News
ImageSpan closes $11 million 2nd round financing
ImageSpan Inc., a software company that offers a content licensing platform for digital media based in Sausalito, CA, has announced that it has closed a second round financing of $11 million from a group led by Bertelsmann Digital Media Investments (BDMI). Existing investors Greycroft Partners, headed by Alan Patricof, and Village Ventures also participated. Additional funds came from the New York City Investment Fund, City Lights Capital Management and Ackerley Partners LLC. “We see ImageSpan solving a very serious pain point affecting the entire media landscape today—that of licensing and monetizing digital image and video content at a time when both of these content categories are growing increasingly important on the web,” said Richard Sarnoff, President of BDMI.
The Series B financing comes as ImageSpan is launching new partnerships and rolling out its platform with major customers including Omnicom’s Zimmerman Partners, Sports Illustrated, TAKKLE, Dealer.com and Visible World. “We have experienced tremendous growth recently and we now have the additional financial resources we need to meet rapidly growing customer demand,” said Iain Scholnick, chief executive officer, ImageSpan. “Our automated digital content licensing platform and services address a major barrier to profitability for all sides: today’s manual transaction processes for digital content licensing.”
“Since our investment in ImageSpan last year, we’ve been impressed by their ability to deliver exactly what media companies, advertising agencies, marketing firms and those providing commercial- and user-generated local content have been demanding—a game-changing licensing automation platform for the management and monetization of digital media,” said Alan Patricof, founder and managing director, Greycroft Partners LLC.
Web: www.imagespan.com - www.bdmifund.com - www.greycroftpartners.com
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