The company was founded in 2000 by Ren and Usha Mohan, leading innovators in the field of business intelligence (BI). Both were named inventors in multiple patents and had impressive track records in developing innovative software solutions in their prior positions at major companies such as Bank of America, Johnson Controls, and Deloitte & Touche.

Originally called Intelligenxia, the Mohans created the company and its flagship product uReveal to close a large gap in existing technology, namely the inability to analyze and create value out of massive amounts of unstructured text data with same facility as coded or structured data. In November, 2000, they moved the company to the Technology Enterprise Center (TEC), a business accelerator in Jacksonville, Florida. The Mohans' credentials and the software product attracted the attention of (then) TEC chairman, Charles Clarkson, a successful entrepreneur and investor in several high-tech companies. Mr. Clarkson later became chairman of IxReveal and performs an active management role.

In 2001, the company scored an early success when they exhibited their product and business plan at the annual Silicon Valley conference organized by The IndUS Entrepreneurs and Professionals. They won the highly competitive, annual "Best Software of Showcase" award for the company. Shortly thereafter, IxReveal also was recognized as a unique vendor by the Department of Defense, who recommended to five semi-finalist vendors that they consider IxReveal technology as part of their proposed solution. The two vendors (out of five) who showcased IxReveal became finalists and IxReveal was part of the winning proposal for a major intelligence-related project.

The Defense Department award generated significant new investment, commercial license sales, and other awards, such as "Best of Show – Database Management & Knowledge Management Category" (International Call Center Management Conference) and KMWorld’s annual product "Trend Setter" and "100 Companies that Matter in Knowledge Management" designations.

In 2006, the company unveiled a second major product, uReka!™ (initially called IxReveal Desktop Edition). UReka! transformed the search experience away from the traditional two-dimensional display of results. It automatically "reads" search results and generates "concepts" which dramatically increase relevance, speed, and insights into the results. uReka! also helped to "personalize" the search data sources, allowing generated concepts to be reused, saved, modified, and shared with others.

In the same year, IxReveal also was awarded its first patent for idea extraction from unstructured data. This was the first award for the numerous patent applications pending for proprietary technologies contained in uReveal™ (then called IxReveal Workgroup Edition). In February, 2007, the company received a patent for analyzing unstructured information through a multi-dimensional cube.

Since 2006, the privately-owned company has assembled a Board of Advisors of leading figures from the business, technology, finance, and public policy spheres. In July, 2007, IxReveal officially renamed its two major product lines uReveal and uReka!