. We have a world-class roster of clients across the sports, media and enterprise sectors and have a healthy pipeline going into 2019.”
Victor Christou, CEO of CIC, added: “Imagen was one of the first companies into which CIC invested. It has made great progress since our initial investment, transforming itself into a globally leading SaaS video management platform with a greatly enhanced client list.”