Mountain View, CA January 28, 2002 Contivo, a provider of automated data integration solutions, has secured $8 million in additional venture financing that the company said it would use toward business expansion.
Existing investors Voyager Capital and BA Venture Partners led this, Contivo's third round of funding. The company will use the funds to make additional investments in sales, marketing, operations and continued product development, according to a statement from the provider.
Contivo said its technology reduces the cost and time associated with the implementation and maintenance of integration projects by modeling, storing and managing metadata used for data integration. The provider argued that this approach is part of a general market trend toward integration centers of excellence.
"Companies are increasingly recognizing the need for a platform independent approach to integration," said Rory O'Driscoll, managing director at BA Venture Partners, in asserting that Contivo's modeling technology can help enterprises reduce the time and money they spend on integration implementation.
The provider's customer base includes marquee client HP, a win announced in October. Contivo released version 3.7 of its Enterprise Integration Modeling (EIM) solution in November.
Contivo's corporate investors include BEA Systems, TIBCO Software and webMethods. Venture capital investors include BA Venture Partners, Voyager Capital and MSD Capital LP.
