In-Q-Tel invests in Initiate Systems
- By William Welsh
- Mar 22, 2006
In-Q-Tel has made a strategic investment in Initiate Systems Inc., a company that develops secure information-sharing technology. The amount of the investment was not disclosed.
Initiate Systems of Chicago makes customer data integration and enterprise master person index software.
In-Q-Tel decided to invest in Initiate Systems because the company's software is "accurate, high-performance, scalable and non-intrusive, and they have a proven track record of rapid deployment with a large number of commercial enterprises," Amit Yoran, In-Q-Tel's president and CEO, said in a statement.
In-Q-Tel typically invests from $1 million to $3 million in its portfolio companies, a company spokeswoman said.
The private venture capital group is funded by the Central Intelligence Agency. Its mission is to identify and invest in companies developing cutting-edge technology that can serve national security interests.
William Welsh is a freelance writer covering IT and defense technology.