Video-compression vendor Imagine Communications announced the completion of a $10 million round of expansion financing, bringing its total raised to more than $34 million.
All previous and existing investors participated, including Court Square Ventures, Columbia Capital and Carmel Ventures. Imagine Communications said the new financing will be used to expand support to the company's current MSO customers as well as furthering its development of MPEG-4 encoding and transcoding solutions.
Imagine Communications markets a system for delivering more MPEG-2 HD channels in the same amount of bandwidth, using a compression algorithm the company claims does not degrade quality.
"Imagine's vision for personalized TV on every screen is now becoming a reality," Imagine president and CEO Jamie Howard said in a statement. "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 3D."
San Diego-based Imagine Communications was founded in 2005 by two former BigBand Networks executives, Ron Gutman and Doron Segev.