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Impress Closes $10 Million In Funding to Drive Adoption of Packaged Integration

Series C Funding Led by Key Venture Partners with Participation from Existing Investors
September 12, 2005

Waltham, Ma. - Impress Software, a leading provider of packaged integration applications for SAP Enterprise Asset Management (EAM) and Enterprise Project Management (EPM) customers, today announced that it has closed $10 Million in Series C funding.  The latest round was led by Waltham, MA-based Key Venture Partners, and included participation from existing investors General Catalyst Partners, Carmel Ventures, Star Ventures and Techno Venture Management (TVM).  The funding will enable Impress Software to expand sales and marketing initiatives worldwide to take advantage of the growing interest in the company's packaged integration applications. In addition, Ted Mocarski, managing director at Key Venture Partners, will join the company's board of directors.

"Since I've joined the organization, I've been delighted at the significant interest in Impress I.Apps from major companies around the world.  This latest round of funding will enable us to expand sales and marketing efforts, better serve our existing customers as well as enter new markets," said Warren Utt, Impress CEO.  "We are pleased to attract another strong partner in Key Venture Partners and look forward to working with them as we expand our operations and continue to address companies? complex integration challenges by providing packaged integration applications that solve these problems at a fraction of the time and cost compared to traditional EAI development platforms and custom services."

The new funding enables Impress Software to expand its sales and marketing efforts across a broad range of vertical markets such as chemical, energy, utility, engineering and construction, oil and gas, public sector, aerospace and defense, forestry and land management.  Building upon its solid install base, the funding will also enable Impress to enhance its presence worldwide to penetrate new markets that could benefit from the value that Impress I.Apps deliver.

"Impress Software is a very promising company that is already generating substantial revenues by enabling large companies to solve their integration problems and maximize their existing IT investments," said Ted Mocarski, managing director at Key Venture Partners. ?With an established management team, industry proven and certified technology and a robust customer pipeline, we're looking forward to helping the company achieve continued success."

About Carmel Ventures
Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel Ventures is one of Israel?s leading Information Technology focused funds with $372 million under management.  Led by former entrepreneurs and executives of the software, communications and investment industries, Carmel provides active, hands-on support to its Israeli, European and US portfolio companies. Carmel is located in Herzliya, Israel and has a worldwide network of industry, strategic and investment resources. Carmel provides significant capital and support throughout the growth cycle of its portfolio companies and is recognized as a true company building fund in Israel. For more information, please visit www.carmelventures.com

About General Catalyst Partners
General Catalyst Partners is a private equity firm that invests in exceptional entrepreneurs and technical founders who are building the software solution and technology platform companies that will lead innovation and transform industries. Founded in 2000, General Catalyst Partners leverages its principals? extensive operational, business development and technological expertise to provide portfolio companies with a catalyst for success through business-building and partnership development assistance. General Catalyst is headquartered in Cambridge, Mass.  For more information, please visit: www.generalcatalyst.com .

About Key Venture Partners
Key Venture Partners is a Waltham, MA-based venture capital firm that invests in expansion stage companies with capital-efficient business models. They are committed to help young, venture stage companies as well as older, well-established companies realize the full potential of their growth opportunities in the software, communications and information technology (IT)-enabled services sectors. With over 50 combined years of operating and investing experience, Key Venture Partners understands the unique challenges of expansion stage growth in these sectors. For more information, please visit www.keyvp.com .

About Star Ventures
Star Ventures (STAR) is an international venture capital group that invests in early-stage, high-tech companies in Israel, the United States and Germany. STAR has a truly global approach and focuses on deep-technology companies that are already active internationally or are preparing to expand globally. Since its inception in 1992, STAR was involved as an early investor in successful companies such as Ciena, Alvarion, Precise, EFI, Creo, and Orckit.
To date, STAR has close to US$ 1B under management over 15 funds. The portfolio comprises more than 180 companies, with 59 exits through IPO?s (mainly NASDAQ) or trade sales to date. Typical areas of interest are information technology, especially software and equipment for the communications and enterprise markets, as well as semiconductors and to a smaller extent medical device and biotech companies. Star Ventures is headquartered in Munich, Germany, with offices in Herzelia, Israel, and Dallas, Texas, USA.  For more information about STAR please visit www.star-ventures.com

About TVM
Techno Venture Management (TVM), founded in 1983, is one of the first venture capital funds formed in Germany and a leader in transatlantic operations. The German-U.S. venture capital company has offices in Munich and Boston. For many years, TVM has focused on information and communications technology and life sciences, high growth sectors where innovation, effective management and sound financial backing have an enormous impact on a company?s ability to prosper and generate value. TVM funds have made investments in over 220 technology companies in Europe and the United States. Many of these enterprises went public on U.S. or European stock exchanges or were sold to strategic acquirers. For more information please visit www.tvmvc.com .

About Impress Software
Impress Software is a leading provider of packaged integration applications (I.Apps') that enable quick and cost-effective integration of project management and geographical information systems with SAP resulting in streamlined business processes across multiple enterprise systems. Impress I.Apps allow integration to be completed at a fraction of the time and cost compared to traditional EAI development platforms. Impress Software customers include global leaders such as Bayer, DuPont, Halliburton, Nebraska Public Power District, New Brunswick Power, British Petroleum, Ontario Power Generation, Valero, Total, and many others.

 

 

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