Endeca Experiences Impressive Growth in 2002; Guided NavigationSM with Advanced Search Technology Serves More Than 1.5 Million Users Daily
New Technology Products, Marquee Customers and Award Recognitions Underscore Endeca Innovation in E-commerce and Early Momentum in Enterprise Search
CAMBRIDGE, Mass., January 6, 2003 – Endeca, the only provider of Guided Navigation with advanced search solutions, today announced it made substantial business progress in 2002, its first full year of direct sales operations. Endeca secured a successful market position in B2C and B2B e-commerce and established early momentum in the fast-growing enterprise search market. Endeca now powers search and navigation for leading e-commerce sites that serve over 1.5 million users per day.
Endeca`s client roster includes two of the five largest asset management companies, five of the top 25 online retail sites and one of the largest B2B catalog sites among others. This translated to a 2000 percent increase in bookings for Endeca, which helped fund growth in its direct sales force, including 10 regional sales offices throughout the U.S. and Europe; and, substantial reinvestment in core technology research and development, which led to several new patent filings last year.
Endeca`s recently launched enterprise search product, Endeca ProFind™, has already enabled enterprise customers like IHS Engineering, the leading worldwide provider of technical standards, specifications, logistics and parts information, to dramatically increase query response times by more than 300 percent and save over two million dollars in operating expenses. Online retailers like Tower Records have seen a nearly 30 percent jump in sales as a result of implementing Endeca InFront™, the only browse-and-buy solution featuring Guided Navigation and advanced search.
"Endeca`s recent success in the search and retrieval market shows that enterprises recognize the necessity for connecting people more easily with the information they need," said Sue Feldman, Research Vice President for Content Management and Retrieval Software at IDC. "Endeca has been able to attract new clients by providing pathways for customers and seekers of information who are lost in cyberspace."
Endeca`s momentum is also evidenced through several leading industry award recognitions. In December 2002, Endeca was named to EContent Magazine`s, "EContent 100," a list of top companies to watch in the content management industry, and Endeca was named a "Best Search Engine" finalist for the upcoming 2003 Codie Awards honoring the software and digital content industry`s finest products and services sponsored by the Software and Information Industry Association (SIIA). In addition, Endeca was awarded a 2002 Web Award for "Best Directory/Search Engine Website" from the Web Marketing Association, acknowledging its work with Tower Records. Steve Papa, Endeca CEO and founder, was recognized as "Entrepreneur of the Year" by the Massachusetts Interactive Media Council (MIMC), as well as one of New England`s 10 leading technology executives by the Massachusetts Electronic Commerce Association, Inc. (Mass eComm).
"Our founding vision to improve the way people access information has come to fruition," said Steve Papa, CEO and founder of Endeca. "There is nothing more rewarding than to see our customers meet information management goals that, prior to the implementation of Endeca`s technology, were unattainable. We are pleased with the success we and our customers experienced in 2002."
Endeca announced a number of notable commerce and enterprise customers in 2002. Endeca`s commerce customers include Barnes & Noble.com (Nasdaq: BNBN), Home Shopping Network (USAI), The Spiegel Group (OTC: SPGLA) (Spiegel, Inc.), Ritz Interactive, Crate and Barrel, ChristianBook.com and Indigo Books & Music Inc. (TSX: IDG). Enterprise customers include IHS Engineering, Cabot Chemical (CBM) and Arrow Electronics (NYSE: ARW), one of the world`s largest distributors of electronic components and computer products and a leading provider of services to the electronics industry. Putnam Investments (NYSE: MMC), Old Mutual (US) Holdings and Commonwealth Financial Network joined Fidelity Investments as part of Endeca`s client-base in the financial services industry.
Endeca has further advanced its market position with the launch of the Endeca Alliance Program. This program is a consortium of leading professional services, technology and OEM providers such as Fry Inc., IHS Enterprise Solutions Group, Mindseye and IBM (NYSE: IBM). Together with these partners, Endeca can rapidly deliver solutions that address the information overload problems associated with content and catalog management, as well as with enterprise information access and retrieval.
Endeca solutions are built on innovative technology that makes it possible for the first time to offer Guided Navigation and advanced search on structured and unstructured information with high performance and low total cost of ownership, even at massive scale.
About Endeca
Endeca offers innovative advanced search and Guided NavigationSM information delivery solutions for companies who need to integrate, discover, and navigate enterprise data to solve the business problems associated with information overload. Endeca technology is already at work for leading retail, financial services and business-to-business companies like Barnes & Noble.com, Fidelity Investments, and Arrow Electronics. Endeca solutions empower users to explore and discover relevant relationships in data and find accurate and precise results with unprecedented speed. Patent-pending algorithms provide a scalable, Web-based infrastructure for data exploration, leading to highly relevant and meaningful search results every time, and this technology can be applied across a wide-range of enterprise and customer applications including Customer Relationship Management (CRM) analytics, catalogs, directories, search and portal integration. Endeca is a privately held company headquartered in Cambridge, MA and is backed by leading venture capital firms including Ampersand Ventures, Bessemer Venture Partners and Venrock Associates. For more information, please visit www.endeca.com or email us at info@endeca.com.
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Endeca, Endeca Navigation Engine, Endeca InFront, Endeca ProFind and Endeca Data Foundry are trademarks and Guided Navigation is a service mark of Endeca Technologies, Inc. All other product and service names mentioned herein are or may be registered trademarks or trademarks of their respective companies or organizations.
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