Expressor software announced today that it has secured $4.5 million in funding from its existing investors, Commonwealth Capital Ventures, Globespan Capital Partners and Sigma Partners, to fuel further growth and company expansion.
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Since the company launched in May 2008, expressor’s unique semantic metadata approach to data integration has proven a competitive differentiator in the Global 2000 and small-to-medium size business (SMB) markets. The company’s current customers include leading healthcare, telecommunications, financial services and database marketing organizations such as American Tower, Integrated DNA Technologies, Moffitt Cancer Center, Sybron Dental Specialties and Viverae.
expressor software was named a “Cool Vendor in Data Management and Integration” by Gartner in 2009: “Semantic integration techniques are enabling greater efficiency and reusability for services deployed for data migration, synchronization and access. They are also improving the management of business rules in data warehouses,” said Mark A. Beyer, co-author and vice president, Gartner.”
In addition to funding ongoing operations, expressor will use its new financing to advance four strategic initiatives:
* extending its sales and marketing reach into mid-market accounts, with a focus on healthcare informatics,
* completing the development of expressor 3.0, designed to deliver game-changing usability by the end of 2010,
* building out a vibrant and growing developer and business user community, and
* continuing to grow its global partner network required to support the company’s low-touch business model.
“Globespan’s due diligence for this investment involved more than 15 extensive interviews with industry analysts, customers, competitors and other market participants, and showed that the data integration market is ripe for disruption,” said Dave Fachetti, managing director, Globespan Capital Partners. “Organizations are looking for alternatives to the expensive and complex offerings from traditional data integration vendors such as Informatica and IBM on the high end, and to niche products such as Microsoft SQL Server Integration Services and Pervasive on the low end. expressor has the opportunity to expand the overall data integration market with its enterprise-class DI solution that is both affordable for mid-market organizations and designed to offer the usability required to engage business users.”
“Securing additional funding from such experienced and successful investors in today’s economic climate is a meaningful vote of confidence in expressor software’s goal to redefine data integration and in our ability to execute on that vision,” said Bob Potter, president and CEO, expressor software. “Everyone at expressor is excited and deeply committed to completing our transition to a low-touch business model by building out an active community of developers and business users, supported by premium content and a frictionless sales process that starts with the high-quality download experience expressor 3.0 will provide.”
“Sybron Dental Specialties chose the expressor semantic data integration system to improve the quality of information feeding its customer data warehouse and customer relationship management applications,” said Ron Malerstein, VP of Sales, Sybron Dental Specialties (SDS). “We were impressed by expressor’s ability to quickly integrate the wide variety of customer data we need to consolidate from our distributors around the world. expressor’s affordable pricing model also made it possible for us to get started today – with a lower total cost of ownership than any other data integration solution we considered.”
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