Imagen Grows as Recipient of £6.5 Million in Funding
Imagen has secured £6.5 million in a Series B round. The company received funding from an investor pool led by Downing Ventures. The round also included capital from Guinness Asset Management Ltd and participation from existing investor, Cambridge Innovation Capital.
The investment represents a major milestone for the company, following significant growth in 2018 that saw Imagen post an 88% year on year revenue increase driven by clients including Formula One, The Premier League, World Tennis Association, BP, Reuters, BBC, and IMG, part of Endeavor.
The investment follows a growth trajectory that has seen Imagen establish a significant foothold in the video management sector and become an essential piece of technology for sports, media, and enterprise businesses looking to manage their expanding video and content libraries.
“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,” comments Charlie Horrell, CEO, Imagen. “We look forward to accelerating our global operations and are thrilled to be working with new investors to continue shaping the future of video management.”
“We are delighted to be backing Imagen and the exceptional management team that has developed a market leading video management platform,” adds Richard Lewis, investment director, Downing Ventures. “We are now focused on supporting Imagen’s exciting UK and international expansion plans.”
“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,” adds Victor Christou, CEO, Cambridge Innovation Capital. “We are delighted to continue to support the company as it expands from its UK base into international markets.”
“Imagen is an acknowledged leader in video management with an enviable customer base. We are delighted to have completed our growth capital investment into the company and look forward to working with the Imagen team, CIC, and Downing Ventures to help the company realize its international growth ambitions,” says Malcolm King, fund manager, Guinness Asset Management. “The deal demonstrates our ongoing ability to source and deliver high quality investments for our EIS investors.”
“I’m delighted to have helped Charlie and his team raise this funding from these three highly respected tech investors,” adds Eddie Harding, Partner, ICON Corporate Finance who advised the company on the round. “The research shows that video continues to grow exponentially, and Imagen’s enterprise-grade video management platform is ideally placed to meet the explosive demand of this sector.”
The funding 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.