Mark Logic Secures $12 Million in Series B Funding
SAN MATEO, Calif., June 21, 2004 – Mark Logic Corporation, developer of the first enterprise-class database designed for unstructured content, has closed $12 million in Series B funding. Lehman Brothers Venture Partners led the financing round, with additional financing from previous investor Sequoia Capital. Tom Banahan, managing director of Lehman Brothers Venture Partners, will join Mark Logic's board of directors.
Mark Logic has developed a platform that enables businesses to quickly extract, analyze and synthesize their content with all the benefits of an enterprise-class database. Vast amounts of unstructured enterprise content is locked in formats like Microsoft Office and Adobe documents, in addition to e-mail and HTML, SGML and XML. Until now, this disparately structured, yet critical information is trapped in formats that do not easily fit in a traditional database model.
Mark Logic's flagship product, Content Interaction Server, brings order to the chaos of unstructured content, providing the platform for a new class of content-centric applications that rapidly extract and transform business-critical content elements from across the enterprise and the Internet. The result allows organizations to create value from existing content, enhance existing revenue streams, create new products and services, and streamline content workflow and business processes.
"Mark Logic has broken through the technology barriers by fundamentally redefining the way people interact with their business content, empowering them to reach deep inside documents and extract immense value," said Banahan. "With deep knowledge of enterprise search and database technology, the company is in the sweet spot of an emerging new market."
"The impact of this technology will reverberate across multiple industries," said Mark Kvamme, partner at Sequoia Capital and Mark Logic board member. "The ability to access, combine and manipulate information locked inside business content is vitally important for all industries, but particularly so for publishing, life sciences, government and financial services organizations."
The funding will be used to support the acceleration in customer adoption by supporting new accounts as well as ramp-up marketing, sales and engineering to address this surge in market demand.
ABOUT MARK LOGIC
Mark Logic has developed the first enterprise-class database specifically designed for disparately structured content, effectively unlocking the vast majority of enterprise information that is not easily stored in relational databases. Mark Logic Content Interaction Server was built from the ground up to enable enterprises to analyze, synthesize and enhance business content that, until now, has remained locked inside Microsoft Word documents, PDF files, E-mail, Excel spreadsheets, PowerPoint and HTML, SGML and XML documents.Content Interaction Server provides the platform for a new class of content-centric applications that extract value from existing content in order to create new products and services, streamline business processes and enhance existing revenue streams. Mark Logic has garnered a prestigious client list that includes Cedars-Sinai Medical Center, Elsevier and the U.S. Department of Defense. The Company was founded in 2001 and is headquartered in San Mateo, California. For more information, visit www.marklogic.com or call +1-650-655-2300.
About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of Network Appliance, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube and Dominic Orr and Keerti Melkote of Aruba Wireless Networks. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
Mark D. Kvamme
SEQUOIA CAPITAL
kvamme@sequoiacap.com
