Imemories secures $6.2 million financing
Imemories scans personal analogue photography and video for its consumer clients and transfers these into digital files. They do this at rates that appear low compared to the usual BtoB rates. Through their service they are bringing anaolgue foto’s in the digital world. Below are a few excerpts and quotes from the press release
New financing accelerates iMemories growth as a leading social entertainment platform for people to store and share their personal videos and photos.
SCOTTSDALE, Ariz. (August 11, 2009) – today announced it received $6.2 million in Series B funding led by venture capital firm Capital Southwest. This brings iMemories’ total outside financing to $11 million.
“Personal images have never been more important. Videos and photos are woven into people’s daily lives, identities and their connections to both past and present,” said Mark Rukavina, founder and CEO of iMemories. “Images have always been priceless, but thanks to the unprecedented and sustaining impact of social media, images are more front and center than ever before, and have solidified their role as the new social currency of personal status, connection, and expression.”
“iMemories has all the key factors we look for in a successful investment,” said Bill Ashbaugh of Capital Southwest. “They are meeting a seemingly insatiable demand in the marketplace, led by a proven executive team that has put in place the technology innovation and distribution model that makes them truly without peer in the market.”
