November 18, 2004 - CAMBRIDGE, Mass. - Eliyon Technologies Corporation, (www.eliyon.com), a next generation business search engine, announced today that Vulcan Capital, the investment group of Paul G. Allen, invested in the company, joining Eliyon stakeholders Venrock Associates, Flagship Ventures, Ascent Venture Partners and Commonwealth Capital. The Vulcan investment concludes the investment round that began with Venrock Associates, as announced in July 2004. Eliyon has generated positive cash flow for eight consecutive quarters, and in a separate announcement today, Eliyon reported nearly 210% growth in sales for the same period in 2003, and the addition of more than 130 new customers, including Barron's, Daimler Chrysler, PepsiAmericas, Pfizer Pharmaceuticals, Warner Bros. Entertainment, and more.
Eliyon is the first commercial product that utilizes natural language processing technology to extract business-specific information from millions of Web sites. It then combines dozens of disparate pieces of information, which were extracted from different sites, into comprehensive profiles of individual business professionals and companies. Eliyon's proprietary technology automates a process that traditionally was the domain of human editors, and is done on a scale that would be virtually impossible using manual processes. Customers use Eliyon for diverse business activities such as recruiting top talent, identifying sales opportunities, competitive research and business intelligence.
"We believe Eliyon's data aggregation technology is poised to usher in a new era of information discovery," said Steve Hall, director at Vulcan Capital. "By intelligently connecting data from disparate and unstructured sources, Eliyon is assembling a structured, "meta" level of Web intelligence, enabling search to occur in a manner not previously achievable."
"It is exciting to welcome Vulcan as an Eliyon investor at this important stage of our accelerating growth," said Jonathan Stern, founder and CEO of Eliyon Technologies. "We have chosen to partner with investors that bring true value to our business. Vulcan brings thought leadership and vision to the area of next-generation search and will help drive our strategy as we continue to expand into new market applications."
About Vulcan Capital
Vulcan Capital is the private investment group of Vulcan Inc., the project and investment management company founded by Paul G. Allen in 1986 to manage his personal and professional endeavors. Vulcan Capital oversees a multibillion-dollar portfolio across diverse industry sectors and investment asset classes. Its investments range from early stage venture investments to public equity value investing, leveraged buyouts, acquisitions, and distressed situations. Visit Vulcan Capital online at capital.vulcan.com.
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Jani Spede Jani Spede Public Relations, LLC