Metatomix, Inc., a leading provider of semantic middleware solutions to financial services, justice, manufacturing and life sciences organizations, today announced it has received $7 million in series B funding from existing investors. The company also announced two new, industry-customized products based on Metatomix's Semantic Middleware technology. Comprised of pre-built and pre-packaged reusable components, web services, and vertical specific domain knowledge, Metatomix Semantic Industry Frameworks are an extension of Metatomix's existing Semantic Middleware offering. The products represent the industry's first complete semantic industry frameworks for supporting the creation of applications for financial services and justice organizations.
The additional funding round announced today was led by Apex Venture Partners, Battelle Ventures, Dunrath Capital and North Hill Ventures. Other participating investors included Velocity Equity Partners and Equity Resources Group amongst others. The company will use the additional funds to accelerate expansion of its Semantic Middleware, Search and Framework solutions.
"The new products we are announcing today underscore our focus on leveraging semantic technology to provide real-world business solutions," said Metatomix President and CEO Jeff Dickerson. "Our extensive experience in implementing semantic solutions for customers, combined with the ongoing support of our investors, as indicated by this latest round of funding, positions us well to continue to offer companies the benefit of semantic technology in a commercial, off-the-shelf solution."
Metatomix Semantic Industry frameworks provide pre-built and pre-packaged components for creating and running semantic technology applications customized for the financial services and integrated justice markets. Metatomix Semantic Industry frameworks consist of:
- Industry-specific content communicated through reusable and shareable
"ontologies" - precise descriptions of vertical specific processes such as
how stock trades are processed and reconciled in financial services or how
warrants are processed in Law Enforcement - based on the World Wide Web
Consortium (W3C) industry standards RDF and OWL
- Industry-specific data-sharing standards and services such as Justice
Information Exchange Model (JIEM) for the integrated justice market and pre-
configured linkage to data services such as Bloomberg and Lexis/Nexis for
the financial services market
- Industry-specific applications, such as warrant processing for the
integrated justice market and trade reconciliation for financial services
market, able to be integrated with non-semantic technology applications
Semantic technology identifies and creates connections between disparate pieces of data -- such as a company's customers, orders and products -- creating new, actionable insights. Metatomix Semantic Middleware comprises both core semantic technology capabilities as well as the complementary capabilities required to implement real-world semantic applications such as enterprise data integration services, user interface management, policies management and complex event management.
Metatomix customers such as State Street Bank and Regions Bank are reaping the benefits of semantic technology today to reduce the time and cost required to integrate applications; reduce labor costs by automating complex human tasks; improve productivity by creating reusable web services; create new applications and extend existing ones.
Metatomix's Semantic Industry framework products for financial services and justice will be available in the third quarter of 2007. Semantic Industry framework products for the life sciences and manufacturing verticals will follow in the fourth quarter of 2007. Each of the four products provides the benefit of Metatomix's real-world experience in that industry. For example, 12 of the top 25 banks in the United States utilize Metatomix technology to manage comprehensive cash management, 3,500 law enforcement, court personnel and corrections department users in the state of Florida use Metatomix technology to perform comprehensive criminal history checks, and many counties in state of Georgia use Metatomix to dynamically manage the exchange of legal information across the justice system according to the Justice Information Exchange Model (JIEM) as defined by the Bureau of Justice.
Founded in 2000, Metatomix is the leading provider of Semantic Middleware solutions to financial services, justice, manufacturing and life sciences organizations. Metatomix solutions integrate data and processes to create a common, contextual understanding across multiple enterprise systems.
Source: Metatomix
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