SOURCE: Network Inference

March 01, 2005 08:00 ET

Network Inference Crowns Outstanding First Year With Seven-Figure Second Half

2004 Highlighted by Dramatic Sales Growth, Additional Investment, and Industry Adoption of Core Semantic Standards

CARLSBAD, CA -- (MARKET WIRE) -- March 1, 2005 -- Network Inference Inc., the leader in standards-based adaptive software infrastructure, today announced outstanding business results for the second half of 2004, crowning an exceptional first year of US-based operations. Led by accelerating sales and customer acquisitions with quarter-over-quarter revenue growth, the company exceeded all 2004 business objectives.

2004 highlights included growth of the customer base to over 25, including enterprise sales to Fortune 500 accounts. The company established highly effective distribution channels, selling its Cerebra® Suite to several leading systems integrators, resulting in major project sales to federal government and commercial organizations. New product releases, reflecting the needs of real-world semantic applications, were well received and rapidly deployed by existing and new customers.

Expressing satisfaction with the company's achievements, John Kelly, CEO, said, "2004 has provided us with an excellent foundation on which to build for 2005. We will continue to scale our business to reach and serve an ever-growing customer base, and launch exciting new products. Our efforts will drive enterprise adoption and increase the total value and overall ownership of semantic technologies."

Under the leadership of Kelly, a former Oracle executive, 2004 began with Network Inference, Inc. setting up operational headquarters in southern California while securing an $8.1million funding round co-led by Palomar Ventures and BlueRun Ventures.

Jim Gauer, General Partner of Palomar Ventures, said of Network Inference, "It is rare to find, at this stage in a company's development, such consistent growth in revenues, customers and partners. The depth of the management team and their continued commitment to deliver is a testament to the efforts led by John. We are delighted with the speed with which the company has taken promising technology from the labs and applied it to help customers realize successful commercial applications."

The company's efforts to drive semantic standards were rewarded when the World Wide Web Consortium (W3C) formally approved the Web Ontology Language (OWL) and Resource Description Framework (RDF) in February. Network Inference was active in driving new standards through the W3C, IEEE and OASIS, and their technologists were in demand as invited experts across a range of events. Technology V-P , Jeff Pollock, published a well-received book, "Adaptive Information," (Wiley).

Looking toward 2005, the company plans to continue its outstanding sales growth, accelerate partnership programs and release new products, while continuing to enhance its existing core products.

About Network Inference

Network Inference is the leading provider of standards-based, enterprise-ready, semantic technologies. Network Inference solutions offer Global 2000 organizations lower maintenance costs and project risk, new integration and application capabilities, and provide a standards-driven pragmatic roadmap towards the model-driven Adaptive Enterprise. The Cerebra® Suite is an enterprise-strength, SOA-ready integration and application environment based on OWL, RDF, XML, SOAP, and WSDL standards. Corporate offices include Carlsbad, Menlo Park, Boston, and Manchester, UK. For more information, visit http://www.networkinference.com.

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