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Cogito Secures $11.7 Million Series B Financing; - New Funding Advances Market Leadership Role -.



PROVO, Utah, Feb. 24 /PRNewswire/ -- Cogito This article is about the philosophical magazine. For the software used in the extended version of the current Linux revision system git, see Cogito (software). For the famous philosophical saying by Descartes, see cogito ergo sum.  Inc., the pioneer in developing knowledge-centered computing applications, today announced that it has closed the first tranche of an $11.7 million Series B round. vSpring Capital vSpring Capital is an early-stage venture capital firm located in Salt Lake City, Utah. The fund currently manages approximately $200M and investing out of its second fund.  and UV Partners led the round with existing investors Canopy Group The Canopy Group is an investment firm founded by Ray Noorda, headquartered in Lindon, Utah. It serves as the parent company of various technology companies. One of its most well-known members was the SCO Group.  and Wasatch Venture also participating. The financing will be used to accelerate the adoption of Cogito's technology and services in government and enterprise markets.

"Cogito is very pleased to have closed a round of funding with all the major venture capital investors in Utah, pointing to their belief that Cogito may be the next industry changing company to emerge from this technology-rich region," said Dallas Noyes, Chairman and Founder of Cogito. "We are equally gratified grat·i·fy  
tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies
1. To please or satisfy: His achievement gratified his father. See Synonyms at please.

2.
 that leading companies, software vendors and system integrators are recognizing that Cogito's breakthrough technology may be the only viable solution to their Enterprise Information Integration and Enterprise Application Integration problems. Cogito's Knowledge Center(TM) provides an extremely powerful, scaleable and flexible framework that integrates heterogeneous data sources in order to present a unified and dynamic picture of an enterprise's collective data."

"Cogito has delivered the next generation of database technology," said Paul Ahlstrom, Managing Director at vSpring Capital. "Cogito's Knowledge Center(TM) enables database applications that were not previously possible. We anticipate great things from the Cogito team." Mr. Ahlstrom has been part of Cogito's Board since November 2004.

"We believe that Cogito's superior data management technology adds immense value to any enterprise or software vendor seeking to more rapidly deliver pertinent information to users and critical applications," said Stead Burwell, a Partner at UV Partners who now will join Cogito's Board.

"We are very pleased that vSpring and UV Partners have joined us after our initial investment in Cogito," said Bill Mustard, Canopy Group's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , and Cogito Board member. "This round of funding will help take Cogito to its next level. We look forward to Cogito's growth and its emerging leadership role with great enthusiasm."

Knowledge-centered computing greatly benefits organizations by giving them greater access to all their structured and unstructured data Data that does not reside in fixed locations. Free-form text in a word processing document is a typical example. Contrast with structured data. See free-form database.  and greater ability to analyze that data, all at a dramatically lower cost. The Cogito technology is the foundation for entirely new families of data visualization See information visualization.  and analytics systems with performance up to three orders of magnitude better than current relational and object oriented database management tools. Cogito provides a fully integrated platform that unifies the enterprise knowledge distributed across heterogeneous data sources into a single model, stores the model in a graph database, and allows advanced querying, visualization, learning, and analysis. The heart of the platform is the Knowledge Center(TM), a patented implementation of a graph database overlaid with a universal modeling framework. Cogito's Knowledge Center(TM) has been licensed to Dassault Systemes, the world leader for Product Lifecycle Management Solutions (PLM (Product Life cycle Management) A comprehensive information system that coordinates all aspects of a product from initial concept to its eventual retirement. Sometimes called the "digital backbone" of a product, it includes the requirements phase, analysis and design ) and Cogito has entered into various teaming agreements with major system integrators focused on government services.

Cogito has been advised by Laurent Ohana of New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 City-based Parkview Ventures in connection with this funding.

About Cogito

Cogito allows businesses to leverage their existing data structures and applications while capturing and utilizing both the explicit and implicit knowledge in their vast quantities of structured and unstructured data. Cogito's Knowledge Center(TM) provides a robust ontological framework in the form of a graph database with automatic document generation in which any enterprise, regardless of industry or purpose, may model their own business practices and processes and reap the benefits of maintaining their existing systems while integrating all of these disparate systems across all departments and activities. The graph database allows a dynamic schema that can be updated, changed or reorganized at a moment's notice to reflect an ever-changing business environment. For more information, please visit http://www.cogitoinc.com/

About vSpring Capital

vSpring is a traditional early-stage venture capital firm with over $180 million of committed capital under management. The firm specifically targets information technology and life sciences companies headquartered in the Intermountain West region. Its primary areas of focus include enterprise software, networking and communications, security software, Internet, mobile computing, drug discovery, drug delivery, diagnostics and medical devices, all markets where the firm has deep experience. For more information, please visit http://www.vspring.com/ .

About UV Partners

UV Partners, established in 1986, with offices in Salt Lake City and Los Angeles, is a leading early stage private equity investment group. UV Partners provides the foundation for the development of early-stage entrepreneurial concepts into tomorrow's industry-leading Information Technology and Life Science companies. For more information, please visit http://www.uvpartners.com/

About Canopy Group

Canopy Group has been categorized as a technology accelerator and a dynamic operating company operating company

A business that engages in transactions with outsiders.
. Funding and influencing emerging technologies and then providing shareable management resources across its portfolio of companies is what Canopy Group does best. Originally founded in 1995, Canopy Group continues to operate by founder Ray Noorda's vision of "co-opetition," where synergies across the portfolio are optimized at the same time that each company develops independent market success. For more information, please visit http://www.canopy.com/

CONTACT: Kyle Bowen Love of Cogito Inc., +1-801-818-3333, klove@cogitoinc.com; or Stefan Okstveit of Snapp Norris Group, +1-801-208-1100, Stefan.o@sng.com, for Cogito Inc.

Web site: http://www.vspring.com/

Web site: http://www.uvpartners.com/

Web site: http://www.canopy.com/

Web site: http://www.cogitoinc.com/
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Date:Feb 24, 2005
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