Israeli start-up Imagine completes $15 million funding round

The firm is reportedly on the verge of signing a major deal.

Israeli start-up Imagine Communications recently completed its second funding round, raising $15 million from existing investors and a new investor. Sources inform Globes that the new investor is US venture capital fund Court Square Ventures (CSV).

Imagine, previously known as QoD, has raised a total of $25 million, including the current round. The firm was established by current CTO Ron Gutman and VP Engineering Doron Segev. Both men worked previously at BigBand Networks.

The first fund to invest in the firm was Carmel Ventures II, and Columbia Capital joined as an investor in 2006.

Sources inform Globes that the firm is also on the verge of signing a major long term strategic partnership deal with a foreign communications giant. Reportedly the contract will be worth several tens of million of dollars.

Imagine Communications has developed a powerful and scalable personalized TV platform for broadband operators, which, as the company describes it, gives subscribers "the content they want, when they want it".

Published by Globes [online], Israel business news - - on October 28, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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