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This brings iMemories' total outside financing to $11 million, the company noted.
According to a release, Bill Ashbaugh, senior vice president with Capital Southwest, will assume a seat on the company's board of directors chaired by former chairman and CEO of Cold Stone Creamery Doug Ducey.
"Personal images have never been more important. Videos and photos are woven into people's daily lives, identities and their connections to both past and present," said Mark Rukavina, founder and CEO of iMemories. "Images have always been priceless, but thanks to the unprecedented and sustaining impact of social media, images are more front and center than ever before, and have solidified their role as the new social currency of personal status, connection, and expression."
Consumers use iMemories as the central location to house their videos and photos. Whether they were originally recorded on film or videotape, or captured digitally via a modern camcorder, camera or mobile phone, iMemories said it offers a safe, convenient and accessible way for memories to live on.
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