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Increasing Adoption of Social Knowledge Networks Fuels Growth and Expansion for Inmagic

Press Release: [November 10, 2009]

Copyright (c) 2009 Inmagic, Inc.

Abstract: Continuing to buck economic trends and cost sensitivities in the marketplace, Inmagic this year extended its lead in the markets for social knowledge management and special library solutions. In addition to the company’s ongoing growth and acquisition of major new accounts in the enterprise market, it has raised additional investment, and was named to Software Magazine’s list of the world’s 500 largest software and service providers.


WOBURN, Mass.--(BUSINESS WIRE)--Continuing to buck economic trends and cost sensitivities in the marketplace, Inmagic this year extended its lead in the markets for social knowledge management and special library solutions. In addition to the company’s ongoing growth and acquisition of major new accounts in the enterprise market, it has raised additional investment, and was named to Software Magazine’s list of the world’s 500 largest software and service providers.

"Inmagic Presto and Presto for Social Libraries continue to experience strong growth, despite a challenging economy," says Ron Matros, President and CEO of Inmagic. "Our customers are realizing genuine cost savings from Social Knowledge Networks, and are turning to Presto as a cost-effective solution for capturing, sharing, and socializing information for increased collaboration and productivity within the enterprise. Our DB/Text Library and collections management solutions continue to reflect positive momentum, as renewal and upgrade rates remain high."

Inmagic’s social knowledge management platform, Presto, has experienced 100% quarter over quarter growth from 2008 to 2009, as organizations are fast realizing the strategic benefits in areas such as knowledge retention and enhanced competitive advantage from bringing Social Knowledge Networks inside the firewall.

The company has recently added the Canadian Tax Foundation, Nisqually Indian Tribe, and the San Francisco Symphony to its roster of distinguished customers that include ACLU, City of Edmonton, Laureate Education, Maple Leaf Foods, MRA, USAID, and Wyeth Consumer Healthcare. These organizations are using Presto for a faster and more cost-effective way to integrate content with human assets, improve collaboration, and increase end-user and organizational productivity.

"In preparation for our upcoming centennial celebration in 2011, we have embarked on an aggressive effort to catalog our extensive holdings of archive materials," says Michael Skaff, CIO of the San Francisco Symphony. "Inmagic Presto is a core component of our content management strategy, and will give us the ability to manage and maintain multiple content types in both physical and digital formats. Ultimately, this will allow us to support a broad range of media innovation initiatives which will keep us a pioneer among the world’s top arts institutions."

In addition to continued customer growth, Edison Venture Fund recently provided Inmagic with a follow-on investment to support the company’s expansion. The use of proceeds will expand sales, marketing, customer support services, and product development.

Inmagic was also recognized by Software Magazine for the Software 500 Award. The award is a revenue-based ranking of the world’s largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers, and business managers involved in software and services purchasing. Inmagic’s inclusion demonstrates its viability and competitive strength as a global software provider in the emerging social knowledge management space, as it joins the company of top enterprise content management organizations including Autonomy, IBM, Microsoft, and Open Text.

About Inmagic, Inc.

Inmagic, Inc. has been the industry leader in knowledge management and library automation applications for over 25 years. Today, Inmagic is at the forefront of the move to new generation knowledge management, creating Social Knowledge Networks that combine top-down, vetted information with bottom-up, social "wisdom of the community" to address critical research and business objectives. Over 5,000 companies in 100 countries use Inmagic solutions, including Inmagic© Presto, Inmagic© Presto for Social Libraries, and the DB/Text product family, to gain unprecedented insight into customers, markets, competitors, research, intellectual properties, and more. Find out how much your organization really knows. Visit Inmagic at www.Inmagic.com.

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Publication Year:2009
Type of Material:Press Release
Language English
Issue:November 10, 2009
Publisher:Inmagic, Inc.
Company: Inmagic, Inc.
Record Number:14569
Last Update:2012-12-29 14:06:47
Date Created:2010-02-27 13:45:12