Imediation Raises $52.5 Million in Private Financing; Deutsche Bank eVentures, Government of Singapore Investment Corporation and LCF Rothschild Group Join Global Investor List

Business Wire, Sept 11, 2000

Business Editors/High-Tech Writers

SAN FRANCISCO & PARIS--(BUSINESS WIRE)--Sept. 11, 2000

iMediation, a global provider of e-commerce solutions that enable collaborative selling, today announced the completion of its third round of financing, which raised $52.5 million.

Three new investors participated in the offering, including Deutsche Bank eVentures, GIC Special Investments (GIC SI), the private equity investment arm of the Government of Singapore Investment Corporation and Compagnie Financiere Saint Honore, the holding company for the Benjamin de Rothschild Group in France. The investment by these three firms accounted for over 50 percent of the total round. Since the company's founding in May 1998, iMediation has raised a total of $88.5 million in private financing, including the $52.5 million in funding announced today.

Other strategic investors participating in the round, some of which invested at considerably more than their "pro-rata" level, include existing investors Apax Partners, Bridgemont, Europ@Web, GE Equity, Intel Capital, Morgan Stanley Dean Witter, Reuters Venture Capital and Viventures.

"The significant level of continued investor interest in iMediation is an important endorsement of our corporate strategy, technology and geographically balanced expansion," said Didier Benchimol, iMediation's Chairman and Chief Executive Officer. "We intend to use this financing to grow our customer base in the U.S. and Europe, as well as to address the market opportunities in Asia and the Pacific Rim."

"The capital commitments generated from this private offering will enable us to firmly establish our first mover position in collaborative selling while expanding our product offerings," said Bill Miller, President and Chief Operating Officer of iMediation. "Selling, whether it's financial services, cosmetics or electronics, is inherently collaborative. We will continue to develop solutions that help our customers build and develop online partnerships while providing a way to better manage their brands and complex channels via the Internet."

"We've followed iMediation since the first round of financing in March 1999, and we continue to be impressed by the company's technology, management, execution and promise," said Eddie Misrahi, Director of Apax Partners. Apax Partners remains the largest shareholder of iMediation.

"Since our seed investment in October 1998, we have been impressed by the quality of the management team and its execution skills," says Jean-Pascal Tranie, Managing Partner of Viventures. "iMediation works at Internet speed and this is a promising asset for the international consolidation."

As in previous rounds of financing for iMediation, the company's new investors all invested to fill both strategic and classic financial interests.

Samuel Pinto, General Manager, Compagnie Financiere Saint-Honore, commented, "iMediation's technical expertise, knowledge of diverse market segments, and strong global customer base make them ideally positioned to further establish their first mover position in new markets worldwide."

"Over the last two years, iMediation has developed an excellent foundation comprised of a strong management team, innovative technology and a global vision, reinforcing Deutsche Bank eVentures' belief that they are poised to become a global leader in the e-commerce space. iMediation's superior product should provide multiple industries with cutting edge e-business solutions," said Pierre Suhrcke, Director, Head of Origination, Deutsche Bank eVentures.

GIC SI's investment in iMediation is their first in a European- based global e-commerce company, reflecting their confidence in the company's prospects. "iMediation's ability to quickly enter and establish their position in geographies across Europe and the Americas gives us confidence that they will be successful in doing the same for markets across Asia and the Pacific Rim," said Wai Meng Ng, Senior Vice President of GIC. "We are very excited about the prospect of assisting them as they move to bring collaborative selling solutions to the rest of the world."

About iMediation's New Investors

Deutsche Bank eVentures

DB eVentures, the strategic investment arm of Deutsche Bank, funds and develops key e-business partnerships in close cooperation with the bank's global businesses. As Deutsche Bank's dedicated private equity e-business investor, DB eVentures is working with all of Deutsche Bank's business areas to provide DB with partners in cutting edge technology and e-business solutions.

The Government of Singapore Investment Corporation

GIC SI is the private equity investment arm of Government of Singapore Investment Corporation, an institutional investor managing the foreign reserves of Singapore and the country's largest global investment institution. GIC SI manages an international portfolio of investments comprising direct investments, venture capital and private equity funds out of offices in Singapore and key financial centers around the world.