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Correlation Database Pioneer illuminate Solutions Secures €2.5 Million in Series A Funding from Madrid-based Adara Venture Partners
Investment will be used for building out the company's executive ranks; hiring added software, sales and marketing staff; and executing market expansion programs.
BARCELONA, SPAIN, 13 Mar 2006—illuminate Solutions (http://www.i-lluminate.com), pioneer of correlation database management technology for automatically designing and building data warehouses and data marts, today announced that the company has secured €2.5 million in Series A funding from Spain-focused venture capital investment firm Adara Venture Partners (www.adaravp.com).
"Investing in illuminate Solutions is a great opportunity," said Alberto Gomez, managing partner of Adara. "The market opportunity is very large, and we believe that the superior technology of Illuminate provides the company with a significant advantage. Moreover, the founders' drive and commitment to this endeavor is truly outstanding. Our challenge now lies in the execution of the strategy."
The venture funding from Adara allows illuminate to expand its European sales and marketing efforts, as well as fund more aggressive research and development efforts. Interest in the company's technology has risen sharply as organizations become aware of its unique ad hoc analysis capabilities and ability to deploy data warehouses in a fraction of the time it takes other technologies.
"We developed a market-ready product and have customers successfully deployed," said illuminate Solutions CEO and Co-founder Anton Torrents. "It’s now time to start building a team that can take this to our next level of market and product development. With the investment from Adara, we're now in a position to do it."
About Adara Venture Partners
Adara Ventures SICAR is a Luxembourg-based investment vehicle advised by general partner Adara Venture Partners and focused on early-stage investments in the information and communications technology sector. Adara Ventures's initial closing took place in July 2005, and it now operates with total capital commitments in excess of 50 million Euros. Adara's principal geographic focus is Europe, with an emphasis on companies based in Spain or other related markets where it can leverage its investing and operational experience to provide decisive support to the development of portfolio companies. Adara's portfolio of investments presently includes ventures in enterprise software, mobile platforms and applications, online services, components and semiconductors, and networking equipment.
About illuminate Solutions,
S.L.
illuminate Solutions, headquartered in Barcelona, Spain,
is the pioneer of the correlation DBMS (CDBMS) for building
data-driven data warehouses. The CDBMS is a radical departure
from how information management infrastructures are built
and accessed. By automatically creating a data-generated
schema during the raw data loading process, the need
for pre-design is virtually eliminated. A CDBMS data
warehouse is a fraction of the size of others due to
its unique value-based storage™ (VBS) model, which
indexes 100 percent of the raw data on-the-fly during
the loading process and stores each unique data value
only once. A CDBMS eliminates the trade-off between performance
and flexibility that so often frustrates IT and business
users alike, and dramatically lowers the time/cost of
data warehouse deployment and management.
illiminate’s products include
iLuminate, its CDBMS engine, and a full tool suite for
accessing the data warehouse: iCorrelate, for exploration;
and iAnalyze, for light analytics, dashboards and geographic
mapping. The company also offers the iLuminate SDK to
qualified customers free of charge.
illuminate sells its products exclusively
through IT consulting services firms and management consulting
companies in the Americas. In Europe, its products are
sold direct and through a partner network. European customers
include BBVA, Bon Preu Group, ZURICH, infojobs
and RORI among others.
For more information, visit www.i-lluminate.com.
# # #
Value-based Storage, iLuminate, iLuminate SDK, iCorrelate
and iAnalyze and are all trademarks of illuminate Solutions,
S.L. All other trademarks are owned by their respective
companies.
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