LingoMotors Secures Third Round Financing; Creators of the Next Generation Search Technology Taps Investor Group Led by Reuters for $16 Million.Business/Technology Editors CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 31, 2000 LingoMotors, the builder of next generation web site search technology, announced today the successful completion of a new round of funding totaling close to $16 million. The funding was led by Reuters through its Greenhouse Fund. Reuters, the global information, news and technology group, is joined by high-profile investors Rosewood rosewood, popular name for the ornamental wood of several species of tropical trees, especially for the heartwood of certain leguminous trees of the genus Dalbergia of the family Leguminosae (pulse family). Brazilian rosewood, or jacaranda (D. Venture Capital Group and Brook Venture Fund. "LingoMotors has an experienced and extremely capable management team," said John Taysom, Founder and Co-CEO, Reuters Greenhouse Fund. "They have demonstrated vision and the technological know-how to us and look set to define a new standard for the next generation search technology." "This funding will enable LingoMotors to continue its growth," said John Hanselman, President and 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. of LingoMotors. "We believe the investors joining us on this round continue LingoMotors' reputation of having top-tier backing," continued Mr. Hanselman. "At a time when it has become increasingly more challenging to raise money in the dot.com arena, we were successful because we provided a proof of principle through an effective and sound business model," said Mr. Hanselman. "This new round of financing illustrates the confidence the business community has in LingoMotors' ability to develop the next generation search engine. Our technology utilizes Ordinary Language(TM), which empowers users to pose `type the way you talk' search queries that deliver superior results." LingoMotors has received prior funding from a consortium of Seed Capital Partners, a Softbank affiliate, Corning Technology Ventures Sparkventures, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , and Crimson Capital. About LingoMotors Stationed in Cambridge, Massachusetts This article is about the city of Cambridge in Massachusetts. For the English university town, see Cambridge, England. For other places, see Cambridge (disambiguation). Cambridge, Massachusetts is a city in the Greater Boston area of Massachusetts, United States. , LingoMotors builds superior website search engines enhancements using a patent-pending technology that allows questions to be asked in Ordinary Language(TM). This next generation technology uses deep, concept understanding to provide users with the best results to search engine queries. LingoMotors empowers the user to pose "type the way you talk" search questions that deliver superior results and eliminates pages of irrelevant data. The technology team, fortified fortified (fôrt  ´fīd),adj containing additives more potent than the principal ingredient. with 15 Ph.D's, a higher concentration of Ph.D's in Linguistics than Harvard or MIT MIT - Massachusetts Institute of Technology , have developed 19 proprietary, patent-pending technologies that drive next generation search capabilities. The company was founded in December, 1997 and was formally known as Lexeme (grammar) lexeme - A minimal lexical unit of a language. Lexical analysis converts strings in a language into a list of lexemes. For a programming language these word-like pieces would include keywords, identifiers, literals and punctutation. . About Reuters Inc. Reuters (about.reuters.com) the global information, news and technology group, plays a significant role in the functioning of the financial and media markets. Reuters' strategy is to make financial markets work on the Internet. Reuters is the world's largest international news and television agency with 1,957 journalists, photographers and camera operators in 185 bureaus serving 153 countries, gathering and editing news in 24 languages. Reuters' premier position is based on a reputation for speed, accuracy and impartiality im·par·tial adj. Not partial or biased; unprejudiced. See Synonyms at fair1. im  par·ti·al as well as for continuous technological innovation. Reuters supplies news and information to over 900 Internet websites. Instinet, an independently managed subsidiary of Reuters, is the world's largest electronic agency brokerage firm. It covers the equities and fixed income markets. On June 30, 2000, the Group employed 17,067 staff in 215 cities in 98 countries. About Rosewood Venture Capital Group Rosewood Venture Capital Group was established in 1986 and is funded by leading foundations, universities and families. Rosewood Venture Capital Group's Internet portfolio includes companies such as PeoplePC, Celox Networks, iMotors.com, BuyMedia.com, AlphaDog Procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. Management, Xpede.com, Viva.com, SpringStreet.com and UltimateBid.com About Brook Venture Fund Brook Venture Fund (www.brookventure.com) is a $20 million venture fund that focuses on the capital needs of early stage companies seeking expansion capital of $300,000 to $3 million. Our focus is on companies located in New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. and the Northeastern U.S. Brook Venture Fund provides equity capital as well as subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". . |
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