Palo Alto, California (September 3, 2010) – Inflection, LLC, a company focused on reshaping the public records system, today announced it has raised $30 million in Series A financing. The investment round was led by Matrix Partners and Sutter Hill Ventures. The company plans to use the funds to expand its team, invest in technology, and acquire customers for its emerging web properties.
Inflection aggregates public records and data from past and present, turning results into useable, actionable information. Founded in 2006 by brothers Brian and Matthew Monahan, Inflection currently operates two leading brands. Historical records are made available through Inflection’s popular website Archives.com, designed to make family history simple and affordable. Current records are accessed through PeopleSmart.com, the newly released, privacy-friendly people search engine (see separate release for details).
“Brian and Matthew recognized the need to integrate and transform public records, and have developed best-of-breed technology to eradicate the inefficiencies that have long plagued this industry,” said Josh Hannah, general partner at Matrix Partners who will join Inflection’s board of directors. “The team’s fierce analytical focus will enable them to disrupt the people search category.”
“Inflection is developing comprehensive service offerings in markets poised for rapid growth,” added Greg Sands, managing director, Sutter Hill Ventures, who will also join Inflection’s board of directors. “We look forward to helping the company build upon its strong foundation to capitalize on future opportunity.”
Inflection will expand the team based in its downtown Palo Alto location and its member services center in Omaha, NE. The company is actively hiring for engineering, design, marketing, operations, and product development to join the hard-working, creative, results-driven staff. As Inflection continues its growth trajectory, the company remains dedicated to its core egalitarian culture.
“We are excited to be partnering with such established firms as Matrix Partners and Sutter Hill Ventures as we innovate in spaces that have long been stifled,” said Matthew Monahan, CEO of Inflection. “This round of financing enables us to aggressively invest in existing product lines and build out the next-generation of websites that will help users safely discover information about their families and the people around them.”
About Inflection LLC
Inflection is a data and e-commerce company headquartered in the heart of Silicon Valley. The company owns and operates Archives.com and PeopleSmart.com, emerging leaders in the family history and people search markets. Inflection was founded in 2006, and is funded by tier one venture capitalists Matrix Partners and Sutter Hill Ventures. For more information, please visit www.inflection.com.
About Matrix Partners
Matrix Partners is a premier venture capital firm that has generated outstanding returns for over three decades. The firm has delivered several of the industry’s top performing funds of all time. Matrix Partners has offices in Waltham, MA; New York, NY; Palo Alto, CA; Mumbai, India; and Beijing and Shanghai, China. The firm has been fortunate to have invested in game-changing, industry-leading businesses such as Apple Computer, SanDisk, Veritas, Sycamore Networks, Phone.com, Starent Networks, JBoss and Gilt Groupe. Find out more at www.matrixpartners.com.
About Sutter Hill
Sutter Hill Ventures is a venture capital firm that finances technology-based start-up and early-stage companies that pioneer products or services in growth markets, especially those in information technology and health care. Founded in 1964, it is one of Silicon Valley’s original venture capital firms. Some of the companies backed by Sutter Hill include: Network Appliance, Legato, Data Domain, Alteon, Linear Technology, nVidia, BroadVision, Shutterfly and QuinStreet. For more information about Sutter Hill Ventures, please visit www.shv.com.