Press Release
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INFOGLIDE SOFTWARE RECEIVES $4.2 MILLION IN LATEST FINANCING
Affords Common Shareholders the Same Protection as Preferred Shareholders
AUSTIN, Texas, September 24, 2002 - Infoglide Software Corporation, the leading provider of enterprise solutions for classification, analysis, and investigation of data stored in multiple, disparate, remote databases, today announced that they have closed their latest round of financing for $4.2 million. The funding came from the company's previous investors: Conning Capital Partners, Intersouth Partners, MMC Capital, and Sanchez Capital Partners. The financing allowed all accredited stockholders to participate in the round on the same conditions as the preferred stockholders.
"Over the past year, we've advanced our technology to satisfy enterprise applications," said Michael Shultz, president and CEO of Infoglide Software. "Our ability to develop significant solutions has given our investors a lot of confidence in this company. This year, we will meet our revenue goals and gain ground in new markets."
"Investing in companies in today's market is not always an easy decision," said Gerard Vecchio, partner in Conning Capital Partners. "Infoglide Software's performance and track record with development and customer contracts has been remarkable in a very tough market. We are very pleased with the progress the company is making."
The funds will be used for product development, sales, marketing, and other general corporate purposes.
About Infoglide Software Corporation
Infoglide Software Corporation (www.infoglidesoftware.com)
is a pioneer and leader in fraud detection and alias identification
software solutions. Infoglide Software’s patented technology gives
business managers the necessary knowledge to drive business decisions
and affect business processes. The company’s similarity search technology
finds relationships and similarities in data not found by traditional
search technology. Infoglide Software’s solutions address insurance
fraud, false aliases, and security threat and risk for businesses
in the areas of insurance, financial services, government, healthcare,
transportation, and e-business. Incorporated in 1996, Infoglide Software
is headquartered in Austin, Texas.
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Infoglide®, Infoglide Software™, Infoglide Software logo, and Bladeworks™ are trademarks of Infoglide Software Corporation. All other company or product names are the registered trademarks or trademarks of their respective owners.
