IntelliSeek Raises $6M First Round

Having built three companies that have been acquired by Fortune 500 enterprises, Mahendra Vora has been able to use his own capital to finance the development of IntelliSeek, his fourth start-up over the past three years.

Earlier this year, the Cincinnati-based company, which develops enterprise software, raised $6 million in its first institutional round of venture financing.

Nokia Ventures LP, River Cities Capital Funds, Chrysalis Ventures and several individual investors participated in the Series A round. As part of the deal, Nokia Partner John Garder and River Cities Principal Rick Keiser joined the company’s board.

IntelliSeek’s software gives enterprises more effective access to the Internet by enabling users to harness, manage and leverage digital information, Vora said.

“We have established a beachhead in the market with the highest standard of products that overcome information overload,” he said. “Our model is to develop intelligent access to the Internet.”

Proceeds from the investment will be spent on sales and marketing, including establishing further ties to several Internet portals and search engines, as well as developing new products. Vora said IntelliSeek plans to target the individual consumer market soon with new product launches.

Citing his track record of successfully selling companies to larger corporations, Vora said IntelliSeek may pursue acquisition as a possible exit strategy.

“We are funded for a reasonable amount of time,” he said. “We will likely raise an additional second round and then exit through an IPO or acquisition.”