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12/04/2006

OpenSpan Secures $8 Million in First Round of Funding

OpenSpan Inc., the pioneer of Surface Integration recently announced that it closed its first round of Venture Capital funding. Premiere venture capital firms Sigma Partners and Matrix Partners are the lead investors in this round. This funding will help to fuel the expansion of OpenSpan’s direct and channel business operations, in order to advance its leadership position in the desktop integration and automation software market.

Since the release of the flagship product Composite Studio in 2005, OpenSpan has quickly become the leading provider of Surface Integration™ software. Composite Studio enables IT, analysts or even domain experts to rapidly integrate and automate any type of application right at the desktop, providing a streamlined desktop environment for businesses seeking gains in productivity, performance and quality for their end users and contact center agents.

”By generating what is traditionally a very complex and heavy services oriented activity, it is now possible to greatly simplify a user’s desktop in literally minutes without ever writing a line of code,” said Francis Carden, CEO of OpenSpan. “People don’t believe it when they see the product in action, how the intuitive graphical modeling environment of Composite Studio can produce in minutes what would usually take weeks, months or years of back end integration with senior engineers”.

“OpenSpan has revolutionized not only the ability for contact centers to easily improve productivity and service quality, but the agility of any business processing function in any organization to integrate and automate disparate applications right at the desktop at lightning speed,” stated John Mandile, Managing Director at Sigma Partners.

David Skok, General Partner at Matrix Partners added: “Our investment strategy is to invest in companies that we perceive to be on the cutting edge of creating major new markets in software, and OpenSpan fits that category with its ingenious and rapid approach to desktop integration and automation.

Francis Carden concluded: “Sigma’s and Matrix’s investment in our company is a terrific endorsement of our technology, our team and our business plan. We look forward to working closely with two of the top value added investors in the world, who have an incredible track record of proactive mentoring, networking and support for their portfolio companies”.

For more information, please visit: www.openspan.com