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02/05/2008

Endeca Secures $15 Million in Venture Capital Investment

 

Endeca Technologies, Inc., an information access software company, recently announced that it has secured financing from Intel and SAP Ventures.

In this latest funding round, Intel alone is kicking in $10 million, the chip giant said. The rest of the funding - $5 million will come from SAP Ventures.

“In just more than seven years, Endeca went from one customer and modest revenue to 500 customers and more than $100 Million in sales. The next target is the elusive $500 Million milestone,” said Bruce Richardson, chief research officer at AMR Research, in his January 11, 2008 report entitled Endeca Set to Lead the Information Visibility Revolution. “What makes Endeca unique is its ability to provide visibility for everyone that needs it; whether for finding a part or selling to a customer or prospect...It could be years before Endeca faces products comparable to its own.”

“Information access platforms play a crucial role in linking vast collections of data,” Arvind Sodhani, Intel Capital president, said in a statement. “Endeca will further their capabilities by capitalizing on Intel's next generation multi-core platforms in this market segment.”

“Visibility into enterprise-wide information assets is a key area of interest for customers,” said Jennifer Scholze, Investment Partner at SAP Ventures. “By taking a fundamentally new approach to accessing and analyzing enterprise-wide data, Endeca is poised to disrupt multi-billion dollar markets and is uniquely suited to address the core opportunity of the information economy.”

“No company better understands the importance of enterprise data to today’s information-centric businesses than SAP. Our collaboration will open new doors and accelerate the realization of our vision to arm all knowledge workers with the critical enterprise data they need to inform daily decision making, regardless of source or format,” said Steve Papa, chief executive officer of Endeca. “As an SAP customer and now a key part of their investment portfolio, Endeca is on a favorable path to learn from -- and work closely with -- the most influential information applications company of our time.”

Endeca offers innovative information access software that helps people explore, analyze and understand complex information, guiding them to unexpected insights and better decisions. The Endeca Information Access Platform, built around a new class of access-optimized database, powers applications that combine ease of searching and browsing with the analytical power of business intelligence. Over 500 leading global organizations including ABN AMRO, Boeing, Cox Newspapers, The (US) Defense Intelligence Agency, Dell, Ford Motor Company, Hyatt, IBM, John Deere, The Library of Congress, Texas Instruments, and Walmart.com rely on Endeca to power business-critical applications that increase revenue, reduce costs and streamline operations.

Endeca is headquartered in Cambridge, MA, and has operations in North America, Europe and Asia.

For more information, please visit www.endeca.com