SAP and Intel invest $15 million in Endeca
Endeca Technologies announced Wednesday it landed a $15 million investment from industry titans Intel and SAP, signaling yet another sign that enterprise search is gaining serious traction. That investment appears a bargain, compared to the price Microsoft is paying for search company Fast Search & Transfer.
For Endeca, this $15 million investment adds to the more than $50 million the company has raised to date. Back in 2001, for example, Endeca raised a $15 million second round of funding from Ampersand Ventures, Bessemer Venture Partners and Venrock Associates. In this latest funding round, Intel alone is kicking in $10 million, the chip giant said. That leaves SAP with the remaining $5 million tab. And, of course, these corporate titans are looking to get something out of their investment.
Comments are closed.