Imagespan, which offers content publishers a way to track and charge for the use of their pictures and videos online, has hired a new chief executive and raised a round of growth financing.

Kurt Garbe, former CEO of Solution Set and a previous chief operating officer of internet services firm USWeb, replaces Iain Scholnick as CEO. Scholnick will become chief platform officer. The company didn’t say how much money it raised in the recent funding round, except to say it was less than $5 million. The investors include existing investors Bertelsmann Digital Media Investments and CityLight Capital. A previous investor that did not participate in this round is Ackerley Partners.

Sausalito, Calif.-based ImageSpan created its LicenseStream platform to help media companies protect and monetize their content on the web. The tool lets content owners label their pictures or videos and tracks where they are used on the web and how many people view them. It can thus figure out exactly how much royalty money the content owners are owed.

The company launched LicenseStream in 2008 and has deals in place with big owners of digital content such as The Chicago Tribune newspaper, the Missouri History Museum, and McEvoy Group, publisher of media properties such as Spin magazine and Chronicle Books. Those ImageSpan customers have millions of photos, videos and other content to license. ImageSpan also teamed up with Arvato Financial Services to enable an easy royalty collection and distribution system.

Keith Titan, a principal at BDMI, said LicenseStream is gaining rapid customer adoption.

The financing will be used to expand domestic and international sales and marketing as well as develop new products. The company was founded in 2003 and has 20 employees. It has raised more than $14 million to date. Rivals include Getty Images, iTunes, Amazon.com, Hulu.com, Photrade and GumGum. But ImageSpan enables content owners not only to sell their work, but also to license it using models such as one-time usage.