Authoria - News - Press Releases - Menlo Ventures Leads $10 Million Investment in Foundation Technologies
Summary
Headquartered in Waltham, Massachusetts, Foundation Technologies is the creator of Beneflex, a knowledgebase system that dynamically creates personalized answers to employee questions about their human resources policies and benefits. We feel that Tod Loofbourrows expertise in artificial intelligence and his leadership will enable Foundation Technologies to successfully apply its knowledgebase to new vertical markets." Our applications have helped HR organizations become more effective and efficient by providing call center representatives and employees with immediate, accurate, and customized answers to both simple and complex questions. " Loofbourrow continued, "The additional investment by Digital Media, Norwest and Fidelity confirm our position of strength in the knowledgebase application market." More than 2.7 million people are served by Foundation Technologies Beneflex knowledgebase including Global Fortune 2000, industry leaders such as AlliedSignal, Ford Motor Company; Sears, Roebuck and Co., and Travelers Insurance.