25 Sept 2002: Xyleme to Target Financial Services After Funding

Xyleme, a provider of native XML content technology and solutions, has completed an ¤11 million second round financing led by Deutsche Bank and joined by original investors Société Générale Asset Management and Viventures, the investing arm of Vivendi Universal. Crédit Mutuel du Nord is also participating.

The latest round will allow Xyleme to expand its sales and marketing initiatives and extend its growth to additional geographical markets, starting with the U.K. and the U.S. Additionally, Xyleme will further its product development to target new market segments and develop its distribution channels. New product offerings will be released for the Financial Services segment in the coming quarter.

Incorporated in 2000, Xyleme is a spin-off of INRIA, an XML research lab. Xyleme’s core technology is a scalable native XML repository to store, classify, index, monitor and query millions of multi-sourced XML documents.

Xyleme’s strategic intent is to capitalize on its technology to serve OEM partnerships and to feed VAR and system integrators with best-of-breed solutions.

Xyleme’s first product release was targeted towards the news and publishing industry. The company has successfully secured major contracts with marquee publishers including Le Monde Group, a leading French media group; Le Group Moniteur, a major B2B publisher; and Agence France Presse (AFP), the French global news wire agency.