SOURCE: Metatomix

May 18, 2006 15:45 ET

Metatomix, Inc. Raises $11.3 Million

New Investment to Finance Market Expansion of Integrated Justice and Integrated Financial Risk Applications

WALTHAM, MA -- (MARKET WIRE) -- May 18, 2006 -- Metatomix, Inc., the leader in semantic composite applications, today announced that it has received an equity investment of $11.3 million from new and existing Metatomix investors. The new capital will accelerate expansion of the company's applications within its focus markets of Integrated Justice and Integrated Financial Risk.

The round, led by Dunrath Capital, Inc., of Chicago, includes other new investors Battelle Ventures, L.P., of Princeton, N.J., and North Hill Ventures, L.P., of Boston. Existing investors Apex Venture Partners of Chicago, Velocity Equity Partners, LLC, of Boston, and Equity Resources Group, Inc., of Cambridge, MA, all participated in the round as well.

"Metatomix has an enormous opportunity to empower law enforcement and court officials with accurate real-time intelligence to make better and more informed decisions," said Stephen S. Beitler, senior managing director of Dunrath Capital. "With applications such as Judicial First Appearance based on the Jessica Lunsford Act, Metatomix is helping to save lives and protect the public. Our investment facilitates the faster expansion of these solutions to the rest of the country."

"Metatomix is turning existing data into real-time knowledge and actions at a fraction of the cost and time than experienced with other technologies," said Tracy Warren, general partner at Battelle Ventures. "What impressed us most was Metatomix's ability to take a very powerful technology -- semantic composite applications -- and pragmatically put it to use to solve complex problems faced by commercial enterprises and government today."

"As a financial services investor, we look for opportunities that can positively impact financial institutions," said Shamez Kanji, general partner of North Hill Ventures. "The solutions that Metatomix delivers to financial services customers are opening up new revenue opportunities, streamlining existing end-to-end processes, and ensuring compliance with components of the Patriot Act. We view a broad applicability for Metatomix technology across financial services and many other vertical markets as well."

"We are very pleased to have the support of top tier VC's like Dunrath Capital, North Hill Ventures and Battelle Ventures as well as the strong and consistent commitment from Apex Venture Partners, Velocity Equity Partners and Equity Resource Investments," said Mike Kinkead, CEO of Metatomix. "With the able assistance of our new Board, we will be using this capital to continue to build and deploy software applications that make the world a better place."

"With this new round, we have raised over $20M in the past year and are now in a position to take full advantage of the market opportunities that are unfolding before us," said Tim Cunningham, CFO of Metatomix. "With a series of major contract wins, two record quarters in a row, and a great start to 2006, this investment will enable some dramatic acceleration of our business."

About Dunrath Capital

Dunrath Capital (www.dunrath.com) is a research-based venture capital firm. Headquartered in Chicago, the Dunrath team has extensive operating and investment experience in the safety, security and defense sectors. Dunrath Capital Infrastructure Surety Fund, LP, invests in early and growth-stage companies delivering infrastructure surety products and services. Infrastructure surety is defined as those products, software and services that identify, protect, or defend against threats to modern infrastructures.

About Battelle Ventures

Battelle Ventures, L.P., (www.battelleventures.com) is an independent $150 million venture fund that invests in technology companies at many early stages of development. The fund, which is based in Princeton, N.J., and its affiliate fund, Innovation Valley Partners, which is based in Tennessee, actively seek to invest in companies in the following five key areas: life sciences; information technology; homeland security; energy; and advanced materials/nanotechnology.

Battelle Ventures enhances and adds value to its portfolio companies by leveraging the technologies and expertise of Battelle Memorial Institute and the National Laboratories it manages or co-manages for the U.S. Department of Energy.

About North Hill Ventures

North Hill Ventures, LP (www.northhillventures.com), a private equity firm established in 1999, manages $80 million in venture capital funding. North Hill invests in information technology and software companies with a specific focus on financial services and direct-to-consumer marketing businesses that require capital to continue or accelerate their growth.

North Hill Ventures is affiliated with Capital One Financial Corp. (through its wholly owned subsidiary, Oakstone Ventures, Inc.), the multi-national financial services company. With a managed asset base of more than $135 billion and a customer base of over 50 million accounts, Capital One is one of the world's leaders in financial services, risk management, direct marketing, and information management. Through its relationship with Capital One, North Hill can tap this expertise to the benefit of its portfolio company investments.

About Metatomix, Inc.

Founded in 2000, Metatomix (www.metatomix.com) is an innovative software company that has delivered the industry's first, commercialized semantic composite applications. Using a powerful combination of non-invasive, real-time integration and semantic technologies, Metatomix achieves an order of magnitude reduction in the time and cost of producing and maintaining applications. The company is dedicated to delivering business value and high customer satisfaction through the creation of new, dynamic, intelligent solutions leveraging our customers' universe of applications, data, and services.

The company's market-proven solutions have been improving and strengthening our country's war on crime in both public safety and financial institutions since 2001, streamlining end-to-end enterprise processes in banking, finance and government. For more information, visit the Metatomix Web site: www.metatomix.com.

Metatomix is a trademark of Metatomix, Inc. Other brand names or product names are trademarks or registered trademarks of their respective owners.

Contact Information

  • For additional press information contact:
    Mark Metzger
    Metzger Communications
    Phone: +1.781.648.2564
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