17 March 2008Vivisimo Secures $4 Million in First Institutional Funding RoundNew Capital Will Fuel Global Expansion and Sales Initiatives
Pittsburgh, PA—Vivisimo, (vivisimo.com), a leading provider of enterprise search software and expertise, today announced the completion of its first
institutional investment round of $4 million USD funded by Portland, ME based North Atlantic Capital (northatlanticcapital.com). The financing will
support Vivisimo's continued global expansion and strengthen the company's sales and marketing efforts. "We are excited about North Atlantic Capital's decision to invest in our company and see this funding as a tremendous vote of confidence in our industry leadership and
growth strategy," stated Raul Valdes-Perez, chief executive officer of Vivisimo. "This investment will help accelerate our global business plan and strengthen sales and
marketing support for our award-winning Velocity enterprise search platform."
Vivisimo, organically-grown and profitable, was founded in 2000 as a spinoff of Carnegie Mellon University's Computer Science Department with technology grants
from the National Science Foundation's Small Business Innovation Research program and funding from Innovation Works, a Pennsylvania-funded organization that is the most active
seed-stage investor in Southwestern PA. Today Vivisimo has over 150 customers serving a wide range of markets and Fortune 500 companies.
"After following Raul and the Vivisimo team over the past several years we are very pleased to now have the opportunity to invest in the company. We view Vivisimo as an
industry visionary and leader in the rapidly growing high-performance enterprise search market," said Mark Morrissette, managing director, North Atlantic Capital.
"Vivisimo's organic growth since day one and proven track record of success behind its innovative Velocity enterprise search platform well suits our focus on investing in
sector-leading software and tech-enabled business service companies."
About the Vivisimo Velocity Platform
The Vivisimo Velocity platform provides enterprises with innovative search solutions that allow users to access, extract and manipulate all available content, regardless
of location. The latest version of Velocity is the first major enterprise search platform to bring business-ready Web 2.0 functionalities, such as social tagging, social
bookmarking, social networking and mash-ups to the market. By combining the simplicity of consumer search with the flexibility and control of enterprise software,
organizations can reap the benefits of increased user adoption and satisfaction without compromising on performance, scalability, security or the ability to configure a
solution specific to its business environment. Based on a service-oriented architecture that enables rapid deployment, Vivisimo Velocity can be up and running in just
weeks.
About Vivisimo, Inc.Vivisimo does search right by combining the simplicity and innovation of consumer search with the flexibility and control of enterprise software. The company works
with
customers to understand their goals and quickly deploy solutions that maximize the business value of information — with an interface user's love. Vivisimo serves its
global client base through headquarters in Pittsburgh, PA, and Paris, France, and partners throughout the world. Please visit vivisimo.com
to learn more about us and visit our Search Done Right blog to learn more about enterprise search. About North Atlantic CapitalPortland, Maine based North Atlantic Capital is an expansion stage venture capital firm investing primarily in tech-enabled business service, information technology and
communications companies. Established in 1986, North Atlantic manages a pool of capital in excess of $200 million, and is currently investing its fourth fund, closed in
2007. In addition to growth capital and board level guidance, North Atlantic offers its portfolio companies free research and M&A services along with executive education
programs at leading business schools. Other investments in the current fund include Tangoe, Inc., Servigistics, Inc., Invoke Solutions, Inc. and Synacor, Inc. To learn
more about North Atlantic's investment criteria and approach to value creation, please visit www.northatlanticcapital.com. ###
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