Noetix Raises More Than $17M in First-Round Financing From Polaris Venture Partners and Sigma Partners; Leading Enterprise Software Firm Attracts Strong Investment Team

Business Wire, Feb 5, 2001

Business/Technology Editors

BELLEVUE, Wash. & WALTHAM, Mass.--(BUSINESS WIRE)--Feb. 5, 2001

Noetix Corp. today announced the completion of a $17.25 million round of financing jointly funded by Polaris Venture Partners and Sigma Partners.

Noetix provides enterprise software solutions for data access management and distribution of corporate information across the wireless and wired Internet. Brian Chee, a general partner with Polaris, and Bob Davoli, a general partner with Sigma, will join the Noetix board of directors.

"We are thrilled to partner with Noetix as it grows its company," said Brian Chee. "We believe the need to understand, analyze and share corporate data from the many sources of data within and outside of an enterprise is one of the biggest challenges for every company. Noetix solves this problem with a unique approach by providing a single view of all data, which can be securely distributed on multiple platforms."

Noetix addresses the critical business-to-business need to transform data into answers, resulting in accelerated business decisions, cost reduction and improved communication within and between enterprises. Noetix provides a unique metadata to make sense of complex data structures and provides a single view of all information. It brings together data transparently and distributes it to multiple presentation venues such as desktop computers, PDAs, cell phones and other mobile devices in a seamless way. Noetix has more than 800 customers, including Motorola Inc., Sony Corp., Disney, Starbucks Corp., AT&T Corp. and Yahoo! Inc.

"I am extremely pleased to have such strong venture capital firms on our team," said Paul Song, President and CEO of Noetix. "Their investment is a strong validation of our vision, business model and management team, especially in this market environment. The capital and world-class business experience of Polaris and Sigma will accelerate our ability to execute on our vision."

Noetix will use the funding to expand business operations, develop new products and build a world-class sales and marketing organization.

About Noetix

Noetix is a leading provider of enterprise software solutions for the data access management and distribution of corporate information across the wired and wireless Internet. The solutions provide a single view of global data within and between enterprises and uses metadata to mask the complexity of that data. Noetix brings together data transparently and distributes it to multiple presentation venues such as: desktop computers, PDAs, cell phones and other mobile devices in a seamless way. Noetix has more than 800 customers worldwide. The company is headquartered in Bellevue, Wash. and has an international office in London. For more information about Noetix, visit our Web site at www.noetix.com or call 425.372.2699.

About Polaris Venture Partners (www.polarisventures.com)

With more than $1.2 billion under management, Polaris Venture Partners is an early stage venture capital firm with investments across information and medical technology. Polaris takes an active lead role in its portfolio companies and practices life cycle investing. The Polaris team is committed to helping entrepreneurs grow strong businesses by offering early-stage operational and investment expertise as well as providing critical support services. The company services more than 60 Polaris-backed companies including, Akamai Technologies, Inc. (NASDAQ: AKAM), Allaire Corporation (NASDAQ: ALLR), deCODE Genetics (NASDAQ: DCGN), and Paradigm Genetics (NASDAQ: PDGM). The company has offices in Boston, Austin, Seattle and Washington, D.C.

About Sigma Partners

Sigma Partners, an early-stage high technology venture capital firm, helps entrepreneurs achieve their dreams. With more than $700 million under management, Sigma made first round investments in many of the Internet's early success stories like PSINet, Vermeer Technologies, ISS Group and Vignette as well as other industry leaders like Storage Networks, International Network Services, XIOtech, Cascade Communications and Atria Software.