Innography Lands $6.5 Million in Series A Funding Led by Austin Ventures with Hunt Ventures
Investment to Accelerate Global Presence for Emerging Intellectual Property Business Intelligence Software Company on Heels of Acquiring 25th Customer
AUSTIN, TX - August 18, 2008 - Innography, the intellectual property business intelligence company, today announced it has raised $6.5 million in Series A financing led by Austin Ventures with Hunt Ventures. In July 2007, Hunt Ventures provided Innography an initial seed investment to launch its software as a service. Operating in semi-stealth mode since then, Innography has built a base of 25 name brand customers and is now poised to accelerate sales, marketing and development efforts to establish the company as the global leader in the IP business intelligence market.
"Innography has developed a compelling product that gives organizations an insightful, strategic view of the IP landscape for capitalizing on growth and revenue opportunities," said Chris Pacitti, general partner at Austin Ventures and Innography board member. "We believe Innography is extremely well positioned for long-term success as they simultaneously enable their customers to do the very same."
"Innography delivers on an unfulfilled need by organizations to better comprehend, evaluate and leverage the true value of their IP," said Steve Coffey, managing director at Hunt Ventures and Innography board member. "As the IP landscape continues to evolve, Innography will be able to provide the critical insights and vision these organizations require to remain innovative and successful."
Innography was founded in 2006 with the awareness that the entire intellectual property ecosystem was changing – IP was becoming a primary currency for many R&D centric companies realizing they could generate millions in revenue by licensing their IP to others. The Innography business intelligence software platform was developed as the optimal solution for companies to address critical business questions pertaining to strategic management of their IP assets.
"The momentum we've been experiencing is proof that an IP paradigm shift is taking place," said Tyron Stading, founder and CTO of Innography. "Organizations are realizing intellectual property is a strategic asset versus something locked away in a file cabinet, and Innography is the key to them discovering untapped possibilities."
"The overwhelmingly positive reception we've received for our product is a testament to the development effort and market validation invested by Tyron and the entire Innography team," said Rob Lynch, CEO of Innography. "We're excited to have Austin Ventures and Hunt Ventures on board as we continue expanding our global footprint and industry leadership."
Innography enables organizations of all sizes and industries to benefit from rapid results and cost savings when utilizing Innography's intellectual property business intelligence software platform. By uniquely correlating patent data with key business information, Innography gives users valuable, real-time visual insights to:
Innography is available as a Web-enabled subscription service on a per user basis. There are no installation requirements, and full training, support and software updates are included. Additional details can be found at http://innography.com/overview.html.
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