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Vivísimo Secures $4 Million in First Institutional Funding Round

19 March 2008 525 supporters No Comment

New Capital Will Fuel Global Expansion and Sales Initiatives

Pittsburgh, PA—Vivísimo, (vivisimo.com), a leading provider of enterprise search software and expertise, today announced the completion of its first institutional investment round of $4 million USD funded by Portland, ME based North Atlantic Capital (northatlanticcapital.com). The financing will support Vivísimo’s continued global expansion and strengthen the company’s sales and marketing efforts.

“We are excited about North Atlantic Capital’s decision to invest in our company and see this funding as a tremendous vote of confidence in our industry leadership and growth strategy,” stated Raul Valdes-Perez, chief executive officer of Vivísimo. “This investment will help accelerate our global business plan and strengthen sales and marketing support for our award-winning Velocity enterprise search platform.”

Vivísimo, organically-grown and profitable, was founded in 2000 as a spinoff of Carnegie Mellon University’s Computer Science Department with technology grants from the National Science Foundation’s Small Business Innovation Research program and funding from Innovation Works, a Pennsylvania-funded organization that is the most active seed-stage investor in Southwestern PA. Today Vivísimo has over 150 customers serving a wide range of markets and Fortune 500 companies.

“After following Raul and the Vivísimo team over the past several years we are very pleased to now have the opportunity to invest in the company. We view Vivísimo as an industry visionary and leader in the rapidly growing high-performance enterprise search market,” said Mark Morrissette, managing director, North Atlantic Capital. “Vivísimo’s organic growth since day one and proven track record of success behind its innovative Velocity enterprise search platform well suits our focus on investing in sector-leading software and tech-enabled business service companies.”




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