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November 26, 2012

Attivio Secures $34 million in Growth Capital

Attivio, creator of Active Intelligence Engine (AIE), has raised $34 million in new growth capital.

The round was led by new funding from Oak Investment Partners and renewed commitment from initial investors, Per-Olof Söderberg and Tenth Avenue Holdings.

The company proposes to use the infusion of growth capital to expand its sales and marketing efforts, bring AIE to new global markets, more deeply penetrate core vertical segments and accelerate product research and development.

Ifty Ahmed, Oak general partner has also joined Attivio's board of directors.

"Attivio is the only company answering both the ‘what' and ‘why' big data and analytics questions that swirl unanswered in board rooms, war rooms, data centers, support centers and cubicles around the world," said Ifty Ahmed, general partner at Oak Investment Partners, in a statement.

"We believe Attivio's approach to unified information access and its patented technology differentiators and superior security capabilities deliver previously unimaginable insight and performance,” said Ahmed.

He said that this information is key to unlocking answers for the financial, life sciences, government, manufacturing, retail and e-business markets.

Oak Investment Partners is a multi-stage venture capital firm and a lead investor in the next generation of enduring growth companies.

"Attivio is in business to solve complex problems that were previously unsolvable. We crave these types of challenges and look for them in our customers," said Ali Riaz, CEO of Attivio.

Riaz said that after five years of building a powerful technology foundation, world-class team and extensive partner network, the company is poised to take its momentum to even greater levels.

“This new round of financing supports our continued growth and broadens the network that helps bring our disruptive, game-changing technology to the global marketplace," he said.

Founded in 2007, Attivio quickly advanced from a privately backed start-up to a thriving business, driving more than 100 percent revenue growth each year.  Over the last five years, the companydeveloped and launched AIE, the first unified information access (UIA) platform for integrating, correlating and analyzing structured, unstructured and semi-structured information and won business with several of the world's largest financial institutions as well as customers faced with information management challenges across life sciences, government, military, law enforcement, telecommunications and e-business.

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Edited by Brooke Neuman
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