Intelligent Results Secures $8MM in New Funding to Fuel Growth in Financial Services

Menlo Ventures and Current Investors Provide Second Round of Financing to Business Analytics Company

BELLEVUE, Wash. (June 27, 2003) – Intelligent Results, the leading provider of business analytic solutions that activate the predictive power of unstructured data, announced today that the company has received a new $8 million round of funding, led by Menlo Ventures and including existing investors, Ignition Partners and OVP Venture Partners.

"We’re delighted to welcome Menlo Ventures to the Intelligent Results team," said Kelly Pennock, president and chief technology officer at Intelligent Results. "Our customer base already includes three of the top ten banks in the nation and Menlo Ventures’ strong endorsement further underscores the momentum that Intelligent Results is building."

Intelligent Results previously closed $6 million in first round funding. The proceeds of this second round will be used for expansion of sales, marketing, and continued product development.

Company executives said the new funding from Menlo Ventures, Ignition Partners and OVP will help the company grow to meet increasing demand for its services in the financial services community.

"Intelligent Results leadership in building software that unleashes the predictive power of unstructured data is what the financial market has been demanding for years," said Arvind Purushotham of Menlo Ventures. "Now, they are finding that Intelligent Results’ solutions deliver immediate, double-digit improvement in their ability to predict critical customer behaviors. These solutions provide an immediate ROI to banks and financial institutions by reducing loan-losses and creating a positive revenue impact. This makes a very smart investment for Menlo Ventures."

Arvind Purushotham from Menlo Ventures joins the board which includes Jonathan Roberts from Ignition Partners, and Bill Miller and Dave Chen from OVP Venture Partners. Dave Chen also serves as the Chairman of the board of directors.

About Intelligent Results

Intelligent Results is the leading provider of business analytic solutions that activate the predictive power of unstructured data. Leveraged by financial services industry for predictive modeling and scoring, Intelligent Results combines traditional customer data with new unstructured attributes from call center notes and customer conversations to create predictive models with unparalleled accuracy. Intelligent Results’ solutions are deployed operationally at leading banks and financial institutions to predict customer behavior in applications such as collections, recovery and attrition. Visit www.intelligentresults.com for more information.

About Menlo Ventures

Menlo Ventures has invested in over 270 companies in a wide range of industries since its inception in 1976. The Menlo Ventures team is a group of professionals dedicated to providing the best possible service to their portfolio companies and entrepreneurs. The firm currently invests in communications, Internet infrastructure, software, semiconductor, data storage, and computer hardware companies at all stages of a private company's growth. Initial investments typically range from $5,000,000 to $10,000,000 at the start-up stage and $10,000,000 to $25,000,000 at later stages. Menlo Ventures partners and associates are actively involved on the boards of over eighty-five percent of their portfolio companies. For more information, go to www.menloventures.com

Media Contacts

Intelligent Results
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