American Century Ventures and Securitas Ventures Round Out Corticon Technologies' Series A Funding Corticon Secures $3.4 Million in First Round of Financing

Apr 30, 2001, 01:00 ET from Corticon Technologies

    REDWOOD CITY, Calif., April 30 /PRNewswire/ -- Corticon Technologies, the
 innovator of a new class of enterprise software -- Knowledge Automation
 software -- today announced the close of the company's first round of funding.
 American Century Ventures, the strategic investment group for American
 Century, and Securitas Ventures, in which Swiss Re is a limited partner, plus
 individual investors contributed to this round. This $3.4 million round will
 be used to enhance Corticon's Knowledge Automation software, build and expand
 sales and support and penetrate the financial service and insurance markets.
     "Corticon's technology has the potential to help American Century continue
 the innovation and leadership that are key to our investment management
 process and practices," said Harold Bradley, president of American Century
 Ventures.
     "Our investment in Corticon reflects our belief that Corticon's Knowledge
 Automation software could have significant applicability to the insurance
 industry," said John Shettle, senior managing director of Securitas Capital,
 LLC. "There are a myriad of opportunities within an insurance company's
 business process, where capturing intellectual capital and quickly converting
 it into automated business decisions and actions would have tremendous value."
     Corticon's Knowledge Automation software transforms enterprise-wide
 collective knowledge into rapid, dependable and consistent decisions that are
 then applied, with zero latency, against massive amounts of real-time
 information. It also frees managers from performing repetitive decision-making
 tasks by automating these tasks. Furthermore, the company's patent-pending
 algorithms automatically identify and address ambiguity and incompleteness
 found in complex, interrelated business rules. Corticon's Knowledge Automation
 software enables management by exception, which in turn, allows managers to
 focus on core competencies and improving business practices. Enterprises
 maximize the return on their most valuable assets, the intellectual capital of
 every employee, customer and partner.
     "Investments from American Century Ventures and Securitas Ventures send a
 message that clearly validates our software and the potential it holds for the
 financial service and insurance markets," said Corticon Technology President
 and Chief Executive Officer Dr. Mark Allen. "Completing this round of
 financing is an important step toward knowledge automation software gaining
 acceptance at Global 2000 companies."
 
     About American Century Ventures
     American Century Ventures is the strategic investment group for American
 Century, a premier investment manager serving nearly two million individual
 and institutional investors. American Century Ventures' mission is to make
 investments in companies that complement the strategic direction of American
 Century and whose technology or products American Century can use to improve
 its business and help its investors.
 
     About Securitas Ventures
     Securitas Ventures, L.P. is a global private equity fund dedicated to
 investing in early-stage companies that are focused on transforming the
 insurance and risk industry through innovative business models. Securitas
 Ventures is advised by Securitas Capital, LLC, a global equity investment firm
 that manages funds making investments in the insurance and related sectors.
 Securitas Capital was established in 1995 to address an accelerating trend
 toward consolidation, heightened competition and greater demand for active
 capital throughout the insurance industry. Securitas Capital has offices in
 London, New York, San Francisco and Zurich. For more information on Securitas
 Capital, L.P., go to www.securitascapital.com.
 
     About Corticon Technologies
     Corticon Technologies is the innovator of a new class of enterprise
 software-Knowledge Automation. Corticon's software enables companies to
 rapidly capture, optimize and deploy their business rules, thereby
 transforming real-time information into immediate business results. The
 company's core technology is an easy-to-use, comprehensive platform, designed
 to automate knowledge with complete logical integrity. It automatically
 identifies ambiguous and contradictory rules and alerts managers of potential
 errors and conflicting data. For the first time, business professionals can
 use Knowledge Automation software to make efficient and consistent business
 decisions across all units-in real time. Headquartered in Redwood City,
 Calif., with an engineering center in Culver City, Calif., Corticon is a
 venture-backed, privately held company. Visit http://www.corticon.com for
 additional company information.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X87025613
 
 

SOURCE Corticon Technologies
    REDWOOD CITY, Calif., April 30 /PRNewswire/ -- Corticon Technologies, the
 innovator of a new class of enterprise software -- Knowledge Automation
 software -- today announced the close of the company's first round of funding.
 American Century Ventures, the strategic investment group for American
 Century, and Securitas Ventures, in which Swiss Re is a limited partner, plus
 individual investors contributed to this round. This $3.4 million round will
 be used to enhance Corticon's Knowledge Automation software, build and expand
 sales and support and penetrate the financial service and insurance markets.
     "Corticon's technology has the potential to help American Century continue
 the innovation and leadership that are key to our investment management
 process and practices," said Harold Bradley, president of American Century
 Ventures.
     "Our investment in Corticon reflects our belief that Corticon's Knowledge
 Automation software could have significant applicability to the insurance
 industry," said John Shettle, senior managing director of Securitas Capital,
 LLC. "There are a myriad of opportunities within an insurance company's
 business process, where capturing intellectual capital and quickly converting
 it into automated business decisions and actions would have tremendous value."
     Corticon's Knowledge Automation software transforms enterprise-wide
 collective knowledge into rapid, dependable and consistent decisions that are
 then applied, with zero latency, against massive amounts of real-time
 information. It also frees managers from performing repetitive decision-making
 tasks by automating these tasks. Furthermore, the company's patent-pending
 algorithms automatically identify and address ambiguity and incompleteness
 found in complex, interrelated business rules. Corticon's Knowledge Automation
 software enables management by exception, which in turn, allows managers to
 focus on core competencies and improving business practices. Enterprises
 maximize the return on their most valuable assets, the intellectual capital of
 every employee, customer and partner.
     "Investments from American Century Ventures and Securitas Ventures send a
 message that clearly validates our software and the potential it holds for the
 financial service and insurance markets," said Corticon Technology President
 and Chief Executive Officer Dr. Mark Allen. "Completing this round of
 financing is an important step toward knowledge automation software gaining
 acceptance at Global 2000 companies."
 
     About American Century Ventures
     American Century Ventures is the strategic investment group for American
 Century, a premier investment manager serving nearly two million individual
 and institutional investors. American Century Ventures' mission is to make
 investments in companies that complement the strategic direction of American
 Century and whose technology or products American Century can use to improve
 its business and help its investors.
 
     About Securitas Ventures
     Securitas Ventures, L.P. is a global private equity fund dedicated to
 investing in early-stage companies that are focused on transforming the
 insurance and risk industry through innovative business models. Securitas
 Ventures is advised by Securitas Capital, LLC, a global equity investment firm
 that manages funds making investments in the insurance and related sectors.
 Securitas Capital was established in 1995 to address an accelerating trend
 toward consolidation, heightened competition and greater demand for active
 capital throughout the insurance industry. Securitas Capital has offices in
 London, New York, San Francisco and Zurich. For more information on Securitas
 Capital, L.P., go to www.securitascapital.com.
 
     About Corticon Technologies
     Corticon Technologies is the innovator of a new class of enterprise
 software-Knowledge Automation. Corticon's software enables companies to
 rapidly capture, optimize and deploy their business rules, thereby
 transforming real-time information into immediate business results. The
 company's core technology is an easy-to-use, comprehensive platform, designed
 to automate knowledge with complete logical integrity. It automatically
 identifies ambiguous and contradictory rules and alerts managers of potential
 errors and conflicting data. For the first time, business professionals can
 use Knowledge Automation software to make efficient and consistent business
 decisions across all units-in real time. Headquartered in Redwood City,
 Calif., with an engineering center in Culver City, Calif., Corticon is a
 venture-backed, privately held company. Visit http://www.corticon.com for
 additional company information.
 
                      MAKE YOUR OPINION COUNT - Click Here
                http://tbutton.prnewswire.com/prn/11690X87025613
 
 SOURCE  Corticon Technologies