Iteration, a new software venture founded by former Sagent CEO Ken Gardner, has raised $4 million in new working capital. Iteration, which is developing applications combining business intelligence and wireless technology, will utilize the funds from Canaan Partners, Crosspoint Venture Partners and other investors for product development.
The company is targeting enterprises looking for business intelligence platforms linked to wireless devices, pen- based computing, Web services and decentralized collaboration. “Over the next few years the business intelligence industry will see a significant uptake as more companies look at incorporating a wireless information strategy,” says Gardner.
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