Spotlight

HNC Software

HNC Software
HNC Software: A Patient Investor in an Early Concept

HNC Software Sector: Software & Services
Stage: Early
Location: San Diego, CA

Situation

  • Battery conducted extensive research into the Artificial Intelligence sector, finding the industry pioneer:  Robert Hecht-Nielsen at UCSD
  • This pioneering academic had a breakthrough idea: apply neural network software for data analytics in banking, insurance and retail
  • Battery provided sole start-up financing and impetus to form the business

The Battery Difference

  • Recruited executive management team and Board of Directors
  • Raised four rounds of VC and strategic partner financing
  • Advanced the technology with patent fortress developed internally with funding from government agencies
  • Led the business strategy, including diversification into retail vertical and identification of large and important credit card fraud market

Result

  • Being a patient investor paid off
  • 4 years to IPO
  • 11 years on Board of Directors
  • Acquired by Fair Isaac for $810M, now part of $2.4B Company