Vivisimo, a Pittsburgh-based provider of enterprise search software, has raised $4 million in first-round funding from North Atlantic Capital.
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