Venture capital fund Carmel Ventures, which specializes in software companies, has invested $4 million in start-up Actimize, which deals in business intelligence analysis.
This is Actimize's first round of funding. The company raised $750,000 in seed stage funding from its founders and private investors.
Actimize develops a technology that provides a solution for enterprises handling large amounts of information, who need to use that information rapidly and accurately.
The platform, Active Intelligence, connects to all existing information repositories, triggers a series of analysis actions, and delivers the action item message to the appropriate individual, team, or system within the enterprise, all in real-time. Actimize's initial clients are financial institutions.
The company was founded in 1999 by David Sosna, co-owner of Deloitte Gilon Information Systems, which specializes in data warehousing and business information analysis. Sosna serves as CEO of Actimize.
According to Carmel Ventures founder and partner Avi Zeevi, Actimize's market is currently estimated at $4 billion and is expected to grow to $10 billion by 2003.
Actimize is located in Rosh HaAyin and has a staff of 18 employees. Company founders also include Boaz Pe'er, David Govrin, and Guy Greenberg.
Published by Israel's Business Arena on May 21, 2001.