PALO ALTO, Calif., and CAMBRIDGE, Mass. — January 23, 2008 — Endeca Technologies, Inc., an information access software company, today announced that it has secured financing from SAP Ventures.
"In just more than seven years, Endeca went from one customer and modest revenue to 500 customers and $100M-plus in sales. The next target is the elusive $500M milestone," said Bruce Richardson, chief research officer at AMR Research, in his January 11, 2008, report titled "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."
"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."
About SAP Ventures
Since 1996, SAP Ventures has been investing in companies that offer exciting new technologies and applications. Leveraging years of experience and drawing on a network of powerful business relationships, SAP Ventures helps entrepreneurs and management teams recruit the best people, make the right technology decisions, win new business, and build their own partner networks. The goal of SAP Ventures is to grow businesses that create shareholder value for everyone involved. For more information, visit sapventures.com.
About Endeca
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.
Headquartered in Cambridge, MA, Endeca has operations in North America, Europe and Asia. For more information: endeca.com or info@endeca.com.
Contacts:
Craig VerColen
Endeca
617-674-6190
cvercolen@endeca.com