Digital IMS Completes Equity Offering With Odin Capital Group
Press release from the issuing company
LINCOLN, Neb.---June 17, 2002--Digital IMS announced the recent closing of a Series B Preferred round of equity financing. The financing was provided by Odin Capital Group, LLC, based in Omaha, Nebraska. Terms of the new financing were not disclosed.
Digital IMS licenses its proprietary Web-based software package to businesses in targeted industries that allows them to have a superior Web presence and electronic commerce functionality at an affordable price. Digital IMS has attracted over 700 clients with their initial products for the printing and sign manufacturing industries within the first year of distribution. The company also provides ongoing services, including continual updates to client Web sites by adding relevant industry information and unlimited support.
"This recent financing and our new partnership with Odin Capital allows Digital IMS to meet the needs of a greater number of markets at a faster pace than otherwise possible," said Jay Wilkinson, Digital IMS founder and CEO. "We expect to have a local presence in major U.S. and Canadian markets by 2003."
The new financing will enable Digital IMS to meet its expansion plans into other vertical markets. The company has targeted 10 vertical industries for its product, with three of these already in production. Digital IMS targets franchises and associations with its products with the objective of securing multiple clients through a single sale. The Digital IMS solutions offer a standard look and feel to each client, while still allowing for local customization.
"Transacting business over the Web is no longer a luxury, but a necessity to every business large and small. Digital IMS has developed a software package that makes the Internet more accessible, affordable, and dynamic for businesses who have otherwise been unable to leverage the power of the Internet," said Tom Rogers, a partner with Odin Capital. "We are excited by the market opportunity and the growth already exhibited by Digital IMS."
Concurrent with the completion of the financing, Digital IMS announced the election of Tom Rogers and Donna Walsh, both partners with Odin Capital, to the board of directors.
Digital IMS recently moved to the University of Nebraska Technology Park. The Technology Park is a statewide project of the University of Nebraska, the public and private sectors and the University of Nebraska Foundation.
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