IN-Q-TEL MAKES STRATEGIC INVESTMENT IN INITIATE SYSTEMS
Initiate Software Enables Information Sharing Without Compromise
March 22, 2006
Initiate Systems, Inc., the leading provider of customer data integration (CDI) and enterprise master person index (EMPI) software, today announced a strategic investment from In-Q-Tel, a private venture group established by the Central Intelligence Agency (CIA) to deliver solutions to the CIA and the broader intelligence community. Initiate™ software is used today by more than 80 organizations in industries including financial services, healthcare, hospitality, retail and public sector to provide highly accurate views of data from large numbers of internal and external applications and data sources.
“Initiate Systems has unique technology that enables extremely accurate and secure information sharing and entity resolution across organizations, which is of great value to the intelligence community,” said Amit Yoran, president and CEO of In-Q-Tel. “After conducting a thorough technical and venture evaluation, we invested in Initiate Systems because their innovative software is the most accurate, high performance, scalable and non-intrusive and they have a proven track record of rapid deployment with a large number of commercial enterprises.”
Initiate Identity Hub™ software enhances data management efforts by creating the most accurate and complete views of records, individuals, and entities from disparate data sources in real time and sharing that information with all participating, organizations and authorized personnel automatically. The software disambiguates entity information about persons, organizations, objects and events, while minimizing false positives and negatives, which frees up investigative resources to focus on real leads and improves the capabilities of applications that are focused on identifying specific activities or changes in behavior. Multiple data governance models and flexible data and security capabilities allow the creation of an agency-wide or cross-agency solution that enables perpetual use across many applications, systems and processes.
“This investment by In-Q-Tel further validates our position as the leader in information sharing and entity identification technology,” said Bill Conroy, president and CEO of Initiate Systems. “Working with In-Q-Tel allows us to provide the intelligence community with already proven technology that directly addresses national security needs. The exposure within the Intelligence Community that we have already experienced as a result of In-Q-Tel’s involvement has been tremendous.”
In-Q-Tel led the Series E financing joined by existing Initiate’s investors, Sigma Partners and Apex Partners. The financing will be used to increase research and development and expand worldwide sales, support and business operations to meet both commercial and public sector demand for Initiate Identity Hub™ software.
For more information on Initiate Systems, visit www.initiatesystems.com.
About Initiate Identity Hub™ Software
Initiate Identity Hub™ software is the most accurate, scalable, rapidly implemented and widely deployed customer data integration and enterprise master person index solution. Organizations using Initiate Identity Hub™ solutions create complete, real-time views of data from all applications and data sources to more effectively manage, control, analyze and integrate customer, patient or constituent information and relationships while protecting data privacy. The software combines the ability to handle hundreds of millions of records in sub-second response times with unsurpassed matching and linking technology that identifies and resolves information routinely, even when there is duplicate, fragmented or incomplete data. Unlike alternatives, which take months or years to implement, require extensive business rules and impose intrusive changes on current systems and business processes, Initiate™ software is rapidly deployed in weeks, does not require business rules for data accuracy, and works within an organization’s current environment without disrupting systems or processes.
About Initiate Systems
Initiate Systems, Inc. is the leading provider of software for companies, organizations and government agencies that want to create the most complete, real-time views of people, households and organizations from data dispersed across multiple application systems and databases. Many organizations in the financial services, government, healthcare, hospitality and retail sectors are using Initiate™ software to deliver the right data at the right time to all critical touch points. Initiate Systems’ proven experience makes it uniquely qualified to enable strategic initiatives that allow organizations to increase revenue and efficiency, and reduce operating costs and risks.