Initiate Systems, Inc., a major player in master data management (MDM) solutions, has completed a $26 million new round of financing.
 
Paladin Capital Group led the round, which also included participation from new investors Dunrath Capital, EMC (News - Alert) Corporation and Informatica Corporation as well as existing investors, Sigma Partners, Apex Venture Partners and First Analysis Group.
 
“Investors have been very enthusiastic about participating in this round of funding,” said Bill Conroy, Initiate’s president and CEO, in a statement. “The influence of these investors is a strategic advantage, as we capitalize on new opportunities and extend our leadership in MDM. This funding empowers us in our mission: Helping customers unlock the value of their data assets.”
 
Initiate solutions are used around the world in a wide range of industries, including banking, hospitality, insurance, retail, retail pharmacy and healthcare organizations, as well as by state, provincial and federal government agencies.
 
With Initiate software, organizations can identify data related to a single person, place, or thing – and securely share that information – using a highly-accurate, scalable, and rapidly-deployed solution.
 
“Initiate has strong leadership and high-performing solutions that address critical requirements for data accuracy and data integration,” said Niloo Howe, managing director, Paladin Capital Group. “We are confident about Initiate’s prospects for continued success and look forward to supporting the company as it continues to grow.”
 
Paladin Capital Group is a premier private equity firm that provides expansion capital for growing companies. Paladin has more than $800 million under management and operates three funds with more than thirty portfolio companies.
 
Paladin's Fund III invests in enterprises whose principal business centers on products and services that address homeland security issues and needs.
 
“This fundraising strengthens our balance sheet and allows us to continue expanding our market position while building a predictable, profitable business,” said Dan Kossmann, chief financial officer, Initiate Systems (News - Alert), Inc.
 
Initiate Systems, Inc. enables organizations to strategically leverage and share critical data assets. Its master data management (MDM) software and experience as an information exchange leader provide organizations with complete, accurate and real-time views of data spread across multiple systems or databases, even outside the firewall. This allows companies to unlock the value of their data assets for competitive advantages or operational improvements.
 
Anil Sharma is a contributing editor for TMCnet. To read more of Anil’s articles, please visit his columnist page.
 


Back to Communications Solutions