At the end of 2006, it might have been easy to write off
The firm declined to comment on the CoreStreet funding, but In-Q-Tel typically invests between $1 million and $3 million in each deal.
In-Q-Tel has also backed visualization software maker
Last year’s successful exits may have helped the firm gain its footing. It sold electronic discovery service Stratify to Iron Mountain in November 2007 for $158 million. The company had raised $40 million from In-Q-Tel and other investors since 1999, when it was named Purple Yogi.
In-Q-Tel also sold business intelligence software maker Spotfire to Tibco Software in May for $195 million. The company had raised $40 million since 1996.
The firm also offload some of its less successful investments last year. It sold facial recognition software maker A4Vision to Bioscrypt in January for shares worth $6.7 million. The company had raised $25 million since 2001. In-Q-Tel also sold the security assets of Network Chemistry to Aruba Networks in July for an undisclosed amount. The company had raised $6 million since its 2002 inception. —Alexander Haislip