Image Metrics raises €4.3m in Series A round Image Metrics plc, a provider of state-of-the-art Image Understanding technology, today announced the successful completion of a €4.3m Series A funding round. The placement follows an oversubscribed interim round of €814,000, which the company raised in February. The new investors are Saffron Hill Ventures, with MC Capital Europe (a subsidiary of Mitsubishi Corporation) and a technology fund managed by Close Brothers Investment. Image Metrics was advised by Gambit Corporate Finance and Berry Smith acted as the company solicitors. Commenting on the success of the placement, CEO David Pilgrim, said, “In a time when many technology companies are coming up against unprecedented barriers to securing new funds, this is a considerable achievement for Image Metrics and a true endorsement of this disruptive technology.” He continued, “This round will enable us to further capitalise on the extensive commercial opportunities we are seeing for our technology, particularly from the US, and drive our growth in the security, medical imaging and media verticals.” The funding represents yet another success for a company a little over a year old. In that time, it has developed significant commercial interest from global Medical Imaging players, in applications for the early detection of Osteoporosis & Cancer and secured its first significant deal in the security sector with Baxall Limited, the fifth largest CCTV camera manufacturer in the world. In addition, the company has recruited an experienced management team and attracted high calibre Non-Executive support in the form of Steven Edwards, who founded and led the sale of Geneva Technology to Convergys Corporation in April 2001 for $692m. About Image Metrics Image Metrics PLC is the developer of Optasia., the world’s first platform technology for the automated interpretation of images and video. Optasia. enables robust solutions to automated image interpretation to be developed in weeks, with no expertise in computer vision. Image Metrics’ technology is already powering client solutions in three continents worldwide. Image Metrics addresses three vertical markets with dedicated business units in medical, security and media. The company focuses on developing solutions for leading global OEMs and Systems Integrators in these vertical markets. Image Metrics PLC was formed in November 2000 by an International Prize winning team of PhD scientists, and is backed by equity investment from Axiomlab PLC and Acorn Capital. The company is revenue generating, and today completes its first institutional round of venture capital funding, with Saffron Hill Ventures, MC Capital Europe (a subsidiary of Mitsubishi Corporation) and a technology fund managed by Close Brothers Investment Limited as new equity backers. For more information on how Image Metrics can automate manual processes that depend on images and video, please visit www.image.metrics.com. Image Metrics was formed in November 2000 and had business building support in addition to equity funding from Axiomlab plc, the regionally focused venture fund and received HR support from Acorn Capital."

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