Business

Boston start-up’s pedigree attracts big venture firms

Three former colleagues from Endeca Technologies who joined forces to found the technology start-up Salsify Inc. have attracted backing from two powerful Boston venture firms, Matrix Partners and North Bridge Venture Partners.

The firms will invest $8 million into Salsify to help the company continue growing and working on its marketing automation software. It is the first round of venture capital funding for the start-up.

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Salsify is among the young companies that have spun out of Endeca Technologies, which was acquired by Oracle Corp. for $1 billion in 2011. Other spinoffs include new Boston-area start-ups Toast Inc., Infinio Systems Inc., Parallel Wireless Inc., and Kyruus Inc., among others.

“Endeca did an incredible job of attracting entrepreneurial-minded people,” said Jeremy Redburn, a founder of Salsify who previously ran product management and marketing at Endeca. Redburn and co-founder Jason Purcell both left Endeca last year September, following the Oracle acquisition. The other founder, Rob Gonzalez, left in 2010.

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Endeca was known for its engineering talent, and that pedigree helped the company attract big name investors.

“I would have written them a check much earlier,” said Michael Skok of North Bridge, a Waltham firm.

Salsify also counts itself among the growing number of tech start-ups taking root in Boston’s Financial District. Its first office was nearby in Chinatown.

Michael B. Farrell can be reached at michael.farrell@globe.com.
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