CMGI Puts $10M Into Question Technology Firm
CMGI @Ventures and Novak Biddle Venture Partners Monday injected $10 million in second-round financing into AnswerLogic, Washington, a firm that produces question-answering technology for Web sites.The investment is the second made by the CMGI @Ventures Technology Fund since its January launch. CMGI @Ventures, the funding arm of Net holding conglomerate CMGI Inc., Andover, MA, has $1 billion in the fund.
AnswerLogic technology is designed to answer questions posed by customers on e-commerce sites. The so-called "natural language" technology avoids the use of non-contextual links like those served by some search engines. The company hopes to sell the technology as a technical support product and a classroom device.
