Chicago (March 22, 2006) - Initiate Systems, Inc., the leading provider of customer data integration (CDI) and enterprise master person index (EMPI) software, today announced a strategic investment from In-Q-Tel, a private venture group established by the Central Intelligence Agency (CIA) to deliver solutions to the CIA and the broader intelligence community. Initiate™ software is used today by more than 80 organizations in industries including financial services, healthcare, hospitality, retail and public sector to provide highly accurate views of data from large numbers of internal and external applications and data sources.
“Initiate Systems has unique technology that enables extremely accurate and secure information sharing and entity resolution across organizations, which is of great value to the intelligence community,” said Amit Yoran, president and CEO of In-Q-Tel. “After conducting a thorough technical and venture evaluation, we invested in Initiate Systems because their innovative software is the most accurate, high performance, scalable and non-intrusive and they have a proven track record of rapid deployment with a large number of commercial enterprises.”
Initiate Identity Hub™ software enhances data management efforts by creating the most accurate and complete views of records, individuals and entities from disparate data sources in real time and sharing that information with all participating organizations and authorized personnel automatically. The software disambiguates entity information about persons, organizations, objects and events, while minimizing false positives and negatives, which frees up investigative resources to focus on real leads and improves the capabilities of applications that are focused on identifying specific activities or changes in behavior. Multiple data governance models and flexible data and security capabilities allow the creation of an agency-wide or cross-agency solution that enables perpetual use across many applications, systems and processes.
"This investment by In-Q-Tel further validates our position as the leader in information sharing and entity identification technology," said Bill Conroy, president and CEO of Initiate Systems. "Working with In-Q-Tel allows us to provide the intelligence community with already proven technology that directly addresses national security needs. The exposure within the intelligence community that we have already experienced as a result of In-Q-Tel’s involvement has been tremendous."
In-Q-Tel led the Series E financing joined by Initiate's existing investors, Sigma Partners and Apex Partners. The financing will be used to increase research and development and expand worldwide sales, support and business operations to meet both commercial and public sector demand for Initiate Identity Hub™ software.