Ontotext secures growth funding to expand in the United States led by Integral Venture Partners. The management team of the company shared that Integral Venture Partners (Integral), a capital investment firm, announced this week that an Integral-led investment consortium has entered into a definitive agreement with the mother company Sirma Group Holding, to acquire Ontotext as a leading global supplier of a deep-tech enterprise software, operating in the graph databases space and the Artificial Intelligence market.
Ontotext Receives Growth Funding to Expand in the US, Strengthen its Leadership in the Knowledge Graph Market and Develop Industry-specific Offerings
The Integral-led international investment consortium also includes PortfoLion Capital Partners, the venture capital and private equity arm of OTP Bank, and Carpathian Partners, a specialized technology-focused investment platform based in London. The Consortium’s investment in excess of €30 million will be structured as a combination of a capital increase and a secondary share purchase.
Evtim Chesnovski, the partner leading the transaction in Integral Venture Partners, said:
“We have been working with the company and our advisers for months to develop a strong conviction about Ontotext’s market and business model. Together with our co-investors from Portfolion and Carpathian we are looking to support the acceleration of Ontotext’s international expansion and the augmentation of its products. “
Supported by new capital, Ontotext will accelerate its international expansion and go-to-market operations, focusing on the US market. The company will invest in further development of their vertical product stack – end-to-end solutions for specific industries starting with Life Sciences and Financial Services. Last but not least, Ontotext will further strengthen its position as global leader in knowledge graph technology.
Atanas Kiryakov, CEO of Ontotext, commented:
“I am impressed by Integral’s dedication and the comprehensive approach to understand our business and analyze its potential. This investment will help us turn our excellent technology and market recognition into a great business!”
The transaction is not subject to any regulatory approvals and is expected to close by August 2022. The terms of the investment were not disclosed.
Ontotext is a global leader in enterprise knowledge graph technology and semantic database engines. Ontotext employs big knowledge graphs to enable unified data access and cognitive analytics via text mining and integration of data across multiple sources. Ontotext GraphDB engine and Ontotext Platform power business-critical systems in the biggest financial services, publishing, healthcare, pharma, manufacturing companies and public sectors.
Integral Venture Partners manages institutional private equity and growth capital and is focused on investments in the countries of central and south-eastern Europe. Integral’s fund is backed by leading international institutional investors, including the EIF, the EBRD and the IFC. Integral covers its pan-regional target market out of hubs in London, Budapest and Belgrade.
