IN-Q-TEL FUNDS INTELLISEEK
August 7, 2001
Cincinnati, OH
Intelliseek™, provider of enterprise intelligence solutions, announced today that it has secured approximately $1.4 million in financing from In-Q-Tel, which includes an equity investment and development monies. The investment is a follow-on to Intelliseek's $8 Million Series B round closed in April 2001. The capital will enable the company to further enhance their enterprise intelligence solutions.
"We find Intelliseek's technology unique and believe there are many compelling applications for their solutions within the intelligence community as well as the enterprise market," said Gilman Louie, CEO of In-Q-Tel. In-Q-Tel is a private not-for-profit "venture catalyst" chartered by the CIA that invests in leading edge information technologies with application to the intelligence community and private sector.
In-Q-Tel serves not only as an investor, but also as a strategic partner to Intelliseek. The CIA, a super information organization, demands extremely potent intelligence tools. In-Q-Tel provides Intelliseek a platform for testing and improving their enterprise intelligence solutions in a complex, high volume user environment, as well as access to a potential government customer.
Intelliseek's solutions, with multiple language and source functionality, are based on a proprietary Intelligent Agent Platform™. Intelliseek Enterprise Search Server (ESS) is an enterprise application that can be used to automate knowledge discovery and aggregation from hundreds of disparate information sources across Intranets, Extranets and the Internet and make informed decisions. Intelliseek Corporate Intelligence Service (CIS) is used by brand managers, public relations professionals and product researchers of Fortune 1000 enterprises to derive timely, actionable consumer and competitive intelligence by analyzing consumer word-of-mouth and other related information sources.
"We are very excited to have In-Q-Tel as our partner along with Ford Motor Company and Nokia Venture Partners," said Mahendra Vora, Chairman and CEO of Intelliseek. "In this challenging economic environment, having this capital infusion, within 45 days of our $8 Million Series B funding, further endorses our technology, people and our value proposition to customers."
Leading F1000 enterprises use Intelliseek's services to maximize their brand equity and establish closer understanding and connection to their customers. With Intelliseek solutions, organizations create, protect and promote their valuable brands and identities, while leveraging their corporate knowledge equity to build an informed, competitive environment.
About Intelliseek
Intelliseek is a supplier of enterprise intelligence solutions. Using advanced information technologies, the company helps Global 2000 enterprises leverage knowledge equity to make informed decisions, increase employee productivity, compete smarter by understanding their competitors, and most importantly, increase customer satisfaction and decrease customer support costs. All Intelliseek enterprise applications are built on a highly scalable, XML-based, proprietary, Intelligent Agent platform™, that can be customized to perform specific intelligence tasks for a given enterprise. The company operates ProFusion.com (a destination site for business users which showcases its Enterprise Search Server capabilities) and offers the award-winning BullsEye® family of applications for individual web researchers. For more information, visit www.intelliseek.com or email info@intelliseek.com. Intelliseek, based in Cincinnati, Ohio, is a privately held company funded by Ford Motor Company, Nokia Venture Partners, River Cities Capital and In-Q-Tel and other, private investors.
About In-Q-Tel, Inc.
In-Q-Tel is a venture catalyst that combines strategic investing with technology expertise to partner with the world's leading information technology innovators. In-Q-Tel's strategy is guided by the needs of one of the most demanding technology customers in the world—the Central Intelligence Agency. In-Q-Tel is a private, not-for-profit company funded by the CIA with one objective: to identify and deliver the next generation of information technologies to support the CIA's critical intelligence missions.
For entrepreneurs, In-Q-Tel offers a source of capital, and access to technical expertise and power users with some of the toughest enterprise IT problems today. For venture partners we bring an expert in-house technical team and agile and highly rigorous technical due diligence process. We also bring a team of experienced business builders and leaders who are committed to growing great companies that develop great products. In-Q-Tel has partnered with more than sixteen IT companies since launching bi-coastal operations in Northern Virginia and Menlo Park, California in the fall of 1999.
Additional information about In-Q-Tel is available at www.in-q-tel.org.
