MetaMatrix, the leader in Enterprise Information Integration (EII) and metadata management announced today that it completed a $12 million round of financing led by new investor Integral Capital Partners and existing investors Artal Services and Kleiner, Perkins, Caufield & Byers. The company also announced that Joseph Chappell has joined as Chief Executive Officer to help direct its next stage of development and growth.
MetaMatrix, a privately held company, is the leading provider of Enterprise Information Integration software and is the only company that provides model-driven integration components for Service Oriented Architectures.
MetaMatrix enables organizations to turn their distributed, disparate, and often cryptic data into a powerful, comprehensive, and accessible information utility. This dramatically reduces the cost and time required to deploy new applications while increasing business flexibility by a factor of ten or more. Founded in 1998, MetaMatrix has built a leadership position in financial services, manufacturing, and government resulting in marquee clients and demand that has exceeded company expectations.
MetaMatrix has tapped Joseph Chappell to lead the company and help it achieve its full potential. Chappell brings over 20 years of software management, product management, sales, business development and marketing experience with companies such as Blue Agave Software, Oberon Software, Pansophic Systems and General Instrument. As the CEO of Oberon Software, the company grew from 12 to 120 people in three years and was acquired by OnDisplay in March 2000 for approximately $240M.
"We have been watching the EII and SOA markets for some time and MetaMatrix has distinguished itself as a leader. We are very pleased to have the opportunity to join the company and its investors," said Glen Kacher, Partner, Integral Capital Partners.
"MetaMatrix is providing a new strategic capability that provides more productivity to IT projects than I have ever seen in my lifetime," said Ray Lane, General Partner Kleiner, Perkins, Caufield & Byers. "There's real momentum building and we feel with Joe Chappell on board they are very well positioned to dominate the Service Oriented Architecture space."
"MetaMatrix is confirming every day the very large potential we saw two years ago. It has experienced tremendous growth and success since our initial investment. With Joe's arrival, we believe more than ever that all the ingredients are in place for MetaMatrix to sustain its leadership in an exploding market," said Philippe Amouyal, Managing Director, The Invus Group, LLC (exclusive investment advisor to Artal).