MOUNTAIN VIEW, Calif. - September 6, 2006 - Trovix Inc., a leading provider of intelligent search technology, today announced that it has raised $13 million in its Series B financing. The financing was led by Granite Ventures, a leading early-stage technology venture capital firm based in San Francisco, and also included participation from Trovix´s existing investors, U.S. Venture Partners (USVP) and 3i.
"Trovix´s intelligent search technology is best in class and has the potential to redefine the $35 billion recruiting industry," said Standish O´Grady, Managing Director and Co-Founder of Granite Ventures. "The rapid adoption of Trovix Recruit by industry leading organizations like Palm is a testament to its ability to quickly match the most qualified candidates to open positions."
Trovix will leverage the infusion of capital to boost new product development and market expansion efforts. With the close of this round, Trovix has raised $18.25 million since inception. The company´s initial funding of $5.25 million was announced in December 2005. Since the company´s official launch in December, Trovix has signed many notable clients including Stanford University, Palm, Juniper Networks, Sanmina-SCI, and VMware.
"The marketplace for employment is inefficient, and anyone who´s looked for a job or tried to hire someone knows how much time you spend looking at job listings or resumes that just don´t fit," said Jeff Benrey, CEO and Founder of Trovix. "We´ve developed technology that solves this problem, and our clients use this to identify and hire the best candidates in their applicant pool. With our investors´ backing, we´re developing intelligent search technology that will significantly improve the way companies go about identifying and recruiting the best talent available."
About Granite Ventures
Granite Ventures has been helping early-stage technology companies build solid foundations for success since 1992. They focus their investments in two sectors where their partners have deep domain expertise, broad industry knowledge, and significant investment experience: communications and components, and software. Granite has managed over $1 billion in venture capital and has invested in more than 90 private companies. They partner with promising and successful entrepreneurs to create businesses that have a competitive edge, and help those businesses achieve category leadership. For more information, visit www.granitevc.com.
About USVP
U.S. Venture Partners (USVP) invests in a broad range of early-stage information technology companies, including those involved in wireless, IT infrastructure, semiconductors, and enterprise and technical software. Representative USVP public companies are: Sun Microsystems, SanDisk, AMCC, Verity, Check Point Software Technologies, MMC Networks, 3Dfx, Leadis, Nuance Communications, Centillium, Crescendo Communications (Cisco), Elantec (Intersil), StrataCom (Cisco), Xylan, Blue Coat Systems and Concur. For more information, visit www.usvp.com.
About 3i
3i is a world leader in private equity and venture capital. 3i focuses on Buyouts, Growth Capital and Venture Capital and invests across Europe, in the United States and in Asia Pacific. 3i´s competitive advantage comes from its international network and the strength and breadth of their relationships in business. Since its inception, 3i has invested over $32 billion worldwide and has a total staff of 750 employees operating in 14 countries. In the U.S., 3i invests in both early and late stage technology companies in the software, communications, semiconductor and healthcare sectors. For more information, visit www.3i.com.
About Trovix Inc.
Trovix Inc. is a leading provider of intelligent search technology. Its first product, Trovix Recruit, combines intelligent, personalized search technology with a full-featured applicant tracking system to help companies recruit the best talent available faster, reduce their cost-per-hire, and streamline their workflow. Trovix customers include successful and growing ventures such as Palm, Stanford University, Linksys, Juniper Networks, VMware and Rambus. Headquartered in Silicon Valley, Trovix is backed by top-tier venture capital firms including3i, Granite Ventures and USVP. For more information, visit www.trovix.com.
Trovix and Trovix Recruit are trademarks of Trovix Inc. Other product and brand names are trademarks or registered trademarks of their respective owners.
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