Endeca lands $15 million in late-stage funding
Endeca Technologies Inc., provider of search technology for web sites, has received $15 million in a mezzanine round of financing. Mezzanine financing is usually late stage investment. In this case, it brings Endeca’s total funding to $45 million. The company says it will use the financing for geographical and vertical market expansion.
The round was co-led by Lehman Brothers’ Venture Partners and Granite Global Ventures and included returning investors Ampersand Ventures, Bessemer Venture Partners, Venrock Associates and DN Capital.
"New investments from respected firms like Lehman Brothers and Granite Global is a testament to our success and a validation of our strategy for the future," said Steve Papa, chairman and CEO of Endeca. "With their strong global reach these new investors will be valuable partners as Endeca continues its rapid growth in the Americas and Europe, while aggressively pursuing new opportunities in the Asia Pacific region."
Endeca has increased its worldwide staff by 50% this year. Its retailer customers include Barnes & Noble, CompUSA, 1-800-Flowers, BMG Music and Littlewoods.
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