RealTime IT News

Safeguard Scientifics Leads Financing for iMedium Inc.

Information-technology holding company Safeguard Scientifics Inc. led a $5.5-million first round of financing for iMedium Inc., an embedded e-commerce company involved in the convergence of entertainment, advertising and commerce.

The investor group also included TL Ventures IV L.P. and Pennsylvania Early Stage Partners L.P., two of Safeguard's associated venture funds.

"Safeguard is an ideal partner for us at this stage in our growth," said Brian Dooner, founder and president of iMedium Inc. "Its network of resources and support will prove invaluable as we rapidly expand our business.

iMedium's proprietary See!Commerce technology helps businesses sell and market their brands through embedded e-commerce and advertising links within photos and still images. This results in an Internet shopping experience within a relevant, visual context.

"iMedium has identified a unique e-commerce strategy that combines content, commerce and community," said Harry Wallaesa, president and COO of Safeguard.

"As iMedium was incubated on the Safeguard campus, it is truly a product of our entrepreneurial environment. This acquisition represents a continuation of Safeguard's strategy of identifying and developing companies at the forefront of their technology in three distinct areas of the Internet: e-commerce, enterprise applications and network infrastructure."

Safeguard assigns a dedicated team to each partner company and actively assists its partner companies in their management, operations and finances.