BA-Insight's Strong Growth in Enterprise Search Space Secures $6 Million in Series A Funding
NEW YORK, Sept. 20 /PRNewswire/ -- BA-Insight, Inc., an enterprise search software company specializing in Microsoft-based information access technology, announced today that it has secured $6 million in private equity funding led by New York-based Milestone Venture Partners. Paladin Capital Group and Osage Venture Partners also invested in the round. The New York State Common Retirement Fund participated in the financing through funds managed by Milestone Venture Partners and Paladin Capital Group.
Todd Pietri, General Partner of Milestone Venture Partners, said, "We are delighted to lead this round of funding for BA-Insight. With this capital infusion, their innovative preview and connector technologies, large customer base and growing interest from the government sector, BA-Insight now has the resources necessary to meet the growing demand for its products."
BA-Insight's flagship product Longitude optimizes Microsoft's SharePoint Search, and FAST Search for SharePoint platforms. Users can find, analyze, and act on relevant information regardless of the format or where the data resides. Longitude offers out-of-the-box SharePoint Connectors to more than 20 business applications including ERP, CRM, Messaging, and ECM. Longitude also provides a state-of-the-art user experience via a rich Silverlight SharePoint document viewer.
"BA-Insight's next-generation enterprise search technology moves it beyond traditional search," explained Sue Feldman, Vice President of Search and Discovery Technologies at IDC. "Delivering intelligent search-based applications is the next frontier for enterprise search. Having a flexible framework on which to build these can unite access to both unstructured and structured data across information silos, giving decision makers a full view of their businesses."
BA-Insight will deploy the capital raised to further develop and extend its suite of enterprise search products for SharePoint Search, expand its marketing efforts and grow its sales and support services organizations. "The market for BA-Insight technologies is expanding rapidly," explained Guy Mounier, CEO and co-founder of BA-Insight. "We have huge growth potential in U.S. government, professional services, energy and other sectors. This investment will allow us to build the organization needed to support our growth in those markets."
Read the full news release by visiting http://www.ba-insight.net/news/press.
Register for the IDC webcast "Delivering Search-Based Applications on Top of SharePoint" at 2pm ET September 23, to learn more about BA-Insight technology.