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Intelliseek Gains Funding From Ford, Nokia

From Press Reports

Intelliseek, maker of the BullsEye and other intelligent agent products, announced yesterday the closing of an $8.0 million Series B Preferred Stock financing.

Investors include Ford Motor Company, Nokia Venture Partners, River Cities Capital Funds, Intelliseek Chairman Mahendra Vora and other undisclosed participants.

“We have been using Intelliseek's Corporate Intelligence Service for several months and recognize the potential of Intelliseek's technology and service offerings,” said John Kwant, managing director, Venture Capital Group, Ford Motor Company. “Through our investment in Intelliseek, we are supporting an innovative technology that will give us a 360 degree view of our customers and competitors.”

Intelliseek's solutions are based on a proprietary Intelligent Agent Platform built over the last four years. Corporate Intelligence Service (CIS) is used by brand managers, public relations professionals and product researchers of Fortune 1000 enterprises to derive timely, actionable consumer and competitive intelligence by analyzing consumer word-of-mouth and other related information sources. Enterprise Search Server (ESS) is an enterprise application that can be used to automate knowledge discovery and aggregation from hundreds of disparate information sources across Intranets, Extranets and the Internet.

“Even in today's cost conscious environment, the Intelliseek value proposition is clear, which is a testimony to the company’s deep understanding of the market’s needs and requirements,” said John Gardner, Partner, Nokia Venture Partners. “We are very excited about Intelliseek’s ability to leverage its current partnerships, technology and investments into an even greater profile as a leader in the emerging intelligence marketplace.”

“Today's investment in Intelliseek by Ford, Nokia Venture Partners, River Cities Capital Funds and others is an endorsement of our solutions, our technologies, and most importantly, our people,” said Mahendra Vora, CEO and Chairman of Intelliseek. “I am very proud of the Intelliseek team for what they have achieved through very disruptive market conditions.”

Intelliseek plans to use the investment to enhance leadership with its enterprise intelligence solutions and expand its sales and marketing efforts. The company plans to add a number of positions for dynamic, experienced professionals in sales, marketing, technology and professional services. Intelliseek also plans to announce a number of large enterprise customer and partnership deals in the near future.