Friday, June 27, 2008

Initiate Systems, Inc is master data management solutions got $26 million financing

What Company Is Offering:
Initiate Systems, Inc. enables organizations to strategically leverage and share critical data assets. Its master data management (MDM) software and experience as an information exchange leader provide organizations with complete, accurate and real-time views of data spread across multiple systems or databases, even outside the firewall. This allows companies to unlock the value of their data assets for competitive advantages or operational improvements. Initiate Systems operates globally through its subsidiaries, with corporate headquarters in Chicago and offices across the U.S., and Toronto, London and Sydney.

How Much They Got From VCs:

Initiate Systems, Inc., a leader in master data management (MDM) solutions, announced today completion of a $26 million financing. Paladin Capital Group led the round, which also included participation from new investors Dunrath Capital, EMC Corporation (NYSE:EMC - News) and Informatica Corporation (NASDAQ:INFA - News) as well as existing investors, Sigma Partners, Apex Venture Partners and First Analysis Group.

“Investors have been very enthusiastic about participating in this round of funding,” said Bill Conroy, Initiate’s president and CEO. “The influence of these investors is a strategic advantage, as we capitalize on new opportunities and extend our leadership in MDM. This funding empowers us in our mission: Helping customers unlock the value of their data assets.”


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