ENCIRQ, a startup that sells data management software for a variety of applications, said Monday it raised $14 million in venture money to grow overseas.
Menlo Ventures led the financing with help from JPMorgan Chase, Geneva Venture Partners, and Novus Ventures.
ENCIRQ has a presence in Japan and received financing from Tokyo-based Sunbridge and Itochu Technology Ventures, the venture arm of the Japanese conglomerate.
The startup sells its data management software to information technology giants such as Kyocera and Delphi for use in their products.
Efficient data management can help improve the performance of intelligent devices.
In addition to its software, ENCIRQ has built a framework for making its programs easier to integrate into electronic devices. The startup says its framework automates some of the integration and can reduce the overall cost of product development.
Entry Barrier
“The team has developed a huge barrier to entry for any potential competitors,” said Mark Siegel of Menlo Ventures.
Mr. Siegel joined the company’s board of directors as part of Menlo Ventures’s agreement to invest.
Menlo raised one of the largest venture funds in 2005, collecting $1.2 billion in commitments from its limited-partner investors (see Menlo Raises $1.2 Billion).
Menlo Raises $1.2 BillionENCIRQ went through a financial restructuring during December 2004 and received $5.4 million from investors to focus on developing data management for the embedded systems market. It had originally raised $37 million in 2000