SOURCE: BeliefNetworks, Inc.

December 17, 2008 08:00 ET

Semantic Intelligence Provider BeliefNetworks, Inc. Secures Investment From Palmetto Investments & Exchange Group

As Many Technology Start-Ups Struggle to Survive, BeliefNetworks, Inc. Secures Additional Funding to Its Current Open Seed Round

CHARLESTON, SC--(Marketwire - December 17, 2008) - BeliefNetworks, Inc., which provides semantic intelligence and predictive analytics to Web publishers and advertising companies, today announced that it has received an investment from Palmetto Investments & Exchange Group, LLP, the Charleston-based investment firm that focuses on high-technology start-up companies across the South.

The amount of Palmetto's investment was not disclosed. To date, BeliefNetworks (www.BeliefNetworks.net) has raised $1.4 million in angel investments. Its current seed round is still open.

BeliefNetworks will use the funds to negotiate additional deals with advertising networks, media and content Web sites, as well as bridge research and business development to an expected institutional round of funding, according to company president and co-founder Lisa Maki.

"Of the many tech start-ups we've looked at recently, BeliefNetworks was clearly the best investment opportunity due to its team and execution," said Palmetto partner Matthew Johnson. "BeliefNetworks makes a search for relevant ads and content as simple as having a conversation with their computer."

BeliefNetworks recently launched a beta version of AffinityAgent Ad Recommendation Platform with Related Content technology. The platform offers an advanced, patent pending concept mapping and learning technology that provides users with related articles, video, music, and images within a Web site. It also enables publishers and bloggers to conveniently access more information pertaining to subjects of interest.

"We'll be deploying AffinityAgent on several ad networks and with Web publishers who choose to monetize their ads more effectively using our service-oriented user interface," Maki said.

About Palmetto Investments & Exchange Group

Palmetto Investments & Exchange Group, LLP is a leading private investment and venture capital firm headquartered in Charleston, SC, with offices in Atlanta and Charlotte. The firm focuses on delivering superior returns through financing high-growth early-stage companies in a wide range of industries and disciplines across the Southeast United States.

About BeliefNetworks, Inc.

Using BeliefNetworks' revolutionary, patent-pending predictive analytics and semantic intelligence capability and its ability to listen to activity on social networks, blogs, and news, small to medium-size businesses have access to enterprise-level insights without the infrastructure and expense. They can also choose to provide highly personalized information and services while preserving individual privacy and their own source-specific security and business rules.

BeliefNetworks, founded in 2007 and based in Charleston, SC, is led by an experienced team of professionals with a deep knowledge of the technology industry and early stage companies.

For more information please visit http://www.beliefnetworks.net.