COPPEREYE ANNOUNCES STRATEGIC INVESTMENT AND TECHNOLOGY ADVANCEMENT AGREEMENT WITH IN-Q-TEL
Agreement Adds CopperEye to Prestigious Portfolio of Leading-edge Technology Companies Working with Strategic Fund that Focuses on US Intelligence Community
October 9, 2007
CopperEye today announced a strategic investment and work development and licensing program with In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the missions of the Central Intelligence Agency and the broader U.S. Intelligence Community. With this additional investment, CopperEye will continue its expansion into the telecommunications, government, and security markets.
CopperEye is a leading provider of data retention and retrieval solutions designed to meet the requirements of organizations challenged with explosive growth in the volume of data they must manage and leverage. CopperEye’s software allows companies to store virtually unlimited amounts of data, making it instantly accessible, in a way that is far less complex and significantly less costly than previous methods. With CopperEye, organizations no longer have to move their data to less expensive and less accessible storage schemes in order to retain and leverage massive amounts of data. Now, billions of rows of data – representing months and years of transaction history – can be quickly written to inexpensive, high performing flat-files that remain immediately available for access with any SQL-based tool.
In-Q-Tel conducted a thorough evaluation before selecting CopperEye’s technology. It bases its investments on a three-pronged evaluation process. This includes rigorous vetting for technical excellence, examination of the financial soundness of the company, and the quality of the match between the commercial solution and the broadly described problem set of the U.S. Intelligence Community.
“We selected CopperEye because it offers superior technology in the area of the retention and retrieval of structured, historical data,” said Troy M. Pearsall, Executive Vice President of Technology Transfer at In-Q-Tel. “Given the volume of information gathered by organizations within the public and private sectors, it made perfect sense to invest in an innovative data access technology that will potentially meet the critical needs of the U.S. Intelligence Community. We look forward to working with CopperEye in the coming months and years”
The CopperEye solutions, including CopperEye Greenwich and CopperEye SDK, come to market at a time of dramatically increasing transaction volumes across nearly all industries. For large organizations, in both the public and private sectors, simply keeping up with the growth in data by buying more hardware will eventually consume a disproportionate share of the IT budget. CopperEye addresses this problem by fundamentally changing the value equation for capturing, storing and quickly accessing historical transaction in data. CopperEye provides companies with the rare opportunity to improve performance and meet rapidly escalating business demands, while simultaneously achieving dramatic cost savings.
“Like many large organizations, the U.S. Intelligence Community is challenged by the need to collect, store and provide access to massive amounts of transaction data. The data does not change once collected, so using relational databases to store the data is overly complex and unnecessarily expensive,” said Kate Mitchell, CEO of CopperEye. “In-Q-Tel’s investment in our technology will provide the U.S. Intelligence Community with the speed and precision of instant data access associated with a relational database, along with the cost and operational benefits of a far more scalable, less complex and less expensive flat-file system.”
About CopperEye
CopperEye is a leading provider of data retention and retrieval solutions designed to meet the requirements of organizations challenged with explosive growth in the volume of data they must manage and leverage. CopperEye’s software helps companies cost-effectively capture, quickly store, and instantly access selective transactions from tens- or hundreds-of-terabytes whether the data is seconds or decades old. This is increasingly important as data volumes more than double every year and regulations require organizations to keep data longer. In addition, CopperEye’s patented indexing technology approach delivers a quantum leap in performance in an open access format, supporting rapid data retrieval from enormous volumes of data at a fraction of the cost of traditional database and data warehouse approaches, while eliminating vendor and technology dependency.