ioCurrents Extends Series A Financing Round With Investment From Imagen Capital Partners
Incremental financing to drive sales and product initiatives including the development of offerings targeting complementary vertical markets supporting the marine industry.
SEATTLE, Sept. 20, 2018 /PRNewswire-PRWeb/ -- ioCurrents, a leading maritime data analytics company, announced today that their recent Series A financing round has been extended to allow for a sizable investment from Imagen Capital Partners, LP. The financing will provide funding for ioCurrent's evolving R&D roadmap, expansion of its sales and marketing efforts, and for general corporate purposes.
Additionally, with Imagen leading this equity extension, ioCurrents will develop incremental product offerings in support of complementary vertical markets servicing the maritime industry.
"Having Imagen's financial support, industry knowledge, and domain expertise across new, complementary markets will provide us with a major boost as we execute our overall vision," said Cosmo King, Chief Executive Officer and co-founder, ioCurrents.
Since its launch in 2015, ioCurrents has witnessed measurable customer traction, ongoing technology advancements of its machine learning-based data analytics platform and currently has patents pending specific to its platform architecture.
"Unique insights and essential data analytics afford ioCurrents an unparalleled opportunity to change the way today's maritime industry operates," said Jesse Brink, Vice President of Business Development, Imagen. "Complete, real-time data, accessible to all fleet personnel is what the industry has been waiting for. We look forward to supporting ioCurrents in accelerating the further adoption of their robust analytics platform."
About ioCurrents
ioCurrents is a leading maritime data analytics company. The company has developed the foremost machine learning-based analytics platform -- MarineInsight™ which aggregates diverse data sets into actionable insights for the maritime industry. Using a combination of edge and cloud-based computing, MarineInsight™ provides operators and fleet managers with descriptive, predictive, and efficiency analytics of engines, generators, and other vessel assets. By providing a total integrated view across an entire vessel -- or an entire fleet -- MarineInsight™ is able to improve efficiency, increase safety, and identify and prevent failures, resulting in significantly reduced operating costs and risk profiles for its customers. (http://www.iocurrents.com)
About Imagen Capital
Imagen Capital Partners (http://www.imagencap.com) is a Seattle-based, early-stage venture firm focused on investments in software/SaaS, data, and technology-enabled concerns. Led by experienced technology operators, the firm seeks to create collaborative relationships with entrepreneurs beyond the investment process to innovate, challenge, and transform the dynamics of new and existing markets.
SOURCE ioCurrents
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