Video display tech co C-nario raised $5 million

The company has appointed former ECI president and CEO Doron Inbar as its CEO.

C-nario Ltd., a start-up developing digital messaging platforms for video displays, announced today that it closed its first financing round, raising $5 million from Carmel Ventures. The company also said it had appointed former ECI Telecom (Nasdaq: ECIL) CEO and president Doron Inbar as its CEO. Inbar is an independent partner in Carmel Ventures and serves on the board of several of its portfolio companies.

C-nario was founded in 2002 by chairman Arnon Diskin. The company provides software-based platforms that enable the playback and management of complex video displays in an extensive range of high traffic environments. C-nario’s solutions have been deployed by a range of large customers including Royal Philips Electronics (NYSE: PHG; AEX:PHI), BBC, CNN, Bank Hapoalim (LSE: BKHD; TASE: POLI), Axel Springer AG, Motorola Inc. (NYSE: MOT), and First Republic Bank.

Inbar said, “C-nario’s solutions make digital signage and advertising significantly easier. The company’s products enable simple and easy content creation, management and distribution. I believe that C-nario will eventually become the leader in the digital signage market.”

Carmel Ventures managing partner Rina Shainski added, “The growth in the digital signage market is being driven by the increasing accessibility to digital screens and broadband networks. C-nario is one of the few companies worldwide that provides a full solution for digital signage networks. We at Carmel Ventures believe that the digital media and signage will see tremendous growth in the coming years.”

C-nario is controlled by Diskin and Oded Mozes, owner and CEO of the Grapholit Group.

Published by Globes [online], Israel business news - www.globes.co.il - on January 8, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2006

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