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IntelliMat, Inc. Closes $5 Million Series A Investment |
IntelliMat, Inc. Closes $5 Million Series A Investment
ROANOKE,Va.--(BUSINESS WIRE)--IntelliMat, Inc., a Roanoke, Va.-based company specializing in providing dynamic digital floor displays, announces today that it has closed a $5,000,000 Series A round of investment. The investment is provided by NewVa Capital Partners, LP, and an affiliate of Third Security, LLC, both of Radford, Va., and SPI Investments, LLC, of Roanoke, Va. Carilion Biomedical Institute also participated in the financing. SPI Investments, LLC has been the primary funding source for IntelliMat since the company's inception in 2004. The Series A financing and newly established relationship with Third Security, LLC, which manages NewVa Capital Partners, LP, will provide IntelliMat the capital to launch a significant marketing initiative, as well as working capital for operations. "IntelliMat is unique because it owns the only patented digital media technology for use on the floor," said IntelliMat President and CEO Jim Currie. "This investment is a powerful validation of the tremendous value and potential of the IntelliMat's technology. We are excited about partnering with Third Security." "We believe that IntelliMat will achieve broad adoption in the expanding digital signage industry, particularly with regard to dynamic point-of-sale advertising. We are excited about this investment and the team," said Julian Kirk, Managing Director of Third Security. "IntelliMat represents a rare opportunity - a strong patent portfolio in a high-growth industry, and we are eager to work with management to exploit the market opportunity. IntelliMat is another demonstration of a strong, early-stage business opportunity in southwestern Virginia, and is the third company in which NewVa has made an investment." IntelliMat® is a patented, portable dynamic floor display that delivers digital advertising and informational messages - at the point of decision. It provides consumers with valuable information in an engaging manner to influence buying decisions and to communicate important information. IntelliMat® provides a new source of recurring revenue through both the sale of in-store advertising and increased sales. In addition, because each IntelliMat® display is capable of becoming part of a network, it represents a new media network opportunity to reach consumers out of home. IntelliMat® is manufactured, marketed and distributed by IntelliMat, Inc. Currently, IntelliMat has 17 issued patents in NewVa Capital Partners, LP is a private equity/venture capital enterprise that makes early stage investments in companies in the NewVa region of southwestern Virginia. More information is available at the fund's Web site, www.newvafund.com. Carilion Biomedical Institute nurtures early stage companies that are located or have a significant presence in the Roanoke and New River Valley of Southwest Virginia. CBI's current portfolio consists of over ten companies including Roanoke Clinical Research, Ocucure Therapeutics and ION Healthcare. More at www.biomedicalinstitute.com. Third Security, LLC is an independent private investment and advisory firm formed in 1999 to manage investments in public and private companies. The firm leverages its people, expertise and capital to guide investments and companies to higher levels of performance. More information is available at the firm's Web site, www.thirdsecurity.com. Contact: IntelliMat, Inc. |