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Connotate Increases Momentum and Closes $7M Series B Funding
NEW BRUNSWICK, NJ, Apr 12, 2012 (MARKETWIRE via COMTEX) --
Connotate, Inc., the leading provider of solutions that help
organizations monitor and collect data and content from the Web,
today announced that it has raised $7 million in Series B funding led
by Castile Ventures, with participants including new investor Prism
VentureWorks and existing investor .406 Ventures. Connotate will
apply this new capital to execute on an accelerated growth strategy
that includes establishing a world-class partner program and
international expansion.
"Connotate's unique and differentiated technology has positioned it
to capitalize on the explosion of Big Data and enterprises' growing
appreciation of the value that highly scalable data monitoring and
collection can bring," said Nina Saberi, Founder & Managing Partner
of Castile Ventures. "We're excited to partner with a leader in this
rapidly growing market, and delighted to be working with Keith Cooper
again."
"Since our initial investment in Connotate, I have been continuously
impressed with the company's execution and traction in the market.
Connotate gives companies the ability and accuracy to automate the
capture of real-time Web data," said Liam Donohue, General Partner of
.406 Ventures. "With Connotate's recent acquisition of Fetch
Technologies and addition of Castile and Prism to the team, we are
very excited about the company's position and vision to be a market
leader in the Big Data industry."
In the recent weeks, acquiring Fetch Technologies and announcing
Keith Cooper as CEO, has significantly enhanced Connotate's market
position as a leading provider of data aggregation and monitoring
solutions. With analyst firm IDC predicting the Big Data market to
hit $16.9bn by 2015, information collection and monitoring is a
critical challenge for organizations trying to leverage Web content
for business use. Connotate provides companies of all sizes with an
automated functionality that allows organizations to monitor and
extract the precise information they need to deliver custom data
solutions and drive ROI.
"2012 has started out very strong for us," said Keith Cooper, CEO
Connotate. "Our next product release -- due out this spring -- will
make it even easier for companies to aggregate and monitor
information from the Web. It is our goal to help enterprises take
advantage of the immense opportunities that Big Data has to offer and
find answers to industry questions that were once too time-consuming
to resolve."
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About Castile Ventures
Castile Ventures is a top-performing
early-stage venture capital firm that partners with exceptional
entrepreneurs to exploit new waves of disruptive innovations and
create market-transforming enterprises. Since our founding in 1998,
we have consistently invested in companies that redefine the status
quo, helping to transform bold visions into market leaders. We are
grounded by our deep understanding of technology-related markets and
by our hands-on experiences. Currently, we are focused on backing
teams that are creating the enabling infrastructure for new classes
of Internet-related businesses, such as broadband-enabled businesses,
cloud computing, digital media and mobility. For more information,
please visit: http://www.castileventures.com/.
About Prism VentureWorks
Prism VentureWorks (www.prismventure.com)
is an early stage venture capital firm focused on disruptive segments
in the Digital Media, Life Sciences, and Software & Services sectors.
The firm is comprised of a committed team of investors whose industry
operating heritage and domain depth make them valued partners among
entrepreneurs and syndicates in building successful businesses.
Founded in 1996, the Firm has approximately $1.25 billion in capital
under management and is based in Needham, MA.
About .406 Ventures
.406 Ventures (".406") is a venture capital
firm focused on investing in market-innovative growth technology and
services companies being built by the finest entrepreneurs. .406
focuses primarily on early stage, IT and services companies in
sectors where the partners have unique domain expertise, a successful
track record, and established networks -- IT Security;
Technology-enabled Business Services; Digital Media; IT
Infrastructure; Next-Generation Enabling Technologies. More
information can be found at www.406ventures.com.
About Connotate
For organizations in which content and data are
vital to success, Connotate is the Web collection company that puts
the power of Web data monitoring and collection into the hands of the
business user. Through an easy-to-use 'point and click' interface and
patented algorithms, Connotate delivers the scalability, reliability
and resiliency necessary to drive strategic value from dynamic, Web
sources. With benefits ranging from increased productivity,
competitive advantages and dramatic operational cost savings,
Connotate's growing customer list includes global businesses such as
McGraw-Hill, Associated Press and Thomson Reuters. Connotate has been
named a KMWorld "Trend-Setting Product" for the past six years.
Connotate announced the acquisition of Fetch Technologies in March
2012. For more information, please visit http://www.connotate.com.
Contacts:
Gina Cerami
Connotate, Inc.
(732) 964-1380
Email Contact
Katie Surro
fama PR
(617) 986-5025
Email Contact
SOURCE: Connotate
http://www2.marketwire.com/mw/emailprcntct?id=BD5EFE039435BBFD
http://www2.marketwire.com/mw/emailprcntct?id=B97A0E446896B959
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