LONDON, UK and CAMBRIDGE, MA --January 13, 2009 - InforSense Ltd., the leading provider of next generation business and scientific intelligence solutions, today announced that, in line with his recommendation, Professor Yike Guo, InforSense's Founder, will transition from CEO in order to focus on his new role of Chief Technology Officer and Head of Innovation where he will spearhead the future direction and application of the company's core technology offerings.
InforSense also announced today that it has secured $5 million in funding commitment from its existing investors, reinforcing their support for the company. InforSense will use the proceeds to invest in its leading technology and infrastructure, and continue to expand its offerings in the markets it currently serves.
This new commitment follows consecutive record revenue quarters resulting in year-over-year growth of approximately 30%, with the number of customers having increased in the same period.
David Bennett, who joined InforSense in January 2008 as Executive Vice President Worldwide Sales, has been promoted to be the new CEO of InforSense, effective immediately. Mr. Bennett brings more than 20 years software industry experience to the company having served in senior management positions at Definiens, SeeBeyond, and Documentum.
John O'Connell, who re-joined the board as Chairman in July of last year to lead the re-financing and CEO appointment, has agreed to continue as Executive Chairman as part of the new management structure.
"This is an exciting development period for InforSense, and I am pleased to extend my term as Executive Chairman of the Board. InforSense's most recent financial performance is a testament to their innovative technology and solutions, and the quality of their management team," said John O'Connell, InforSense Chairman of the Board. "As a Founder myself, I have been enormously impressed with Yike Guo's achievement in getting the technology and market position of InforSense to the prominence it has today. I am delighted by the opportunity to now work alongside him, David Bennett, and the rest of the management team, including our board, as we leverage our ability to provide our customers with significantly faster time to insight and return on investment than can be achieved with traditional business intelligence (BI) tools."
"Together with the commitment from our investors, I am delighted with our new Executive team, in line with my recommendation when John O'Connell re-joined the board last July," said Professor Yike Guo, Founder and CTO, InforSense. "David Bennett's strong operational and proven sales leadership experience has already made a difference to our business. Coupled with John O'Connell's ongoing input as Chairman of the Board, I believe InforSense is poised to capitalize on its renowned technical superiority."
"InforSense has set the technology standard for Business and Scientific Intelligence in a number of high growth fields including the Pharmaceutical, Healthcare, and Financial Services industries," said David Bennett, CEO, InforSense. "As a result of our strong focus on Translational Research, Personalized Medicine, and Operational Performance Analytics we are now matching our technology leadership with solid sales growth. The company will continue to focus on delivering the fastest time to insight and return on investment in the Business and Scientific Intelligence market."
The Board of Directors expressed thanks to Dr. Guo for his extraordinary achievements and leadership as InforSense's Founder and Chief Executive Officer and reaffirmed his Board position, effective January 1, 2009.
InforSense goes beyond traditional business intelligence to provide an integrated suite of agile, visual and predictive capabilities enabling organizations to gain business and scientific insights and optimize their business-critical decision-making processes, dramatically accelerating time to insight and ROI.
Leading pharmaceutical, biotechnology, consumer goods, healthcare, financial services, manufacturing and communications companies around the world rely on InforSense to quickly and easily deliver business and scientific intelligence and rapidly identify trends in data.
The company is privately held, with European headquarters in London, UK and North American headquarters in Cambridge, Massachusetts.
For more information visit www.inforsense.com.
Tracy Coffey Donahue