Enterprise portal vendor nets strong funding

Enterprise Information Portals (EIP) vendor SageMaker has secured a second round of equity funding worth $18.5 million. GE Equity, Conning, EnerTech, Internet Capital Group (ICG), Woodbrookn and Addison Fisher combined to provide funds the company will use for business development.

"SageMaker has a very convincing business model,” said Michael Fisher, managing director, GE Equity. “The Enterprise Information Portal industry is a significant market. With its installed base and strong pipeline, SageMaker is well positioned to succeed."

"We like the position that SageMaker is in right now because they are expanding into the financial services industry," said Gerard Vecchio, a partner with Conning's Private Equity Group. "SageMaker is also the only company we identified that is able to effectively bring together both internal and external data into one portal in order to help their customers have a competitive advantage."

SageMaker describes itself as “the only global Enterprise Information Portal (EIP) vendor.” The company’s SageWave solution collects, integrates and organizes information from outside an organization and combines it with internal information and applications