Knowmadic Raises $7.5 Million First Institutional Round From 3i and Hummer Winblad; Software Solution Speeds Application and Data Integration

Business Wire, August 26, 2002

Business Editors/High Tech Writers

SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 26, 2002

Knowmadic, a leading provider of rapid business data aggregation, and enterprise and B2B application integration products, today announced it has secured its first institutional round of financing co-led by 3i and Hummer Winblad. The funding will be used for product development, sales and marketing. As part of the financing, Robin Murray, partner at 3i, and Doug Hickey, partner at Hummer Winblad, have joined Knowmadic's Board of Directors.

Knowmadic Integration Suite(TM) provides a complete enterprise software development and deployment platform that allows users to easily build and run applications that extract, integrate and publish information from both structured and unstructured data sources such as Web sites, databases, applications and legacy systems.

"Traditional application integration is costly, complex and time consuming with debatable ROI. In contrast, Knowmadic focuses on integration at the User Interface (UI) level, with a dramatic saving in speed of integration and reduction in complexity. Its customers and partnerships are testament to the technology and a compelling ROI," said Robin Murray, partner at 3i in Menlo Park.

"We are excited by Knowmadic's new approach for data integration and the vast market opportunities enabled by its integration in-a-day," said Doug Hickey, partner at Hummer Winblad. "We have looked at many companies in this space, and Knowmadic stands out by combining a high value solution validated with broad customer wins and a strong management team. There are few software companies that can boast six quarters of successive revenue growth in today's economic climate."

In addition to blue chip customers such as Bonneville Power Administration, Detroit Trading, Williams and TXU, Knowmadic recently announced an agreement with TIBCO, whereby TIBCO will market Knowmadic software as part of its ActivePortal platform.

"This financing represents an important step in our becoming the defining company in the data integration space," said Jona Khandekar, founder and Chief Executive Officer of Knowmadic. "We are very pleased to work with two top tier venture firms. 3i is both a strong local partner and a partner with the international scale and reach that can help us to expand into international markets by leveraging their global network of contacts with key industry players. Hummer Winblad has a superb track record in software investing and we look forward to leverage their high level of knowledge in this area."

About Knowmadic Inc.

Knowmadic is the leading provider of integration solutions for companies who need to quickly build applications that can flexibly respond to rapid change. Knowmadic's products and services are designed to deliver "Integration in a Day." The Knowmadic product line includes: the Knowmadic Integration Suite, a complete solution for rapidly building and deploying successful data aggregation, and enterprise and B2B integration applications; Knowmadic WebActivity(TM) software for automating the integration of web information and data with enterprise portals; and data integration software specifically designed for the energy industry. Knowmadic's customer's include: TIBCO Software, Avanade, Williams, Cinergy, TXU, Bonneville Power Administration and Lawson Products. Knowmadic can be reached at 408-261-0200 or on the web at http://www.knowmadic.com.

About 3i

3i is a leading international venture capital company with U.S. offices in Menlo Park, CA and Waltham, MA. Operating since 1945, 3i has invested worldwide over $20 billion, including co-investment funds, through its 16-country, 3-continent network of 36 offices. 3i leverages this worldwide presence to add value to its portfolio companies and investment partners. In the United States, 3i concentrates on early and later stage technology investments in companies with the potential to be leaders in their markets. Outside the USA, 3i invests broadly in private equity and venture capital.

Since opening businesses in 1999, 3i is already among one of the most active VC's in its markets. The investment in Knowmadic follows investments in early stage companies including Sonim and OmniGuide. Along with these early stage investments, 3i successfully implemented its later stage initiative with the stated goal of placing an equal focus on both early stage start-ups as well as later stage investments. Recent investments include Top Layer and Placeware. Visit 3i and its portfolio at www.3ius.com.

About Hummer Winblad

Established in 1989, Hummer Winblad Venture Partners (www.humwin.com) was the first venture capital firm to invest exclusively in software companies. Today, Hummer Winblad Venture Partners has $1 billion under management and is headquartered in San Francisco. Past early stage investments include Arbor Software, Extensity, Global Center, NetDynamics, Powersoft, Scopus Technologies, and Wind River Systems. Hummer Winblad Venture Partners investment categories include enterprise applications, software infrastructure and platforms, development tools, and engineering and scientific software.