The Danish-American software company Kapow Technologies has raised DKK 57.9m (USD 12.1m) from new and existing investors, writes Computerworld. New investors include Steamboat Ventures, a venture capital firm affiliated with the Walt Disney Company, and Morgan Stanley's Strategic Investments Group. Existing investors Kennet Partners and NorthCap Partners also participated in the financing round.
Stefan Andreasen, the founder of Kapow Technologies told net news service Rapidus that the company is considering to use some of the money on acquisitions. In a press release, Kapow writes: "The new funds will enable the company to significantly enhance its software as a service (SaaS) platform and expand its global sales operations in the media, financial services, manufacturing, transportation and government sectors where the company has established a leadership position."
Kapow Technologies was founded in Denmark in 1998 and was previously headquartered in Hørsholm north of Copenhagen. In 2005, Kapow moved its headquarters to Palo Alto in California to gain better access to the US market and investors. The company specialises in web integration and mashups* for enterprise infrastructure software.
Rapidus also reports that Stefan Andreasen has great expectations of a new business area, "sentimental search", which enables users to see what has been written about a person being searched for on the internet.
* A web application that combines data from more than one source into a single integrated tool. One example is the use of cartographic data from Google Maps to add location information to real-estate data, thereby creating a new and distinct web service that was not originally provided by either source – Ed.