Press Releases

Coremetrics™ Raises $31 Million in Third Round of Venture Capital Funding

Accel Partners, Highland Capital Partners, General Catalyst and TiNSHED Invest in Leading Provider of Business Intelligence Solutions

San Francisco, Calif., – February 12, 2001 – Coremetrics™, Inc. (www.coremetrics.com), a provider of business intelligence solutions that enable companies to improve interactions with their customers based on a complete understanding of online behavior, today announced the company has secured $31 million in a third round of venture capital funding. This third round was led by Accel Partners and Highland Capital Partners and will be used to expand Coremetrics' research and development, client services, and sales and marketing departments. General Catalyst and Australia-based TiNSHED also participated in this round.

To date, Coremetrics has secured a total of $62,000,000 in capital, which includes a $15 million second round from Highland Capital Partners and Accel Partners; a $14 million venture debt financing round from Western Technology Investments; and a $2 million seed round from investors including Constantin Partners, Garage.com and Selby Venture Partners.

"With market conditions in a state of flux, we are extremely selective about our investments," said Arthur Patterson, General Partner and Founder of Accel Partners. "Coremetrics represents an especially compelling investment opportunity given the increased need for customer visibility and the power of a network-deployed service. Since our initial investment in Coremetrics less than a year ago, they have achieved remarkable customer traction and are on track to become the defining solution in an extremely high growth segment of the CRM market."

"Coremetrics is addressing a critical need for cross-channel analysis of online customer interaction data," said Keith Benjamin, General Partner at Highland Capital Partners. "Its technology is dramatically superior to existing solutions. Coremetrics' platform is bringing marketing intelligence to the next level, reaching across consumer and business customers, online and offline, with a rapidly growing roster of customers."

"We are very excited about the continued confidence of Accel and Highland as well as the significance of General Catalyst and TiNSHED joining our team," said Coremetrics President and CEO, Brett Hurt. "Being able to raise such a substantial round of capital during the current market conditions speaks volumes to the incredible value Coremetrics brings to its target market of multichannel companies. With our suite of services, our clients can significantly leverage the Internet to grow their business, reduce their costs and improve their customers' experience."

About Coremetrics
Founded in May 1999, Coremetrics is a provider of business intelligence solutions that enable companies to improve interactions with their customers based on a complete understanding of online behavior. Coremetrics' outsourced data capture, storage and decision-support services provide a complete model of customer interaction online that is extensible for enterprise-wide use with third-party customer relationship management and data mining applications. Coremetrics is headquartered in San Francisco, California, with research and development offices in Austin, Texas. The company is privately held with funding from Accel Partners, General Catalyst, and Highland Capital Partners. To learn more about Coremetrics, visit the company's Web site at www.coremetrics.com or call 877-721-CORE.

Coremetrics and eLuminate Commerce are trademarks of Coremetrics, Inc. Any other marks used in this document are trademarks or registered trademarks of the manufacturers or marketers of the products with which the marks are associated.