|September 15, 2003
Unicorn Raises $6 Million In Series B Financing
|Bank of America Equity Partners and JGV Lead Round; Apropos and Intel Capital Participate
|NEW YORK, NY (September 15, 2003) - Unicorn(tm) Solutions, Inc., a leading provider of enterprise information management solutions, today announced that it has closed a Series B financing round totaling $6 million. This follows the earlier $8.8 million Series A investment announced in March 2002. Further financial terms were not disclosed.
The round was led by existing investors Bank of America Equity Partners(BAEP) and JGV. Apropos and Intel Capital also participated. In a separate announcement, Unicorn disclosed that Mr. Edward McCaffrey,BAEP's Chief Investment Officer, will be joining Unicorn's Board of Directors.
Unicorn's CEO, Dr. Zvi Schreiber, commented, "Unicorn launched its product earlier this year and has already announced major Fortune 100 and Federal Government customers. We are seeing an increasing awareness by enterprises of the need for information management and of the advantages of a semantic approach. This financing will enable Unicorn to aggressively grow its sales and marketing infrastructure to support the increasing market demand for the Unicorn System(tm). Unicorn is pleased to have financing from some of the world's leading venture investors."
Commenting on the round, Edward McCaffrey, BAEP's CIO, said, "Bank of America continues to believe that Unicorn's semantic information management represents one of the best practices for Global 1000 and public sector enterprises, enabling them to increase agility and reduce IT costs. We see this as a long term investment in the leader of a new software category."
Yoni Hashkes, General Partner at JGV, added: "We are very pleased with Unicorn's growing customer traction, positioning the company as a leading vendor in the rapidly developing market for advanced enterprise information management systems."
For more information visit www.unicorn.com/press or write to email@example.com.
Unicorn (www.unicorn.com) empowers enterprises to manage disparate information resources based on business meaning - or semantics - a discipline known as Semantic Information Management (SIM). This ensures the success of data-related projects by eliminating the need for point-to-point mappings. The Unicorn System is a comprehensive platform for realizing the advantages of SIM, including a metadata repository, modeling and semantic mapping capabilities. The System actively supports and automates tasks of data management, data integration and data quality, interoperating with EAI and ETL runtime environments. Unicorn's customers achieve higher quality of information, realize change in real-time, and improve IT efficiency. Vertical libraries accelerate the adoption of SIM as a solution to specific business problems for sectors including insurance, government, and financial services. Unicorn is based in New York City.
About Bank of America Equity Partners (BAEP) Bank of America Equity Partners (BAEP) provides direct equity and related investment capital to companies at all stages - from startup to buyout. BAEP delivers specialized expertise to help portfolio companies across a spectrum of sectors realize competitive advantages and superior returns. As the primary provider of private equity at Bank of America, BAEP manages capital of US$7 billion, making it one of the largest private equity groups in the banking industry. In addition to its Chicago headquarters, the group has domestic offices in Charlotte, NC; Dallas, TX; and Foster City, CA. International offices are located in London, Milan, Frankfurt, Warsaw, Hong Kong, Singapore, Mumbai (Bombay), Tokyo, Sao Paulo and Buenos Aires.
JGV is a $200 million venture capital fund, focused on telecommunications, Internet-enabling technologies and medical devices. JGV's partners have proven track records in building and managing successful high technology enterprises. Its investors include many of the world's leading hi-tech companies and financial institutions, as well as individual executives from premier companies. JGV's investors include: America Online, NDS, Comverse, Telecom Italia, Agilent Technologies, Motorola, Conexant, Bausch & Lomb. JGV has offices in Israel and the United States.
About Intel Capital
Intel Capital, Intel's strategic investment program, focuses on making equity investments and acquisitions to grow the Internet economy, including Internet infrastructure, content and services in support of Intel's strategic interests.
Unicorn, the Unicorn logo, The Data Semantics Company, and the Unicorn System are trademarks or registered trademarks of Unicorn olutions, Inc. in the United States and/or other countries. All other names are trademarks or registered trademarks of their respective companies.