Mark Logic Secures $15 Million in Third-Round Financing
SAN MATEO, CA — July 16, 2007 — Mark Logic® Corporation, provider of the industry’s leading XML content platform, today announced that it has closed a $15 million third-round financing, led and fully subscribed by its existing investors, Sequoia Capital and Lehman Brothers.
The capital will be used to fund the company’s continued rapid growth, to expand its presence within its existing strategic markets of media and government, and to fuel new growth initiatives including international, channels, and new vertical market development.
“It’s widely acknowledged that 80% of the world’s information is unstructured and therefore unsuitable for management by traditional database systems,” said Mark Kvamme, partner at Sequoia Capital. “We think that Mark Logic addresses a vast market opportunity and has the potential to become one of Silicon Valley’s great companies.”
“We‘re delighted by this vote of confidence from our existing investors and with their enthusiasm for the company’s strategy and execution,” said Dave Kellogg, chief executive officer of Mark Logic Corporation. “We have multiplied the company’s sales eight-fold since I joined three years ago and we are pleased to have these funds in place to finance our future growth.”
“Mark Logic combines its unique technology with a skilled team, strong market focus, and consistent execution,” said Tom Banahan, managing director of Lehman Brothers Venture Partners
ABOUT MARK LOGIC
Mark Logic Corporation is the provider of the industry's leading XML content server. Mark Logic works with providers of information products to accelerate new product creation, deliver products through multiple channels, integrate content from different sources, repurpose content into multiple products, build custom publishing systems, and mine content to find previously undiscovered information. The company holds two patents on the innovative technology in MarkLogic Server which enables companies to load, query, manipulate, and render XML content using the W3C standard XQuery language. Designed for high performance and scalability, MarkLogic Server can deliver millisecond response times against multi-terabyte contentbases. Mark Logic is privately held and backed by Sequoia Capital and Lehman Brothers. For more information, or to download a free trial copy of MarkLogic Server, go to www.marklogic.com or visit the Mark Logic CEO blog at marklogic.blogspot.com.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
