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Press/Analyst Inquiries: Susan Majerus, 970-301-4190, susan@tyackmajerus.com SeaTab Software Closes $9 Million in New Funding SEATTLE - October 10, 2007 - SeaTab Software, Inc., the provider of PivotLink on-demand business intelligence solutions, today announced that it has received $9 million in new funding. The Series B round was led by Emergence Capital, the leading venture capital firm focused on early and growth-stage Technology-Enabled Services companies. Trident Capital was also a financier in the round. As part of the funding, Gordon Ritter, co-Founder and General Partner at Emergence Capital and a leading visionary in the on-demand services sector, will join the SeaTab Software board of directors. Prior to founding Emergence, Ritter spent over 15 years building companies that, among other things, pioneered "On Demand" services for the SMB market. He led Emergence Capital's first investment in the on-demand leader Salesforce.com and recently was named to the Forbes' Midas List of the top venture capital investors in 2007. SeaTab Software is the provider of PivotLink on-demand business intelligence solutions. PivotLink puts the full power of business intelligence in the hands of people who need it, with tailored environments for each user, ranging from CEOs to rank-and-file employees. PivotLink's unique, self-directed analytics capabilities provide these users with complete analytical freedom without requiring IT involvement. The software can be used in stand-alone deployments and through seamless integration with third-party solutions. "A Software-as-a-Service (SaaS) company with the right combination of innovation, commitment and leadership can become a market leader and change entire industries," said Ritter. "We saw that in Salesforce.com and, when we were introduced to SeaTab, knew we were seeing it again. We're excited about this investment." "True business intelligence on-demand has long been the 'holy grail' of the BI industry," said John Dillon, a venture partner with Emergence and former CEO of both Salesforce.com and Hyperion (a leading BI solution provider). "I knew someone would get it right eventually and was excited to see that SeaTab seems to have cracked the code with their solutions." "This is the second, unsolicited round of funding for SeaTab, which is a tremendous validation of the company's value," said David Weld, CEO of SeaTab. "We also feel fortunate to have the support of investors with so much expertise in both SaaS and business intelligence." About SeaTab Software, Inc. About Emergence Capital |
