£6.5m round propels Imagen into global expansion mode
A Cambridge video content specialist whose clients include Formula One, The Premier League, World Tennis Association, BP and Reuters, is expanding in the US and globally after securing a £6.5 million funding round.
Cambridge Innovation Capital has participated in the Series B funding for Imagen, a leading Software as a Service (SaaS) video management platform business.
Imagen’s intuitive, highly customisable video management platform enables global organisations to manage their video content with enhanced functionality, control and insight.
The funding represents a major milestone for the company following significant growth in 2018 that saw Imagen post 88 per cent year-on-year revenue growth driven by clients including Formula One, The Premier League, World Tennis Association, BP, Reuters, BBC and IMG, part of Endeavor.
Through this positive growth trajectory, Imagen has established a significant foothold in the video management sector, becoming an essential piece of technology for sports, media and enterprise businesses looking to manage their expanding video and content libraries.
This latest investment will enable Imagen to expand its global operations and make significant inroads into the US and European markets.
Imagen will be establishing a customer led sales and marketing presence in the US, as well as accelerating product development and the growth of its technology division.
Charlie Horrell, CEO of Imagen, said: “This funding is clear recognition of the value our clients 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.
“We are looking forward to accelerating our global operations and are thrilled to be working with our investors as we continue our journey towards building the world’s smartest video management platform.”
Victor Christou, CEO of Cambridge Innovation Capital, 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.
“We are delighted to continue to support the company as it expands from its UK base into international markets.”