03:18 PM

CIA-Backed Group Invests In Data Vendor

In-Q-Tel, a venture capital organization established by the Central Intelligence Agency, has invested in Initiate Systems, which sells software to help users share data from multiple sources in real time.

In-Q-Tel, a venture capital organization established by the Central Intelligence Agency, has made "a strategic investment" in Initiate Systems Inc., which provides software for data intensive applications, according to an announcement Wednesday.

"Initiate Systems has unique technology that enables extremely accurate and secure information sharing and entity resolution across organizations, which is of great value to the intelligence community," In-Q-Tel president Amit Yoran, former chief of the Department of Homeland Security, said in a statement.

"After conducting a thorough technical and venture evaluation, we invested in Initiate Systems because their innovative software is the most accurate, high performance, scalable and non-intrusive, and they have a proven track record of rapid deployment with a large number of commercial enterprises."

Initiate's Identity Hub is designed to allow users to share data from multiple sources in real time. By using the software, investigative resources have more time to focus on real leads, because the Initiate software minimizes false positive and negatives, the company maintained.

Initiate said its software is in use by more than 80 organizations in industries ranging from financial services and healthcare to hospitality and healthcare segments.

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