VENTURE CAPITAL – Categoric is imperative for Nokia

Categoric Software Corp in early June announced it had raised a $13.8 million (EURO14.73 million) third-round of funding led by Nokia Ventures. Categoric supplies e-business alerting infrastructure technology to wireline and wireless devices. Using Categoric’s technology, e-businesses can deliver personalised information to customers, partners or staff in real-time via SMS, WAP, pagers or e-mail.

Categoric, set up in the UK in 1996, was the first company to offer an architecture for building alerts on top of any existing IT architecture. Focusing initially on transportation organisations, Categoric now has over 40 customers in the manufacturing, transport and logistics sectors using alerts to enhance their supply chain processing and customer relations. The company now has dual headquarters in London and Virginia and also operates a German office. It has established alliances with groups including Telia Mobile, Logica, RedKlay and Wincor Nixdorf.

T-Venture, the corporate venturing subsidiary of Deutsche Telekom, and BancBoston Capital invested alongside Nokia Ventures in the recent funding round; Nokia invested $5 million, with T-Venture and BancBoston putting in $4.8 million and $4 million, respectively. Categoric had previously raised capital from groups including Alta Berkeley, GIMV, Bank J. Vontobel and Private Equity Co-Invest.

Nokia Ventures partner Martti Malka describes event detection and mobile alert messaging as “one of the core technologies in the future Mobile Information Society”. Categoric CEO and cofounder Thorgeir Einarsson says Categoric will use the current round of funding “to boost its sales and marketing organisation, extend its partner programmes and develop its leading technology”.