IntelliMat, Inc. Closes $5 Million Series A Investment

IntelliMat, Inc., a company specializing in providing dynamic digital floor displays, announces recently that it has closed a $5 Million 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.”

For more information access: IntelliMat