Israel Science Technology

Endpoint virtualization security solutions provider Neocleus raised $11.4 million

noreply@blogspirit.com (ARPU~UP) — Fri, 20 Jun 2008 18:25:00 +0200

Endpoint virtualization security solutions provider Neocleus has raised $11.4 million in Series B financail funding led by Battery Ventures and Gemini Israel Funds.

Neocleus applies security virtualization solutions to desktops and laptops, which enable critical IT tasks to operate in isolated, trusted virtual environments with complete access to the capabilities offered by the underlying endpoint hardware.

In May 2008 the company launched its Desktop Hypervisor Framework, an endpoint hypervisor enhancement to the Xen server hypervisor that the company will be contributing to the open source community to foster an ecosystem of innovation. In early June Neocleus announced Trusted Edge, the first in a suite of virtual software appliances that allows for secure access to corporate resources regardless of the endpoint’s location or state of security.

“Endpoint challenges have grown exponentially as the number of different user scenarios have increased and evolved, introducing new complexities and new IT requirements,” said Adi Pundak-Mintz, General Partner, Gemini Israel Funds.” Neocleus’ solutions address this burgeoning market with a strong vision, technology innovation, solutions and a proven management team.”

Neocleus was founded in 2006 by Ariel Gorfung (CEO) and Etay Bogner (CTO). Gorfung recently served as the CEO of Intuwave, a provider of connectivity middleware to the Symbian mobile operating system. Prior to joining Intuwave, Gorfung co-founded e-Sponsor, which was acquired by Intuwave in October 2000. Bogner was the co-founder of and managing director of SofaWare, which Check Point Software acquired a majority share. Neocleus headquartered in New Jersey, UA, and its R&D center located in Tel Aviv, Israel.

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Mobile backhaul solutions provider Celtro raised $20 million from Rho Ventures, Genesis and Cedar

noreply@blogspirit.com (ARPU~UP) — Wed, 14 May 2008 17:05:00 +0200

Mobile backhaul optimization solutions provider Celtro has raised $20 million in financing round led by Rho Ventures, with the participation of existing investors Genesis Partners and Cedar Fund. The company will invest the proceeds to further expand international operations and to penetrate new markets.

Celtro provides creative mobile backhaul switching solutions that improve service delivery, increase network efficiency, and facilitate smooth backhaul network evolution - helping providers enhance revenues, improve customer satisfaction, lower operational costs and optimize their backhaul network assets. The company has commercially deployed its backhaul switching products in the mobile networks of more than 50 leading operators.

Headquartered in Petah Tikva, Israel, Celtro was founded in 2001 as a business unit within ECI Telecom and was spun-off in 2003 as a privately-owned, independent company.

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3D sensing technology provider Prime Sense raised $20.4 Million

noreply@blogspirit.com (ARPU~UP) — Tue, 6 May 2008 17:15:00 +0200

3D sensing technology provider Prime Sense raised $20.4 million in second round of funding led by Canaan Partners and included A round investors, Gemini Israel Funds and Genesis Partners. The funds raised will enable the company to shift from the development phase to sales, according to Inon Beracha, CEO of Prime Sense.

"We believe that the company's breakthrough technology positions it as a market leader in the fast growing arena of 3D machine vision, and we are delighted to see the market traction that Prime Sense is gaining with major brands," says Izhar Shay, a venture partner at Canaan Partners, who has joined the company's Board of Directors.

Prime Sense develops innovative 3D sensing technology that provide any digital device with the ability to see and understand the world in 3D just like humans do. The Israeli startup is focused on deployment of the technology in video game and Consumer Electronics. The company was founded in 2005 by by Aviad Maizels, the company's President, and includes Alex Shpunt, Dmitri Rais, Ophir Sharon and Tamir Berliner.

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Mobile software management provider Red Bend secured $10 million

noreply@blogspirit.com (ARPU~UP) — Tue, 22 Apr 2008 19:05:00 +0200

Over-the-air mobile software management provider Red Bend has secured $10 million in funding led by new investor Coral Capital Management, joined by Red Bend’s existing investors: Carmel Ventures, Greylock Partners, Pitango Venture Capital, Poalim Ventures and Infinity.

Red Bend will use the new funds to grow its position in the mobile market as well as seize new opportunities in licensing its software for other connected wireless devices such as mobile broadband PC cards, USB modems, embedded chipsets and machine-to-machine (M2M) modules.

The company mobile software already shipped in 305 million mobile phones worldwide. Red Bend forecasts that in the second quarter its software will reach 360 million mobile devices, including mobile phones, mobile broadband PC cards and modems, and M2M wireless modules.

“With its software now reaching more than 305 million mobile phones worldwide, Red Bend has achieved something only a handful of players in the mobile industry can claim,” said Harel Beit-On, Chairman of the Board of Red Bend and General Partner of Carmel Ventures. “This mass market success with mobile phones and recent deals for modems and M2M devices demonstrate the vast market potential for the company’s products.”

Red Bend helps mobile phone manufacturers such as LG Electronics, Motorola, NEC, Sharp, Sony Ericsson to accelerate the adoption of new services and features. Founded in 1999, Red Bend Software is a privately held with offices in China, Israel, Japan, Korea, UK and the US.

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Virtualization solutions provider ScaleMP received $8 million

noreply@blogspirit.com (ARPU~UP) — Thu, 3 Apr 2008 17:05:00 +0200

Virtualization solutions provider ScaleMP has received $8 million in new venture funding from its existing investors: Sequoia Capital, Lightspeed Venture Partners, TL Ventures, and ABS Ventures. This new round of funding brings the total raised to date to $26 million.

The ScaleMP technology allows a server to expand outside a single system boundary, addressing growing end-user requirements for large memory systems or systems with high-core count.

“ScaleMP is revolutionizing the high-end computing market by aggregating multiple industry-standard x86 servers into a single system,” said Barry Eggers, general partner at Lightspeed Venture Partners, and chairman of the board at ScaleMP. “During 2008, I expect the company to build upon its strong customer traction and market momentum, as well as the strategic partnerships that it has already established.”

Using software to replace custom hardware and components, ScaleMP offers virtualization solution for high-end computing environments. Founded by Shai Fultheim, the company CEO, ScaleMP headquartered in Cupertino, California and its R&D center located in Rosh Ha'ayin, Israel.

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France Telecom subsidiary Viaccess to acquire Orca Interactive for $21.4 million

noreply@blogspirit.com (ARPU~UP) — Mon, 10 Mar 2008 14:00:00 +0100

Viaccess, a France Telecom subsidiary that provide IPTV protection solutions, is to acquire IPTV middleware and applications provider Orca Interactive for an estimated price of $21.4 million.

The acquisition will allow Viaccess to seize the new opportunities of the TV and video markets, and to bring innovative solutions to content services operators such as broadcasters and telecom companies.

Orca Interactive, listed on AIM London Stock Exchange, is a provider of IPTV middleware and applications for broadband network operators and service providers. It help operators to deliver broadcast TV, video on demand (VOD), personal video recording (PVR), home media services.

Viaccess delivers solutions for digital pay television and secured content distribution. Its conditional access and DRM solutions deployed in 30 countries worldwide, on more than 80 digital platforms including multi-channel providers and digital content distributors.

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CAD interoperability solutions provider Proficiency raised $4.25 million

noreply@blogspirit.com (ARPU~UP) — Thu, 28 Feb 2008 15:45:00 +0100

CAD interoperability solutions provider Proficiency has raised $4.25 million in funding led by Catalyst Investment. Current investors, Carmel Ventures and Pitango Venture Capital also participated in the financing round, which will support the company growth and product initiatives.

"This round of investment is part of Proficiency's strategic growth plan, and re-enforces our roadmap and commitment to provide the level of CAD interoperability which modern CAD users expect and deserve," said Alex Shapira, President and CEO of Proficiency. "Rather than giving up a large part of the design intent or manually re-designing models in another CAD, manufacturers can now preserve the integrity of their product knowledge and validate it at the required level of accuracy in a fast, reliable and scalable way.

Proficiency's solutions, based on the Collaboration Gateway, enable OEMs, partners and suppliers with heterogeneous PLM and multi-CAD environments to ensure effective product knowledge integration (PKI) during design and manufacturing processes.

"Proficiency has revolutionized the way people think about their product knowledge as they need to deliver 3D models to other CAD systems or migrate them to a modern CAD," said Yair Shamir, chairman and managing partner, Catalyst Investments.

Proficiency is providing solutions to leading OEMs and suppliers in industries such as aerospace & defense, automotive, and heavy machinery. Customers like Alstom Transport, Boeing, Bombardier, Daimler, EADS, FIAT Powertrain, Ford, General Dynamics, Northrop Grumman, Siemens, and ThyssenKrupp, are using Proficiency's solutions. Proficiency headquartered in Massachusetts and its R&D center located in Jerusalem, Israel.

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UWB chipsets provider Wisair secured $24 million

noreply@blogspirit.com (ARPU~UP) — Wed, 27 Feb 2008 15:10:00 +0100

Wisair, a provider of single-chip based Ultra Wideband (UWB) and Wireless USB (WUSB) solutions, has secured $24 million. The financing round was led by four new investors: Susquehanna Growth Equity (SGE), Advent Venture Partners, Bridge Capital Fund of Japan and Yasuda Ventures. Existing Wisair investors also participated, and included Apax Partners, Broadcom, Intel Capital, Vertex, and Zisapel brothers from the RAD group.

This additional funding will enable Wisair to accelerate the release of products with integrated WUSB capabilities to satisfy the burgeoning demand for simple high-speed wireless connectivity in the consumer electronics industry," noted Jonathan Klahr of SGE.

“Wisair's market-ready, single-chip technology is poised to play a major role in the WUSB market, which is now fully set to experience rapid growth over the next few years,” said Martin McNair, general partner.

Wisair is a fabless semiconductor company providing UWB and Wireless USB chipsets and reference designs for personal computing, consumer electronics, and mobile devices. Wisair headquarters are in Israel, with offices in the USA and Japan, and representatives in Korea, Taiwan and Singapore.

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Multi touch technologies developer N-trig raised $33 million

noreply@blogspirit.com (ARPU~UP) — Wed, 20 Feb 2008 16:30:00 +0100

Mobile computing pen and multi touch technologies developer N-trig has completed a fund-raising round of $28 million from Canaan Partners, Evergreen Venture Partners. In addition to the investment round, N-trig has recently secured a credit facility of $5 million from venture lending fund Plenus.

N-trig’s DuoSense technology, combining pen and zero-pressure touch for mobile computers into a single device, is now being deployed by Dell Computer. Other major brands are expected to announce new products, which raises the bar on the next generation of notebook PCs and other mobile devices currently in development.

“The computing user interface is on the verge of a major shift: after using a mouse and a keyboard for many years, the market is seeking an enhanced user experience,” said Boaz Dinte, Managing Partner at Evergreen Venture Partners. “We believe that N-trig’s DuoSense will lead this revolution, positioning it as the premier technology in both tablet PCs and mobile devices.”

N-trig develops natural input digitizer solutions for notebook PCs and mobile computing devices. N-trig was founded in 1999 by Dr. Meir Morag, the company current president. N-trig maintains its global headquarters in Kfar Saba, Israel and has a regional presence with offices in Austin, TX and Taipei, Taiwan.

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eBay to acquire online risk tools provider Fraud Sciences for $169 million

noreply@blogspirit.com (ARPU~UP) — Mon, 28 Jan 2008 15:45:00 +0100

eBay has agreed to acquire the Isreali online risk tools provider Fraud Sciences for $169 million in a cash transaction. Fraud Sciences’ risk tools and analytics are intend to enhance the fraud management systems of eBay and its online payment solutions firm, PayPal.

“Integrating Fraud Sciences’ risk tools with PayPal’s sophisticated fraud management system should allow us to be even more effective in protecting eBay and PayPal's hundreds of millions of customers around the world," said Scott Thompson, President of PayPal.

Key personnel from Fraud Sciences, including Yossi Barak, Fraud Sciences’ COO, and founders Shvat Shaked and Saar Wilf, will join the company’s technology and fraud management teams. Gadi Maier, Fraud Sciences' President and CEO, will provide strategic and operational support to the company during the integration period.

Fraud Sciences has developed a technology that differentiates between real and fraudulent transactions with unprecedented accuracy. Using this groundbreaking technology, Fraud Sciences offers a unique transaction verification service to manage online fraud. Fraud Sciences is funded by BRM Capital, Redpoint Ventures and other US and Israeli investors.

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Networking devices provider Dune Networks raised $12 million

noreply@blogspirit.com (ARPU~UP) — Wed, 16 Jan 2008 11:25:00 +0100

Dune Networks, a provider of networking devices for Metro Ethernet, Enterprise and Data Center platforms, had closed a $12 million investment round led by US Venture Partners (USVP).

Dune’s existing investors; Alta Berkeley Ventures, Aurum Ventures, Cipio Partners, Jerusalem Venture Partners, Pitango Venture Capital and its strategic investors participated in the financing round. This additional funding brings the total amount of funding raised to date to $45 million.

"Dune has established itself as the leading vendor of high performance packet switching solutions," said Chris Rust, General Partner at USVP, who joined Dune's Board as part of the investment. The new funding is to be used to accelerate development of new product lines while expanding sales and support of existing customers.

Dune Networks is a supplier of networking devices facilitating the build of Data Center, Enterprise and Carrier Ethernet platforms. Founded in 2000 by Eyal Dagan, Dune is located in Sunnyvale, California with an R&D center in Yakum, Israel.

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GPON semiconductors supplier BroadLight closed $12 million financing round

noreply@blogspirit.com (ARPU~UP) — Mon, 17 Sep 2007 17:40:00 +0200

GPON semiconductors and software supplier BroadLight has closed a $12 million series E financing round led by Benchmark Capital. Benchmark joins BroadLight’s list of investors which includes Azure Capital Partners, Broadcom, Cipio Partners, Delta Ventures, Israel Seed Partners, Motorola Ventures, Star Ventures and Tellabs.

“We believe BroadLight has enormous opportunity in the growing GPON fiber market,” said Arad Naveh, general partner at Benchmark Capital Israel. “The company has clearly demonstrated its ability to execute with the development of the widely accepted first generation GPON ONT SoC and 4 port OLT ASIC product lines. We anticipate the same time-to-market delivery and world-class silicon integration with its upcoming Residential Gateway product line.”

Founded in June 2000, BroadLight is delivering end-to-end (E2E) complete E2E BPON and GPON component solutions for the central office (CO) and customer premise equipment (CPE). These solutions help equipment companies bring standards-based PON products quickly to market and with low risk. The company headquarters is located in Mountain View California USA, its R&D facility is in Ramat Gan, Israel and sales and support offices in Mountain View, Ramat Gan, Taipei Taiwan and Shanghai China.

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RFID battery assisted provider PowerID raised $12 million

noreply@blogspirit.com (ARPU~UP) — Tue, 4 Sep 2007 17:50:00 +0200

PowerID, an innovative provider of Battery-Assisted Passive (BAP) RFID technology, has completed a $12 million fundraising round led by Partech International with the participation of existing shareholders, including Amadeus Capital Partners, Apax Partners, Clal Industries and Investments, and Infinity Venture Capital.

PowerID was spun out of parent company, Power Paper, in January 2007. PowerID products are based on the revolutionary concept of upgrading the performance of passive RFID technology by integrating a thin and flexible battery into passive RFID label technology. The company provides RFID battery assisted passive (BAP) technology for RF-challenging applications that involve freight, chemicals, metals, and paper.

“Over the last year, we have shown that BAP addresses a large market need. In the future, we will continue to address this need while expanding into new opportunities with an EPC-compliant, BAP product line and sensor labels,” said Erez Kahani, CEO of PowerID.

Headquartered in Petah Tikva, Israel, PowerID has successfully deployed its solutions in a number of vertical industry segments. These applications include, among others, tracking high value pallets with RF-challenging materials from distribution center to customers; industrial paper reels from manufacturer to print house; and metal aircraft parts during the manufacturing process.

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Enterprise data protection solutions provider Diligent secured $10.5 million

noreply@blogspirit.com (ARPU~UP) — Thu, 23 Aug 2007 14:25:00 +0200

Diligent Technologies, a provider of enterprise-class de-duplication and data protection solutions, has secured $10.5 million from Eastward Capital, Matrix, Accel and Gemini. The Series D funding is bringing the total amount raised to date by Diligent to $46.5 million.

“We are experiencing a significant and rapid increase in demand for our ProtecTIER enterprise data deduplication platform, said Doron Kempel, Chairman and CEO of Diligent. “In order to meet this demand, we raised funds that will allow us to increase our coverage in the field, enhance and accelerate our R&D plans as well as meet the demands of new Tier 1 and Tier 2 distribution partners that we will soon announce.”

Diligent is offering an enterprise-class disk-based data protection solution that enables customers to effectively increase the capacity of disk systems by 25 times or more. Since it became generally available in January 2006, Diligent’s ProtecTIER Data Protection Platform has been increasingly installed in the world’s Fortune 1000 data centers.

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Energy efficient lighting solutions provider Metrolight secured $9 million

noreply@blogspirit.com (ARPU~UP) — Mon, 20 Aug 2007 14:20:00 +0200

Energy efficient lighting solutions provider Metrolight has secured an investment of $9 million led by Virgin Fuels and Gemini Israel Funds with participation from Israel Cleantech Ventures and Altshuler Shaham. The Israeli company, that provides electronic ballasts for HID lighting, will use the funds to accelerate its expansion and to meets the increasing global demand for energy efficient lighting.

"Inefficient lighting is one of the largest sources of energy waste," said Sir Richard Branson, the founder of Virgin Fuels investment firm. "Through Virgin Fuels, we invest in companies such as Metrolight that help reduce greenhouse gas emissions and substantially improve energy efficiency around the world."

Based on a patented and field proven lighting technology, Metrolight's products help customers reduce up to 65% of lighting energy costs, double lamp life, drastically reduce maintenance costs and take full control of their lighting systems through integrated software management systems. The company cooperates with most of the world's largest and leading luminaire manufacturers and has installed hundreds of thousands of ballasts since launching the product in 2002.

Metrolight was founded 1996 by Yigal Yanai and led by Igal Zamir, CEO and President, and Yoav Leeran of Sampal Capital and Chairman of the Board, Metrolight. Shai Weiss from Virgin Fuels, Adi Pundak-Mintz from Gemini and Glen Schwaber from Israel Cleantech Ventures will join the Metrolight Board.

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Workflow & BPM software provider PNMsoft secured $3.3 million from Goldrock

noreply@blogspirit.com (ARPU~UP) — Wed, 15 Aug 2007 09:25:00 +0200

PNMsoft, a provider of software solutions for Workflow and business process management (BPM), today has secured an investment of $3.3 million from Goldrock, an investment fund of the Goldman Investments Group.

"Goldrock's investment provides PNMsoft solid financial backing enabling it to accelerate and expand overseas operations, with a particular focus on Europe", said Gal Horvitz, CEO of PNMsoft. "We plan to play a dominant role in our segment within Europe as well as expand our North American activities in preparation for a future public offering.”

PNMsoft (formerly Panam Information Systems) is the developer of Sequence, a system that enables the fast and simple setup, operation and management of business know-how and processes. Sequence automated modules run a range of business work flows (production, development, acquisition, finance and more) with significant time and cost savings. The Company's R&D operations are based in Netanya, Israel, and the international headquarters are located in London.

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Home networking chip developer Valens Semiconductor raised $7 million

noreply@blogspirit.com (ARPU~UP) — Thu, 19 Jul 2007 16:50:00 +0200

Valens Semiconductor, a developer of a chip that will enable high quality transmission of audio and video in a home networking environment, has raised $7 million from Genesis Partners and Magma Venture Partners.

Valens operates in the area of high definition quality home networking. The company’s chip enables the transmission of uncompressed audio and video at a high resolution to television screens as well as the management and control of different network elements. Valens' product line meets an increasingly growing need in the consumer electronic market, by considerably lowers the costs associated with establishing a home network, simplifies the installation, and extends the functionality of current solutions.

The Israeli startup is headed by Dror Jerushalmi, who was previously Director of Business Development at Saifun, VP Marketing at Emblaze Semiconductors, and VP Business Development at Tioga. Valens' founding team also includes Eyal Massad and Eyran Lida, who were part of the founding team of Mysticom, a developer of high speed communication integrated circuits. Additional team members include former Mysticom and TranSwitch employees.

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Enterprise telephony developer RADLive has raised $7.65 million from Elron and Gemini Israel

noreply@blogspirit.com (ARPU~UP) — Wed, 30 May 2007 10:20:00 +0200

Enterprise Hi-Fi telephony system developer RADLive has raised $7.65 million in a financial round jointly led by Elron and Gemini Israel. Elron, that invested approximately $3.75 million in this round, holds approximately 29% of RADLIVE's outstanding shares.

RADLIVE is engaged in the development of high definition telephony technologies and applications. With the increasing availability of wider bandwidth for telephony applications, RADLIVE is developing infrastructure and applications for High Definition Telephony, providing high quality voice for telephony calls between subscribers – in contrast to VoIP solutions like Skype and Jajah and mobile telephony.

"RADLIVE, with its highly talented technological team has the ability to provide innovative solutions to a broad spectrum of voice technology applications, with the potential to become a major player in high definition voice technology," said Yair Cohen, Vice President of Elron.

RADLive was founded in November 2005 by Menachem Cohen and Zohar & Yehuda Zisapel, the founders of RAD Data Communications. Cohen, RADLive current CEO, was previously served as CEO of Mercado Software and executive VP at Taldor Group.

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DSP Group will buy NXP's cordless & VoIP business for $270 million

noreply@blogspirit.com (ARPU~UP) — Mon, 14 May 2007 14:00:00 +0200

Fabless semiconductor company DSP Group will buy the cordless and VoIP terminals business of NXP Semiconductors for $270 million, consisting of $200 million in cash and $70 million in DSP Group's common stock.

DSO will combine NXP's cordless and VoIP chip business within DSP Group to create a market leader in the cordless and VoIP residential telephony market. The transaction can reach a total value of $345 million, as DSP Group has also agreed to a contingent cash payment of up to $75 million payable based on future revenue performance. It will provide NXP with a shareholding of approximately 12% in DSP Group.

NXP is a semiconductor company founded by Philips more than 50 years ago. Headquartered in Europe, the company has 37,000 employees working in more than 20 countries and posted sales of EUR 5 billion in 2006. NXP's Cordless & VoIP terminals business generated approximately $220 million revenue in 2006 and comprises some 200 staff based at locations around the world, most of whom will transfer to the DSP Group.

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Reuters will acquire text analytics solutions provider ClearForest

noreply@blogspirit.com (ARPU~UP) — Tue, 1 May 2007 18:50:00 +0200

Financial information company Reuters will acquire Israeli text analytics solutions provider ClearForest. The financial terms were not disclosed. Reuters plans to retain and continue to work with the existing management team and their highly skilled workforces in the US and Israel.

Reuters believes that search will be a pivotal element to the future of how financial information is sourced and consumed. As part of its drive into this space, it has created a new strategic group within Reuters and appointed former head of search for AOL, Gerry Campbell, who will oversee the integration of ClearForest and drive this innovation.

“ClearForest technology has the potential to impact the user experience across all Reuters products,” said Campbell, Reuters Global Head of Search & Strategic Development. “ClearForest has developed a superior, commercially proven technology in the field of Text Analytics that will make it immensely easier for our customers to find, understand and navigate our content.”

ClearForest’s software enable text driven business intelligence (BI) for customers such as Dow Chemical, Reuters, and Elsevier Science to turn large volumes of contextually-based information into proactive business intelligence. Corporate headquarters are in Waltham, MA with a technology center in Or-Yehuda, Israel. The firm investors include Greylock, Deutsche Bank Capital Partners, Pitango Venture Capital, Walden Israel, Booz, Allen & Hamilton, HarbourVest Partners and JP Morgan Partners.

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