Software startup Exeros, which is touting a new approach to handling structured data, has clinched $12 million in a Series B funding round in an attempt to extend its business across the U.S.(See Exeros Secures $12M .)
The round, led by AllianceBernstein, also included Bay Partners and Globespan Capital Partners. It brings Exeros's total funding to $19 million since it was founded in 2002.
Exeros offers a software tool that finds the relationships between data in disparate databases. The vendor, which is up against IBM and Trillion in the "data discovery" space, is now looking to double its 40-strong workforce by mid-2007, largely in engineering and sales. "A lot of getting your name out there is getting feet on the street," explains Todd Goldman, Exeros vice president of marketing.
The startup, which does the bulk of its business in New York and the northeastern U.S., is also planning to extend its presence across North America and plans worldwide expansion next year. Goldman says Exeros currently has "dozens" of customers, largely in the financial services and healthcare sectors, although they do not want their identities revealed. "In some cases they are using [our software] to find sensitive data in their company," he explains.
Exeros's flagship product is DataMapper, a software tool that checks the relationship between different datasets on various databases and spreadsheets. According to Goldman, DataMapper identifies the hidden relationships between data such as linking sets of social security numbers or telephone numbers held on different databases. The software, he adds, can even find social security numbers that are stored within larger lines of code.