Imaginatik Secures $2.6m Growth Funding

BOSTON, MA--(Marketwire - August 10, 2009) - Imaginatik plc IMTK, the market leader in enterprise crowdsourcing, has announced that it has raised approximately $2.6m (GBP £1.576m) from new and existing investors. The funds will be used to provide Imaginatik with the resources to pursue its growth plans and aggressively continue its development of enterprise crowdsourcing software and services to address its customers' collaborative innovation and idea management needs.

The funding announcement comes on the heels of the company joining IBM's Software-as-a-Service specialty partner program, and follows the unveiling of ChemBioConnect, a visual problem-solving and collaboration tool for scientists, powered by Imaginatik's Idea Central and developed in partnership with CambridgeSoft and Pfizer.

"We are delighted to have secured this funding, and are well poised to pursue our growth strategy and capitalize on our market position in the growing fields of idea and innovation management," said Imaginatik's CEO Mark Turrell. "As we are seeing the twin trends of an increasing need for innovation and the growing acceptance of crowdsourcing approaches -- with both President Obama and US Chief Technology Officer Aneesh Chopra touting their importance -- Imaginatik's enterprise crowdsourcing solutions are uniquely placed to help companies find the best ways to identify and implement innovative concepts."

Imaginatik's Idea Central offers an enterprise-scale system with software and services based on a deep understanding of how human networks operate, providing technology and human-centric processes for idea capture, collaboration, evaluation and implementation. Key issues addressed by Imaginatik clients like Chubb, Cargill, Merck, Boeing and Xerox include cost reduction, new product development and sustainability.

To learn more about Imaginatik and Idea Central, please visit www.imaginatik.com.

About Imaginatik

With over a decade of experience, Imaginatik is the leading provider of enterprise crowdsourcing software and services centered on a deep understanding of how human networks operate. Clients such as Boeing, Cargill, Chubb, Pfizer and Whirlpool rely on Imaginatik's software, consulting and research to maintain a competitive edge. Named a World Economic Forum Technology Pioneer in 2008, Imaginatik is committed to developing innovative solutions by working with academic institutions such as IXL Center at Hult International Business School.

Imaginatik's North American operations are handled from the company's headquarters in Boston, Massachusetts. The company also has an office in the UK to service clients in EMEA and is publicly traded on the London Stock Exchange. For further information please visit http://www.imaginatik.com.