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  • Venture Capital Fund for Innography

    December 3rd, 2010 No comments

    Innography, a privately held company, based in Austin, Texas, is operating on the market since 2006. The company is developing a software of management for intellectual property. It allows its customers to use its web based intellectual property application to manage, exploit and protect their patent portfolio, being a correlation, collaboration and visualization analytics software.

    The company, founded by Tyron Stading, began its activity with a seed funding from Covera Ventures. In 2008, Covera Ventures, along with Austin Ventures made an additional investment in Series A of $6.5 million.

    In 2010, Covera Ventures and Austin Ventures offered an additional venture capital fund of $3 million in Series B. According to Innography’s CEO, Rob Lynch, this company’s funding will enable Innography to expand in 2011. The CEO also stated that the company has enough money in the bank for the current year, but the new VC fund will allow them to make additional hires in order to speed up the company’s growth in several key areas for the next 2 years.

    Investments will be made in the product and the focus will be on raising the responsiveness on it. Innography is also going to invest in the business development.

    Among the clients and partners using its services are Dialog, Perception Partners, Willis and Genimax, helping them to assist its client with the creation of some departments which focus on prioritizing intellectual property and the licensing process. Innography guides its customers that have a focus on acquisitions and mergers with technology valuation and driven on intellectual property decisions.

    Innography’s investor, Covera Ventures, also known as Hunt Ventures, is a venture capital firm investing in early-stage companies in many industries including wireless, infrastructure, software, mobility and technology services companies in USA and Canada. Covera’s investments are in the range of $1 to $5 million and besides the money that it offers, the company provides its expertise, relationships and knowledge on the industry. Since last year, the company, formerly known as Hunt Ventures, is operating as Covera Ventures.

    The VC firm’s managing director and Innography’s board member, Steve Coffey, said about Innography that it proved there is a need of the companies to better understand, evaluate and influence the value of the intellectual property.

    Innography has had a real growth since its inception and, according to its founder, the revenues quintupled in 2009 delivering correlation, collaboration and visualization platform for analytics software, enabling its client companies to manage completely, exploit and protect the portfolio that they have.

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