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Enterprise Search: More SAP Money to Seed Innovation
In an earlier blog we talked about how SAP Ventures made a $9 million dollar seed investment in Alfresco. SAP Ventures is also funding enterprise search company Endeca to the tune of $5 million. Intel Capital also ponied up another $10 million for Endeca.
Endeca develops enterprise search and business intelligence software. This recent cash infusion follows an earlier $15 million round of funding led by Lehman Brothers and Granite Global Ventures. Endeca customers include Boeing, Ford and John Deere. Endeca has 500+ customers and revenues exceeding $100 million.
Bruce Richardson of AMR Research characterized Endeca by saying “What makes Endeca unique is its ability to provide visibility for everyone that needs it, whether for finding a part or selling to a customer or prospect…It could be years before Endeca faces products comparable to its own.”
CMS Watch points out the irony of investments like SAP’s. Clearly, to invest in competing technology, SAP must feel their own product NetWeaver Enterprise Search is in some way deficient. In the same way, despite the enterprise search capability built in MOSS 2007, Microsoft saw the need to buy FAST for $1.2 billion.
