Cambridge, Mass., July 23, 2003 - Endeca, the only provider of Guided Navigation and advanced search solutions, announced today that it surpassed the 50-customer mark during Q2 2003. The company also announced it has garnered over $20 million in new business in just over a year and half since introducing its first commercial offering. Endeca has successfully launched Endeca InFront for commerce and catalog search and Endeca ProFind for enterprise search. Both products feature Endeca's unique Guided Navigation, a new, patent-pending innovation that has received strong market acceptance. Endeca also announced that Forrester Research, Inc. (Nasdaq: FORR), a technology research and consulting firm specializing in identifying and analyzing trends in technology and their impact on business, has positioned Endeca as a leader in its latest Forrester Wave Report, The Future of Enterprise Search.
Since deploying a direct sales force in January 2002, Endeca has experienced rapid market uptake for its solutions, both in the online commerce and enterprise search markets. Endeca InFront, the company's offering for B2B and B2C commerce and catalog web sites, has been successfully implemented by a significant number of well known corporations and brand name retailers including 1-800-FLOWERS.COM, Arrow Electronics, Barnes & Noble.com, Eddie Bauer, Home Shopping Network, JC Whitney, and PC Connection. Endeca InFront solutions feature advanced search, Guided Navigation and dynamic merchandising for e-commerce companies seeking to offer their customers a superior shopping experience that generates proven, positive results in conversion rates, order sizes and overall shopper satisfaction.
Endeca launched its enterprise search offering, Endeca ProFind, in the third quarter of 2002. ProFind features Guided Navigation for the enterprise, and is uniquely able to handle both structured and unstructured information for easier access to all types of enterprise data and documents residing across a wide variety of repositories. ProFind applications solve a variety of business and information overload problems by enabling knowledge workers, vendors and customers to access information using Endeca's advanced search, Guided Navigation and dynamic rules functionality. ProFind is also a unique and powerful complement to rich content applications like CRM, HRM, and PLM, and has already attracted leading companies such as Cabot Corporation, Old Mutual, Putnam Investments, Wall Street Source, Weatherford and World Book.
"The terrific momentum that Endeca has experienced since launching Endeca InFront and ProFind comes as no surprise when you examine just how expensive the problem of information overload is to every kind of business" said Jim Baum, president and COO of Endeca. "The Endeca Navigation Engine has proven itself a powerful platform that delivers not just the best in advanced searching, but Guided Navigation, an entirely new way for people to find what they are looking for. Guided Navigation is simply not available from any of the legacy search vendors. Our growth from three to over 50 customers in just l8 months, including many competitive wins against established vendors such as Verity (Nasdaq: VRTY), Convera (Nasdaq: CNVR) and Autonomy (Nasdaq: AUTN), is proof that companies are eager to adopt next generation technology if it will really yield demonstrable business results. In addition, our track record of fast and successful customer implementations has been instrumental in generating confidence in the marketplace."
Forrester Research has also identified Endeca as a leader in the latest Forrester Wave Report on Enterprise Search. The report segments the Enterprise Search market into three areas based on content use types, and cites Endeca as a leader in all three. Across all enterprise search categories, Endeca stood out for its overall strategy, specifically within the "Structured Content, Unlimited Topics" category. Paul Sonderegger, senior analyst and author of the report, also forecasts Endeca to be one of the future leaders in Enterprise Search.
The Forrester Wave is based on vendor interviews, where companies were surveyed about their financial situation and product capabilities, as well as on client interviews, where customers of each company discussed issues such as implementation times, support levels and required maintenance.
"For today's companies in need of better, more useful ways to find valuable information among their often complex and unwieldy data, the Forrester Wave for Enterprise Search provides a good foundation on how to approach evaluating today's available technologies," added Baum. "Forrester's recognition of Endeca as the strategy leader is testimony to our understanding of the issues surrounding information overload, and the science and thinking that has gone into the invention and development of Endeca's enterprise search offering. We are proud to be recognized by Forrester as succeeding in this most important mission."
Endeca's Guided Navigation with advanced search solutions help businesses across a variety of sectors like retail, financial services, manufacturing, information publishing and business-to-business with applications that address the information overload problems associated with content, catalog and enterprise information access and retrieval. Endeca solutions are built on innovative technology that makes it possible for the first time to offer Guided Navigation and advanced search on structured and unstructured information with high performance, and low total cost of ownership, at any scale.
About Endeca
Endeca offers innovative advanced search and Guided Navigation information delivery solutions for companies who need to integrate, discover, and navigate enterprise data to solve the business problems associated with information overload. Endeca technology is already at work for leading retail, financial services and business-to-business companies like Barnes & Noble, Putnam Investments, Eddie Bauer, and Arrow Electronics. Endeca solutions empower users to explore and discover relevant relationships in data and find accurate and precise results with unprecedented speed. Patent-pending algorithms provide a scalable, Web-based infrastructure for data exploration, leading to highly relevant and meaningful search results every time. This technology can be applied across a wide-range of enterprise and customer applications including Customer Relationship Management (CRM) analytics, catalogs, directories, search and portal integration. Endeca is a privately held company headquartered in Cambridge, MA and is backed by leading venture capital firms including Ampersand Ventures, Bessemer Venture Partners and Venrock Associates. Endeca is an IBM Advanced Business Partner and is a preferred provider of IBM’s WebSphere Commerce Group. For more information, please visit www.endeca.com or email us at info@endeca.com.