Imagine Communications, a company boasting powerful new streaming technology for home broadband providers, has raised a $15 million second round of financing.

The San Diego, Calif. company has R&D in Israel. The round was led by Court Square Ventures, and included previous backers Columbia Capital and Carmel Ventures.

The firm was founded by Ron Gutman and Doron Segev, previously at BigBand Networks, a company that has sued Imagine for patent infringement.

From the company’s statement:

The new financing will be used to accelerate Imagine’s growth and commercial deployments in digital video markets with its breakthrough VBR/Statmux (Variable Bit Rate and Statistical Multiplexing) technology, which offers 50 percent more bandwidth and improved video quality of digital video signals.

“The timing of this funding is critical as service providers launch and scale HDTV, VOD, SDV (Switched Digital Video), IPTV and other advanced PersonalizedTV™ services and applications. These services will become key for operators to compete in an environment that includes Cable, DBS, Telco and Wireless service providers,” said Imagine’s President and CEO, Jamie Howard. “As the demand grows for these new services, Imagine’s solutions will allow operators to rapidly deploy and scale while delivering optimal video quality with bandwidth efficiency.”

The company also says it has developed a targeted ad feature for its platform.

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