Arnhem (The Netherlands), April 3rd, 2007
Human Inference, the European market leader in the field of data quality solutions, today announces that it has teamed up with GIMV (Belgium) as lead investor and Iris Capital (France) as co-lead investor on a secondary Management Buy Out. The company was bought in 2003 by the current management team together with Prime Technology Ventures and has known an excellent growth of around 100% in revenue ever since.
The importance of data quality management is growing since it defines the effectiveness of major business applications within an enterprise, such as CRM and ERP. The software of Human Inference enables its customers to work with trusted data, based on a technology platform that integrates with existing business processes and external reference data to ensure data is complete, correct, up-to-date and unique.
Human Inference profits from a healthy data quality market with an attractive growth rate of 17% - 20%. Regulatory compliance, the strive for operational excellence and the increasing need for customer data integration will drive this market for years to come.
'This new partnership with two tier 1 European investors is a tremendous opportunity for Human Inference', says Hugo Verwijs, CEO of Human Inference. 'Their active involvement and pan-European expertise will allow us to further establish our position as the European authority on data quality. I feel confident our customers will benefit from this development and our organization will contribute significantly to the further development of the market.'.
Steven Coppens, Senior Investment Manager of GIMV: 'We are very happy to take the lead in this financing. Human Inference is an exceptional company with a sound strategy. The market for data quality solutions is large and very dynamic with multiple vendors'. His colleague, Elderd Land, representing GIMV ICT in the Netherlands adds: 'We believe that Human Inference is a typical example of a very innovative software company that has been able to expand from a strong base in the Netherlands into an international recognized player. The Human Inference deal is also further evidence of the significant increase in activity in the Netherlands around innovative technology companies looking for venture capital to fulfill their growth ambitions.
Erkan Kilicaslan Partner of Iris Capital: 'Our confidence in the management and their ability to accelerate the growth of this business was key to go ahead with this investment. We are convinced that the company now has all the right ingredients to reach even greater heights.'
About Human Inference
Human Inference is market leader in the field of solutions that improve data quality and prevent data pollution. The software is based on natural language processing that uses country-specific knowledge. The solutions make integration of data from different sources possible. The software is geared to large databases and mission-critical systems to which high data quality is essential.
More than 180 companies use the Human Inference solutions in order to achieve customer intimacy, operational excellence and compliance. High quality data is crucial to ensure and maintain an integrated customer view, compliance with regulations, fraud detection and efficient search processes at call centers.
Next to the corporate office in Arnhem (The Netherlands), Human Inference has offices in the UK, Germany and Belgium as well as representatives in France, Italy, Switzerland and Austria. The Human Inference software is used by such companies as ABN AMRO, Allianz, Centraal Beheer Achmea, Center Parcs, Delta Lloyd Insurances, Dutch Railways, Dutch Tax Office Automation Center, KPN Telecom, ING, E.ON IS, O2, Schufa, Sparkassen Informatik, Telegraaf, Wegener, and TNT Express.
For more information, please visit www.humaninference.com.
About GIMV
Since its incorporation in 1980 GIMV has grown into Belgium's most important venture capital provider and company-builder. GIMV has now become a major European and international market player. Both in Belgium and abroad, GIMV invests in information and communication technology, life sciences as well as in growth financing and management buy-outs (MBOs) of companies in more traditional sectors. With its own portfolio and third party fund activities together GIMV today manages more than EUR 1.5 billion. GIMV has been listed on Euronext Brussels since 1997. Companies in the GIMV ICT portfolio include 3mensio, BAI, Clear2Pay, L&C, Liquavista, Metris, Proficient (Liveperson), Xanadu Wireless
For more information, please visit www.gimv.com.
About Iris Capital
Iris Capital is a pan-European venture and development capital company specializing in media, communications and information technology. Since its inception in the mid-eighties, the Paris-based Iris Capital team has managed investments in more than 200 companies located in 20 countries, and has generated more than 150 full exits. Iris Capital targets opportunities in high-growth technology or services companies across various investment stages, and provides active support to its portfolio companies related to its specialization and its experience. Among other ICT references Iris Capital has invested in companies such as E-Plus, QSC, Magyar Telecom, Cesky Mobile, Orange Slovensko, Altitude Telecom, Smart Telecom, Elitel or Erenis.
For more information, please visit www.iriscapital.com.
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