Press Releases

Coremetrics Secures $9 Million in Funding

Leading Web Services Provider of Marketing Analytics Solutions Continues Momentum with Financing Round and Two New Fortune 20 Clients

Burlingame, CA – November 6, 2002 – Coremetrics™, the leading web services provider of marketing analytics solutions for the world's most sophisticated data-driven companies, today announced that the company has secured $9 million in funding from Accel Partners and Highland Capital Partners, while continuing the rapid addition of new Fortune-class companies to its client roster. The capital will be used to expand Coremetrics' sales and marketing efforts, fund new product development initiatives, and support the company's entrance into new markets. This round of financing will bring the company to profitability.

"Coremetrics represents the type of strategic infrastructure investment that has the potential to fundamentally transform the way e-businesses operate," said Arthur Patterson, general partner and co-founder of Accel Partners. "The company's outsourced model for delivering marketing analytics has always been the right approach, and Coremetrics is thriving under the current economic conditions with the most sophisticated large corporations because its solution delivers immediate ROI at low initial cost without disrupting the core business functions of their customers."

"A company that raises money in today's market must show ROI-backed value propositions with proven results," said Dan Nova, general partner of Highland Capital Partners. "Coremetrics is a compelling investment because they have developed a market leading solution that enables any company with an investment in the online channel to dramatically improve profitability. Coremetrics has been able to gain a leading market share position among the world's largest e-businesses, and this latest round of funding will enable them to continue growing the business and build upon their long-term product vision."

"Combined with our continued success in attracting prestigious new Fortune-class customers and industry-leading partners, this powerful endorsement from our investors gives us the strong balance sheet we need to assert our clear leadership position in this market," said Scott Kauffman, president and CEO of Coremetrics. "This investment provides Coremetrics the capital required to achieve positive cash flow at a time when many companies are struggling to make ends meet, and allows the management team to focus on both top and bottom line growth. We will remain focused on providing superior insight into the online channel for our customers, while delivering on our product vision for an analytics platform designed to leverage the perfect knowledge available through our data platform."

About Coremetrics
Coremetrics is the leading web services provider of marketing analytics solutions, empowering companies to develop and act upon a comprehensive understanding of all visitor and customer interactions within their online channels. Coremetrics Marketforce is the industry's only online marketing analytics platform that captures and stores all customer and visitor clickstream activity to build LIVE (Lifetime Individual Visitor Experience) Profiles that serve as the foundation for all successful marketing initiatives. Coremetrics Marketforce enables online marketers, IT officers, and e-commerce executives to attract and convert high value visitors, optimize shopping path design, and increase customer lifetime value. Customers include Ann Taylor, The Columbia House Company, CompUSA, Eddie Bauer, Motorola, Newport News, Nortel Networks, Spiegel Catalog, and Victoria's Secret. Coremetrics is headquartered in Burlingame, California with research and development offices in Austin, Texas. The company is privately held with funding from Accel Partners 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 is the trademark 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.