Press Releases

Scott Kauffman Appointed President & CEO of Coremetrics

Internet Industry Pioneer and Marketing Veteran Provides Leadership and Experience to Accelerate Next Phase of Growth

San Francisco, Calif., – May 24, 2001 – Coremetrics™, Inc. (www.coremetrics.com), a provider of data-driven business intelligence solutions, today appointed Scott Kauffman, one of the industry's most seasoned managers, as president and CEO. Before joining Coremetrics, Kauffman served as president and CEO of several venture-backed start-ups, including eCoverage, a direct-to-consumer online insurance company, and AdKnowledge, an application service provider that developed buy-side advertising management solutions. As president and CEO of Coremetrics, Kauffman will provide the company's strategic direction and manage day-to-day operations. Brett Hurt, founder and former CEO, will remain active in Coremetrics' business operations and will serve as chairman of the board and chief architect.

"In business, the promise of the Internet has always been about enabling companies to operate more efficiently - especially if they are able to truly understand their customers," said Scott Kauffman, president and CEO of Coremetrics. "After evaluating many of the players in this space, it was clear to me that Coremetrics had superior technology and a better business model for delivering customer intelligence solutions to Fortune-class companies. I was impressed with the market traction Coremetrics had gained in the past year, as well as the enthusiastic comments from its growing list of world-class customers. I am looking forward to building on Brett Hurt's market vision and entrepreneurial spirit as we grow this incredible company together in the years ahead."

Kauffman brings over 20 years of executive-level management experience to the Coremetrics team. Before coming to Silicon Valley, Kauffman spent two years at CompuServe, where he worked closely with Goldman Sachs to engineer one of the Internet industry's first initial public offerings, and seven years at Time Warner, where he was a member of the founding team of Entertainment Weekly, and most recently served as vice president of business development for Time Warner Interactive.

"Coremetrics is one of our most promising portfolio companies and we are extremely bullish about the market opportunity for outsourced business intelligence solutions," said Arthur Patterson, general partner and co-founder of Accel Partners. "Perhaps most importantly, the company continues to make progress in a market where many others are stumbling. At this stage in Coremetrics' growth, we are delighted that Scott Kauffman has joined the team as president and CEO. His leadership and domain expertise will be extremely valuable to Coremetrics as they continue to secure leading Fortune 500 companies as customers, and forge strategic partnerships with established industry leaders."

Prior to entering the technology arena, Kauffman enjoyed a distinguished career in magazine publishing. In addition to founding Entertainment Weekly, Kauffman served as marketing director for both Money and Life, was publisher of Newsweek OnCampus and Newsweek OnHealth, and general manager of Newsweek's Education Division. Citing Kauffman's work on the national launch of Entertainment Weekly, Advertising Age named him one of the top 100 marketers in the country in 1992. He was again honored by Advertising Age in 1996 as one of twenty Digital Media Masters. Prior to publishing, Kauffman was a brand manager for Lever Brothers and a media planner for Benton & Bowles.

"Coremetrics' top-tier clients have proven that companies can extract substantially more value from online customer interactions with actionable data for superior decision support," said Keith Benjamin, general partner at Highland Capital Partners. "Coremetrics is driving the market for enterprise-class online business intelligence because its technology platform is dramatically superior to existing solutions. With Scott Kauffman in place as president and CEO, Coremetrics is positioned to extend its lead in this critical segment of the CRM landscape and bring online business intelligence to the next level."

"Coremetrics has experienced remarkable success in the past year, and we've been able to deliver online business intelligence successfully to large, well-recognized companies including GMAC Insurance Online, Hanover Direct and Walmart.com," said Brett Hurt, chairman, founder and chief architect of Coremetrics. "As we move into our next phase of growth, we will rely on Scott's executive-level management experience and his prior success in penetrating high growth markets to secure our position as leaders in online business intelligence. I look forward to working with an industry veteran like Scott, and I am excited about him joining the Coremetrics team as president and CEO."

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' customers include GMAC Insurance Online, Hanover Direct, Sundance Catalog Company, Walmart.com and Wilsons Leather. Coremetrics is headquartered in San Francisco 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, eLuminate Commerce and Core Data Platform 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.