Expert System Raises $27 Million in IPO Semantic technology company plans to increase US investment with new staff, San Francisco office
CHICAGO, February 18, 2014 /PRNewswire/ --
Semantic technology company Expert System today announced that it has raised over $27 million in the company's IPO on Italian stock exchange AIM Italia. The company's listing, which began trading this morning, is the largest in AIM Italia history. Expert System, which has two U.S. locations, plans to increase its U.S. investment, with the addition of sales and technical staff, and the opening of a new office in San Francisco next month.
The company's growth follows a successful 2013, which saw the opening of a Federal office in the Washington, D.C. area, and the introduction of new products such as the market's first semantic intelligence API and its end-to-end taxonomy management and categorization platform. Recent enhancements for its SharePoint integration solution and publishing platform were also made in response to market demand.
The growing reliance on information to solve business problems is placing increasing demands on software to enhance the effectiveness of search, capture weak signals in information streams and support customer interactions. Expert System is responding to these needs by increasing development of integrations and connectors that brings the power of its semantic technology to existing platforms and traditional applications.
The patented Cogito® semantic technology helps enterprises and government agencies take advantage of strategic information for useful knowledge and actionable insight by extracting meaning and context from information. The software is distinguished not only by its semantic approach, but also for its ability to strengthen analytic capabilities of existing platforms including Microsoft SharePoint, i2 Analyst's Notebook, Palantir, Google and more.
"The need to deal with huge amounts of information and especially the complexity that varies by industry increases the demand for solutions like semantics that can help companies make the most informed decisions possible," said Luca Scagliarini, CEO, Expert System USA. "It's now time to expand our global reach in the US as we expect our business there to more than double in 2014. This investment underlines our focus on helping organizations in some of the most information intensive industries get real value from their data."
Expert System is the semantic software company that specializes in helping organizations gain insight and intelligence from information. Worldwide customers include: Chevron, Eni Group, Eli Lilly, ANSA, Shell, Telecom Italia, Microsoft, Raytheon, US Department of Justice.
SOURCE Expert System