Dot-coms can now fulfil their potential and justify stock market valuations by converting more surfers to sales. The launch of NCorp allows web-based businesses to increase sales and win customer loyalty. By giving relevant, intuitive responses to content-based queries, the company aims to banish ‘No matches found’ from the web.
NCorp’s principal product, Perspective, brings a personal interface to e-commerce. The technology acts as an online shop assistant, providing intelligent alternatives to user enquiries – allowing customers to find exactly what they’re looking for or closely related options. It achieves this by identifying complex patterns and trends in structured data. By learning as it goes, Perspective ensures that users get the most appropriate results possible.
Launched by Mike Lynch, NCorp’s vision has been endorsed by a £5 million investment from venture capitalist Apax Partners. “Despite their booming share prices, e-commerce companies are yet to find the killer application which will allow them to fulfil their potential,” said Dan Marsden, technical director at NCorp. “The problem of responding sensitively and intelligently to what the customer needs is the stumbling block for most e-commerce sites, as users well know. With Perspective we know we’ve addressed this, and created exactly what dot-coms have been waiting for.”
“Mike Lynch and his team have created world leading companies, including Autonomy and Neurascript, in which Apax is delighted to be a partner,” said Richard Wilson, director at Apax Partners. “We believe that NCorp’s technology will prove to be a fundamental piece of software infrastructure which will transform the e-commerce boom from concept into reality.”
NCorpis a spin-off from successful UK pattern recognition specialist, Neurodynamics, was founded in 1991 by a group of researchers from Cambridge University. In 1996, its text analysis division was spun off to form Autonomy Corporation, which is now valued at over £5 billion.
The company applies advanced pattern recognition technology to previously unsolved business problems, across a number of markets. Its divisions include Biometrics, which has developed finger print and 3-D facial recognition technology; Vision & Imaging, which has developed Witness, an intelligent surveillance system; and subsidiary company, Neurascript, which specialises in intelligent character recognition technology.
Apax Partners, an international private equity investment group, pursues a balanced equity portfolio strategy investing in companies at all stages of development. Apax Partners focuses on seven industry sectors – Information Technology, Internet, Telecommunications, Retail & Consumer Products, Healthcare, Media and Financial Services.