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Initiate System, Inc.
Portfolio Company of the Year Award
for venture-backed companies
Initiate® enables organizations to confidently share critical data assets. Initiate's software helps clients in many industries, including healthcare, government, banking, high-tech, insurance, communications, manufacturing and retail, share information across multiple systems to improve the services they provide to patients, citizens and customers. The Initiate master data management (MDM) software and its experience as an information exchange leader provide complete, accurate and real-time views of data spread across multiple sources, even outside the firewall. Since being established, Initiate has analyzed billions of individual records for hundreds of customers across numerous industries.
Ron Galowich and Jeff Galowich founded Initiate in 1995. Apex invested in Initiate in 2002 and participated in three rounds of funding. Apex Venture Partners was the lead Illinois venture capital firm backing Initiate and held a board seat. Other Illinois VC firms invested in Initiate, including IVCA members Dunrath Capital, First Analysis and Sandbox Industries. At exit, Bill Conroy was (and still is) Initiate's CEO, having joined the company in 2002.
On March 1, 2010 IBM (NYSE: IBM) announced the closing of its acquisition of Initiate Systems, a privately held software company with a focus on data integrity and master data management technologies. By adding Initiate's software to its software portfolio, IBM will be better equipped to help clients draw on data from hospitals, doctors' offices and payers to create a single, trusted shareable view of millions individual patient records. The acquisition will also enhance IBM's ability to enable governments to access information from multiple systems and agencies to provide better services to citizens.
When Initiate first received venture funding it had 65 employees. At acquisition, Initiate employed 350 people; 100 of those were located in Illinois.
Ron Galowich and Jeff Galowich founded Initiate in 1995. Apex invested in Initiate in 2002 and participated in three rounds of funding. Apex Venture Partners was the lead Illinois venture capital firm backing Initiate and held a board seat. Other Illinois VC firms invested in Initiate, including IVCA members Dunrath Capital, First Analysis and Sandbox Industries. At exit, Bill Conroy was (and still is) Initiate's CEO, having joined the company in 2002.
On March 1, 2010 IBM (NYSE: IBM) announced the closing of its acquisition of Initiate Systems, a privately held software company with a focus on data integrity and master data management technologies. By adding Initiate's software to its software portfolio, IBM will be better equipped to help clients draw on data from hospitals, doctors' offices and payers to create a single, trusted shareable view of millions individual patient records. The acquisition will also enhance IBM's ability to enable governments to access information from multiple systems and agencies to provide better services to citizens.
When Initiate first received venture funding it had 65 employees. At acquisition, Initiate employed 350 people; 100 of those were located in Illinois.
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