X1 Technologies Raises $10M

Pasadena-based X1 Technologies announced this morning that it has received $10M in new venture funding from U.S. Venture Partners (USVP) and Pasadena-based Idealab. The desktop search software firm said that the funds would be used to increase sales and product development initiatives for the company, increasing staffing worldwide. As part of the deal, Stuart Phillips of USVP will join the company's board. X1's desktop search solution is currently being private labeled by Yahoo as Yahoo! Desktop Search, Earthlink as its own desktop search tools, and is also sold separately as a corporate version of the software. X1 said that it's upcoming X1 Enterprise Edition will add deployment and administration tools and centralized index and search. More information »