ClearForest (http://www.clearforest.com), a provider of knowledge-extraction products, has announced that it has signed a distribution agreement with Dow Jones Newswires to deliver Dow Jones News Service to ClearForest customers. ClearForest will provide concise alerts, complete stories, and an archive of financial news and information to customers who are subscribers to Dow Jones News Service.
Thousands of financial news items from Dow Jones News Service will be read daily, in real time, by ClearForest's applications suite. Users will receive alerts on the companies, people, and topics they're following, such as mergers, management changes, and company ratings, and then will be able to access the complete Dow Jones News Service item. Existing subscribers to Dow Jones can add the ClearForest application as either an ASP-hosted or a licensed product.
This deal with Dow Jones was preceded a few weeks earlier by the announcement that ClearForest had formed an alliance for news-distribution rights from COMTEX News Network, Inc. (http://www.comtexnews.net). COMTEX aggregates and redistributes its content, which includes subject-specific, value-added headlines and vertical market news information, to resellers in the Internet, Wall Street, and corporate markets. ClearForest customers who are COMTEX subscribers have access to these news feeds.
A company representative also said that ClearForest has just signed distribution agreements with LIVEDGAR and NewsEdge. Details on these will follow shortly.
ClearForest is a fairly recent entrant on the knowledge-extraction scene. ClearForest offers products that read vast amounts of structured and unstructured text; extract relevant information specific to users' requirements; and then provide visual, interactive, and textual executive summaries. The core of ClearForest technology is its Rulebooks. According to the company, "a Rulebook contains the set of instructions describing specific linguistic patterns relevant to a particular vertical market or horizontal discipline, and tells the knowledge-extraction engine what concepts and relationships to retrieve from the text documents."
The ClearForest client/server licensed product, ClearResearch, was first used with corporate customers for handling patent databases. The extraction technology has also been used to process other corporate internal textual content. In addition, ClearForest offers two hosted ASP model products, ClearSight and ClearEvents, which pushes events, or alerts to users, based on specific profiles. The company has vertical solutions developed for financial services, business research, and corporate intelligence, and will work with customers to develop customized rules. The company reports that it's currently developing vertical solutions for health, legal, and sports markets.
Annual enterprise subscriptions begin at about $50,000 and vary considerably according to product, number of users, and options.
Sue Feldman, an analyst at IDC (http://www.idc.com) who monitors document management and content technologies, is quite impressed with ClearForest. She puts the company's products into a new category that she calls "search catalysts"—software that sits on top of a search engine and improves the results. She sees these catalysts as the next big development in knowledge management, helping people who are drowning in information. She likes the summarization feature and the ability to forage for trends and relationships.
Other companies in the search-catalyst category include LexiQuest and Inxight. In fact, ClearForest recently arranged to incorporate Inxight's multilingual language processing software engine, LinguistX, into its software.
Starting operations in 1998 as Instinct Software, ClearForest was founded by Ronen Feldman, an expert in text mining, and Yonatan Aumann, an expert in the field of algorithm design and analysis, with a goal of "drastically reducing the time needed to obtain knowledge from information and to improve its relevance and quality." As ClearForest's name signifies, the company allows users to obtain a "clear" view of the information "forest." ClearForest's customers include Credit Suisse, General Motors, Ford, Dow Chemical, and Kodak. With its headquarters in New York, ClearForest also has research and development facilities in Or Yehuda, Israel, and an office in Mountain View, California.