Insight Press

On the Heels of a Record Breaking Year, New Relic Raises $80 Million

Mezzanine Financing Will Open Expansion to Mobile Application Management and Continue Strong Momentum in Enterprise, Cloud Markets

SAN FRANCISCO – Feb. 5, 2013 -- New Relic Inc., the SaaS-based application management provider, today announced that it has raised $80 million in mezzanine financing to help the company expand into the mobile market, extend operations to Europe and increase its enterprise footprint, all in preparation for a future public offering.  Insight Venture Partners led the financing, which also included a major investment from accounts managed by T. Rowe Price Associates, Inc. Other participants included Dragoneer Investment Group LLC, Passport Ventures LLC, and the company’s existing investors Allen & Company, Benchmark Capital, Trinity Ventures and Tenaya Capital. The round comes on the heels of another record-breaking year in which New Relic nearly tripled its revenue growth and more than doubled its customer base.

New Relic's software as a service provides real-time visibility into the health of applications to create a more reliable customer experience, whether the applications originate in the cloud, web or mobile environments. Considered the premier SaaS-based application management platform for today’s web applications, New Relic has been adopted by thousands of companies worldwide, including significant deployments with ESPN, Nike and Sony. Additionally, collaboration, ecommerce, gaming and social media businesses such as Comcast, E*Trade, eHarmony, GitHub, Groupon, Mashable, MercadoLibre and Zumba, are using New Relic to significantly lower the costs of maintaining and optimizing business-critical software applications.

Company Growth Metrics

Overall Achievements

- 18 quarters of consecutive growth

- Industry’s largest installed base for an application performance management solution, achieving 35,000 active customer accounts in five years

- 1 million app instances data is sent to New Relic at any given time

- Largest repository of application data known to exist

2012 Wins

- Nearly tripled revenue growth year over year

- Doubled its customer base, and added over 1,200 paying customers in 4Q2012

- Portland office relocated to more spacious building

Supporting Quotes

“Software is running the world, and this is an exciting time to be in the business of making that software run fast. Today we see a huge opportunity to improve the speed, reliability, and effectiveness of software running on mobile devices. There are millions of apps out there for mobile devices – gaming, social and business apps – that have no tools in place for improving the user experience, yet billions of dollars are being poured into mobile app development. In 2013, you’ll see New Relic offer analytics capabilities for native mobile apps that elegantly fill this gap and combine with our proven web app management tool to create the most comprehensive application solution out there.”

- Lew Cirne, founder and CEO, New Relic

“With the profusion of mobile devices, social media and web applications in all aspects of everyday life, New Relic’s monitoring and performance management software plays a pivotal role in ensuring a quality user experience. Customer usage expectations are high, and New Relic’s solutions help companies underwrite this experience. We look forward to partnering with management to scale New Relic to be the preeminent provider of performance management solutions to the world’s largest and fastest-growing companies.” 

– Jeff Horing, managing director and co-founder, Insight Venture Partners

Online Resources

• Learn more at our blog post
• Learn more how the company has grown in our infographic
• To sign up for more info about the upcoming mobile launch, visit newrelic.com/mobile

About New Relic

New Relic is on a mission to create a better web and mobile experience for everyone by making apps faster and more reliable. Analyzing 80 billion metrics each day, New Relic provides application developers critical insights about performance issues that are affecting their business’ bottom line. Serving more than 35,000 customers in 36 countries, New Relic’s SaaS solution has the largest customer base in the industry. More information can be found at www.newrelic.com.

Social Media Links

Facebook

Twitter, #newrelic

YouTube

LinkedIn

Media Contacts

Justin Dorff

SHIFT Communications

415.591.8412

jdorff@shiftcomm.com 

Stephanie Xavier

Sr. Communications Manager

New Relic

415-602-4035

stephaniex@newrelic.com

Video Content Creation Platform Company, Tongal, Receives $15M from Insight Venture Partners

Innovative social network for content creation to use Series B funding to build out its talented creative community and support existing strong revenue growth

Los Angeles, CA – January 14, 2013: Tongal, the leading social platform for innovative marketers to produce creative video content, today announced a $15 million Series B investment from global private equity firm, Insight Venture Partners. Tongal plans to use the funding to accelerate the build-out of its premiere global creative community and to support plans for rapid expansion. 

Tongal was founded in 2008 by Rob Salvatore, James DeJulio and Mark Burrell, who believed that breakthrough ideas can come from anywhere, that global creative talent was being under-utilized, and that brand marketers could benefit from accessing the imagination and skills of this geographically diverse talent pool, specifically in the high-growth area of video content.

Salvatore, DeJulio and team turned the creative development process on its head by making it social, and opening the door to contributors from all walks of life.  At the heart of the business are proprietary, multi-phased collaborative and competitive challenges managed by the company and its technology. Tongal’s brand sponsors provide campaign objectives and a cash prize pool, then release the challenge to Tongal’s community, the brand’s social following and the world at large.

The Tongal platform manages a fun and iterative ideation, storyboard, and production process that yields quality video content at lower cost and faster speed than current methods of content development.   Challenges begin with an “Idea” round.  Once a sponsor selects the best Idea submissions, the Ideas themselves then move forward in the competition and more-technically skilled filmmakers bring the winning Ideas to life. Branded videos created via Tongal can be conceived of, produced, and ready to be deployed in less than eight weeks.

“Our brand customers are thrilled with the quality and in-market performance of videos being produced on Tongal, as well the unexpected and fresh ideas that emerge,” said James DeJulio, company President.  “Tongal enables businesses to expand beyond the thinking within the four walls of their organizations, and provides the opportunity to unlock and access the world’s creativity — this is very powerful.”

Demand for Tongal’s product is being driven by the growing need for online video content. In 2012, Tongal experienced strong growth as marketers continued to shift online budgets towards more video content – revenue grew by more than 400%, with many brand customers running multiple campaigns on Tongal’s platform.  Tongal’s list of customers includes six of the world’s Top 10 most valuable brands. They have used Tongal-produced video across social media, mobile, broadband, and on television.

“Tongal’s customers told us how the company’s robust community, coupled with Tongal’s delivery platform, offers brand marketers a unique opportunity to satisfy their need for high-quality, innovative, and inspiring content,” said Jeff Lieberman, managing director at Insight Venture Partners. “All this occurs at lower cost and with faster time to market – something truly differentiated among marketing solutions. We are excited to work with Rob, James, and the team as they scale Tongal.”

Rob Salvatore, Tongal CEO, added, “2013 is going to be an exciting year for Tongal. Given Insight’s past successes and shared vision, Jeff and team are the perfect partners to help us realize the potential of Tongal.  With the capital infusion, we will accelerate our sales and marketing to serve more brands. We also will build more community tools to ensure we have a committed group of global professionals able to capitalize on their talent, develop professionally, and continue to earn a living doing what they love.“

At the time of this announcement, Tongal Community members had earned more than $3 million dollars via the website.


About TONGAL

Tongal is a social content development platform that helps global businesses connect with global creativity.  Tongal's unique Content Evolution process opens the creative door to loyal customers, fans, even employees -- creating immediate, relevant content by tapping their (frequently, great) ideas, then pushing the very best of these forward to the talented folks who can translate the vision into living color. www.tongal.com

Tongal Social Media Resources:

• Facebook: Tongal
• Twitter: @tongal
• Vimeo: http://vimeo.com/user2079750
• Blog: The Tongal Blongal

About Insight Venture Partners

Insight Venture Partners is a leading venture capital and private equity firm investing in eCommerce, Internet, on-premise and SaaS-based software and data-services companies. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments worldwide. Our mission is to find, fund and work successfully with visionary executives who are driving change in their industries. We provide founders with practical, hands-on growth expertise to foster long-term success. For more information, visit  www.insightpartners.com and follow us on Twitter at @insightpartners .


Media Contacts
Dave Satterfield
GF Bunting PR
(o): 408 247 6767
(c): 408 802 6767
david@gfbunting.com

SR Labs Secures $53 Million Investment from Insight Venture Partners

NEW YORK, Jan. 9, 2013 /PRNewswire/ -- SR Labs, a leading provider of high-performance electronic-trading solutions for the global financial services industry, today announced the completion of a $53 million investment from Insight Venture Partners.

Pluralsight Receives $27.5 Million in Funding From Insight Venture Partners

Online educator for hardcore developers to continue rapid growth

LAYTON, UTAH – Jan. 3, 2013 -- Pluralsight, a leader in online education for software developers, announced today that is has received a $27.5 million investment from Insight Venture Partners to accelerate its already rapid expansion.

The financing marks the first outside investment in Pluralsight, which was founded in 2004 as a classroom-based training company, designed for developers by developers. In 2008, Pluralsight began a major pivot to move its training business completely online, with the goal of providing the same professional content through a flexible subscription model priced for worldwide scale. Today, Pluralsight has more than 200,000 users in more than 100 countries and offers more than 400 online courses, with 15-20 new releases per month. Pluralsight offers anytime, anywhere access to its entire library for as little as $29 a month.

“This investment is a big leap in Pluralsight’s journey,’’ said Aaron Skonnard, CEO and co-founder of Pluralsight. “So far, we have had great success in building a profitable and sustainable business with our own funds.  With this deal, we get both the financial and intellectual capital of Insight Venture Partners to really accelerate our growth at what we believe to be a critical time in the market.’’

Skonnard said the investment will lead to more quality content for customers. Pluralsight intends to use the funds to speed up the expansion of its course library to provide more breadth and depth in topic areas of interest to software developers around the world. Already, he said, none of its peers can match the quality, timeliness and relevance of Pluralsight’s course library.

Pluralsight has attracted a world-renowned team of authors who deliver the most advanced and effective educational experiences available today. These authors are experts in their respective fields – they also write popular books, articles, and blogs, and speak at leading industry events around the world. These experts choose to work with Pluralsight because they can derive attractive royalty streams from their published courses that far outperform the traditional book industry today.

“It’s no secret that online education is becoming a mainstream learning and training method,’’ said Ryan Hinkle, a partner at Insight Venture Partners. “Pluralsight has carved a big niche by appealing to software developers, an audience ideally suited to online learning. We believe the opportunities for developers will continue to expand exponentially and Pluralsight is positioned to take advantage of that.  Insight sees great prospects for this business.’’

Insight will have two board seats on Pluralsight’s seven-member board of directors.

About Pluralsight

Pluralsight is a global leader in high-quality online training for hardcore developers. The revolutionary Pluralsight training library provides developers everywhere with instant access to a rich collection of online training courses delivered by world-renowned industry authorities. Pluralsight provides flexible and cost-effective subscription plans for individuals and businesses starting from as little as $29 a month. See what you can learn at pluralsight.com and join the @pluralsight community on Twitter.

About Insight Venture Partners

Insight Venture Partners is a leading venture capital and private equity firm investing in on-premise and SaaS-based software, eCommerce, internet and data-services companies. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments worldwide. Our mission is to find, fund and work successfully with visionary executives who are driving change in their industries. We provide founders with practical, hands-on growth expertise to foster long-term success. For more information, visit insightpartners.com

Udemy Receives $12 Million in Series B Financies Led By Insight Venture Partners

Online Learning Marketplace to Significantly Expand Variety and Depth of Content Catalog, Hires Dennis Yang as President & COO

SAN FRANCISCO--(BUSINESS WIRE)--

Udemy, the leading online education marketplace, today announced the completion of a $12 million Series B financing round led by Insight Venture Partners, with additional support from existing investors Lightbank, MHS Capital and Learn Capital, bringing Udemy’s total funding to $16 million. The new capital will be used primarily for expanding the range and types of Udemy’s content offerings as well as extending the content catalog across new platforms. Udemy will continue to bring on the best content from the world’s leading experts, publishers and universities. In addition, the company announced the hiring of Dennis Yang as president and chief operating officer.

Launched in early 2010, Udemy is democratizing education by making top-quality content from the world’s experts dramatically more affordable for anyone, anywhere. The site currently offers over 5,000 courses – with over 400 courses added in October 2012 alone – covering a wide range of subjects, including professional, business, technical, academic, creative and lifestyle. Courses are delivered on demand, so adult learners in particular can take them at their own pace when and where it is convenient for them. Those teaching via Udemy are able to build a curriculum based on videos, slide presentations, PDFs, documents, articles, links, photos and live conferences with their students.

Yang, who previously served as executive advisor to a number of start-ups and held leadership roles with 4INFO and Good Technology, will lead Udemy’s business and operations-related activities, working closely with chief executive officer and co-founder Eren Bali.

“Our marketplace model has allowed us to double our course offerings in just 12 months, grow our user base to over 500,000 students, and increase our revenue 400% over last year,” noted Yang. “Udemy is already a top destination for online learning. This round of funding will allow us to continue to build the most amazing and unique content library in the world, expand our content and platform offerings and capitalize on the disruptive market dynamics of MOOCs and other online learning platforms.”

The Series B investment is Udemy’s third round of financing, having previously raised $3 million in October 2011 and $1 million in August 2010. The company recently announced a strategic partnership with The Jack Welch Management Institute at Strayer University to offer online leadership development solutions, and last month launched an iPad app, making its content even more accessible to students who want to learn anytime, anywhere. In May 2012, Udemy reported that its top 10 instructors collectively earned over $1.6 million.

“Our traditional education model is going through a radical transformation, making a dramatic shift toward the new platforms of online learning such as MOOCs, and Udemy is at the forefront with a unique marketplace model that provides a place for students to receive a quality education while giving instructors of all types the opportunity to earn significant income,” said Brad Twohig, vice president, Insight Venture Partners. “We look forward to seeing the company continuing to lead in this market and grow worldwide.”

About Udemy

Udemy is the leading marketplace for online learning, democratizing education by making top-quality content from the world’s experts dramatically more affordable for anyone, anywhere. Offering over 5,000 courses on a wide range of topics, Udemy allows experts worldwide – including best-selling authors, CEOs, celebrities, publishers, faculty and universities – to easily create and deliver consumer-grade online learning experiences where students can learn on demand at their own pace. Founded in 2010, privately-owned Udemy is funded by Insight Venture Partners, Lightbank, MHS Capital, 500 Startups and other investors responsible for funding Internet giants like YouTube, LinkedIn, Zynga, Twitter and Yelp. Udemy is headquartered in San Francisco. Web: www.udemy.com | Twitter: @udemy | Facebook: www.facebook.com/udemy.

About Insight Venture Partners

Insight Venture Partners is a leading venture capital and private equity firm investing in on-premise and SaaS-based software, eCommerce, Internet and data-services companies. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments worldwide. Our mission is to find, fund and work successfully with visionary executives who are driving change in their industries. We provide founders with practical, hands-on growth expertise to foster long-term success. For more information, visit insightpartners.com.

Smartsheet Raises $26 Million in Funding from Insight Venture Partners and Madrona Venture Group

BELLEVUE, WASH. – December 3, 2012 – Smartsheet.com Inc., a leading online collaboration provider, today announced it has secured $26 million from Insight Venture Partners and Madrona Venture Group. The company will use the funding to accelerate sales and marketing efforts, advance software development efforts, and expand partnerships. As part of the transaction, Ryan Hinkle, principal at Insight Venture Partners, will join Smartsheet’s Board of Directors.

Today, more than 1 million people across 100 countries use Smartsheet to coordinate and manage processes and projects by sharing critical information securely with colleagues, vendors, and clients. Its easy-to-use spreadsheet-inspired design and cloud-based architecture is revolutionizing how groups of all sizes can work effectively together. Smartsheet is deployed in a broad range of customer environments, from large enterprises including HomeAway, DHL, Toshiba, ESPN, Sony Music, and MetLife to small and medium-sized companies such as Motion Federal Credit Union and Cypress Grove Chevre.

“Emailing spreadsheets back and forth just doesn’t cut it anymore,” said Mark Mader, chief executive officer of Smartsheet. “Dispersed and virtual teams need a more effective way to work together, and Smartsheet is that platform. Smartsheet is, first and foremost, extremely easy to use – but it is also secure and scales up to enable highly complex, multi-departmental processes. Our continued triple-digit growth tells us we've built something that virtually every organization needs. We're going to use this additional capital to further expand Smartsheet's capabilities, and to reach organizations that need Smartsheet but don't know about it yet.”

“Insight is a big user of Smartsheet and one of the more than 20,000 organizations who organically discovered and benefits from the work collaboration that Smartsheet provides,” commented Hinkle. “Our own experience using Smartsheet, along with market dynamics, convinced us of Smartsheet’s tremendous growth potential and the opportunity it has to be a leading global provider of team-based collaboration products. We are excited to join the team and support them in their vision.”

Smartsheet meets the demands of a modern workforce and has gained significant popularity with organizations for managing a broad array of work – from marketing campaigns to product launches, business operations, sales pipelines, strategic planning and HR initiatives. Smartsheet also offers pre-built templates and integrations with leading cloud apps including Google Drive, Box and Salesforce to ensure users are up and running quickly.

According to Forrester Research, the online collaboration software market is expected to grow significantly in the coming years as companies look for better ways to collaborate and manage projects. In fact, Forrester Survey data indicates “the majority of decision makers at organizations deploying collaboration software indicate they either use or plan to use collaboration SaaS to some extent within the next two years.”

About Smartsheet
Smartsheet, a leading Software as a Service (SaaS) company, offers businesses an intuitive online collaboration tool. The ease of use of the familiar spreadsheet-like interface, coupled with file sharing, work automation and Gantt chart features have made it a popular and highly functional online collaboration tool for teams. Organizations worldwide rely on Smartsheet to help them manage their work. Customers include construction companies, consulting firms, schools and universities, utility firms, government entities, healthcare organizations, high-tech firms, non-profits, manufacturing and law firms, among others. Visit www.smartsheet.com for more details.

About Insight Venture Partners
Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight has a successful two-team structure: its investment team evaluates thousands of companies globally each year; its Insight Onsite team of consultants works with growth-stage management to provide resources and advice to allow them to achieve long-term success. For more information, visit http://www.insightpartners.com.

About Madrona Venture Group
Madrona (www.madrona.com) has been investing in early-stage technology companies in the Pacific Northwest since 1995 and has been privileged to play a role in some of the region's most successful technology ventures. The firm invests predominantly in seed and Series A rounds across the information technology spectrum including consumer Internet, commercial software and services, digital media and advertising, networking and cloud computing, and mobile. Madrona manages nearly $1 billion and was an early investor in companies such as Amazon.com, Farecast.com, Isilon Systems, Sharebuilder, and World Wide Packets.

Cherwell Software Raises $25 Million From Insight Venture Partners to Support Rapid Growth

Colorado Springs, Colo. – 27 November 2012 – Cherwell Software, a fast growing provider of a flexible IT Service Management Platform that empowers IT to support business functions, announced today the closing of a $25 million minority equity investment from Insight Venture Partners. Cherwell Software will use the growth capital to accelerate growth of its channel sales program globally and to build additional applications and services to broaden the capabilities of its innovative IT Services Management (ITSM) platform. As part of the transaction, Richard Wells, managing director at Insight Venture Partners, will join Cherwell Software’s Board of Directors.

“We are excited to welcome Insight Venture Partners to our team,” said Vance Brown, chief executive officer and co-founder of Cherwell Software. “Cherwell’s goal is to put customers first:  to listen to and to meet their needs, to provide quality products and to deliver extraordinary customer care. With Insight’s capital and its expertise working with fast-growth software companies, we will be able to achieve our customer and product goals more quickly to become the pre-eminent ITSM platform in the industry.”

Cherwell Software provides a SaaS-based and on-premises IT Service Management software platform to enterprises around the world. In 2012, Gartner’s Magic Quadrant recognized Cherwell Software in the IT Service and Support Management Tools market, and Forrester Research has recognized Cherwell as an “emerging leader”. The company has an impressive list of customers including BE Aerospace, City of Scottsdale, The Weather Channel, Munich Airport and the University of New Mexico. Cherwell Software has quadrupled revenue and generated strong profit margins in the past three years.

“Cherwell Software represents a winning value proposition that Insight has seen succeed time and again: a world-class product that is cost-effective and easy to use,” said Richard Wells, managing director at Insight. “Its IT customers and partners are strong advocates of Cherwell’s ITSM platform as well as the dedicated support they receive. Insight was attracted to the management team’s vision and the company’s strong momentum, particularly as awareness of Cherwell spreads across the ITSM market. Insight invested to provide growth capital for Cherwell to win in the market.”

Cherwell is committed to exceptional customer care and creating a company that will stand the test of time. With this new capital, the company plans to continue building Cherwell Software as the premiere service management platform solution for mid-market and enterprise companies – via growing a strong ecosystem of channel partners in the United States and internationally, as well as increasing the capabilities and breadth of the ITSM platform.



About Cherwell Software

Innovative Technology Built Upon Yesterday's Values
Founded by some of the industry's most notable leaders, Cherwell Software was built upon the premise that if we listen to our customers, care about and strive to meet their needs, and provide quality products and extraordinary customer care, then our company will stand the test of time –while having fun and building great relationships along the way. Our approach is also what enables us to help our clients build their companies to “stand the test of time.”

Cherwell Software is one of the fastest growing IT service management software providers with corporate headquarters in Colorado Springs, Colo., USA; EMEA headquarters in Wootton Bassett, U.K.; and a global network of expert partners.


About Insight Venture Partners

Insight Venture Partners is a leading venture capital and private equity firm investing in on-premise and SaaS-based software, eCommerce, internet and data-services companies. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments worldwide. Our mission is to find, fund and work successfully with visionary executives who are driving change in their industries. We provide founders with practical, hands-on growth expertise to foster long-term success. For more information, visit insightpartners.com


Cherwell PR Contact:
media@cherwell.com
+1 719.386.7000 (US Headquarters)
+44 (0)1793 858124 (EMEA Headquarters)

Insight Venture Partners PR Contact:
Dave Satterfield, GF Bunting PR
david@gfbunting.com
+1 (408) 802-6767

Branding Brand Raises $7.5 Million Series A Led by Insight Venture Partners

PITTSBURGH, Oct. 12, 2012 -- /PRNewswire/ -- Branding Brand, a mobile commerce platform used by major retailers, including American Eagle Outfitters, Costco, Ralph Lauren, and Sephora, today announced that it has secured $7.5 million in Series A funding led by Insight Venture Partners, with CrunchFund and Eastern Advisors also participating. Branding Brand will use the investment to scale customer acquisition, technology development, and operations.

The round marks Branding Brand's first outside investment. Founded in 2008 by three friends from Carnegie Mellon University, the company launched a mobile platform at the end of 2009 to seamlessly extend brands into optimized experiences for smartphones, tablets, and in-store. It is now the largest m-commerce provider to the Internet Retailer Top 500 and has grown from 10 to over 100 employees in the last two years.

"In 2013, many of our clients will see more internet traffic coming from mobile devices than desktop computers," said Chris Mason, co-founder and CEO of Branding Brand. "There is unprecedented opportunity in front of us, and we're ready to take things to the next level."

"We are particularly excited by Branding Brand's ability to deliver innovative cross-channel solutions to their retail partners," said Ryan Hinkle, Principal at Insight Venture Partners. "We were drawn to their thought leadership in enabling mobile solutions that enhance both brick-and-mortar and online functionality."

ABOUT BRANDING BRAND Branding Brand powers mobile commerce sites and apps for the world's leading brands, including American Eagle Outfitters, Anthropologie, The Children's Place, Costco, Crate & Barrel, Dick's Sporting Goods, Drugstore.com, Eastern Mountain Sports, GNC, Ralph Lauren, Sephora, Steve Madden, Timberland, Tumi, and West Marine. Based in Pittsburgh, PA, it is the largest and fastest-growing mobile commerce platform provider in the industry. It is also a Google Commerce Search Partner, Google Wallet Partner, and PayPal Channel Partner. For more information, visit http://www.brandingbrand.com.

ABOUT INSIGHT VENTURE PARTNERS Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight has a successful two-team structure: its investment team evaluates thousands of companies globally each year; its Insight Onsite team of consultants works with growth-stage management to provide resources and advice to allow them to achieve long-term success. For more information, visit http://www.insightpartners.com.

SOURCE Branding Brand

This story is taken from Sacbee

Shutterstock surges after IPO priced above range at $17

By Sarah Frier on October 11, 2012

Shutterstock Inc. (SSTK), an online marketplace for digital images, surged in its first trading day after raising $76.5 million in an initial public offering that sold above the proposed price range.The shares, trading on the New York Stock Exchange under the symbol SSTK, advanced (SSTK) 27 percent to close at $21.66.

Shutterstock sold 4.5 million shares at $17 apiece, the New York-based company said today in a statement. The IPO exceeded the proposed range of $13 to $15, giving the company a market value of $558.3 million.

Shutterstock, which sells access to a cache of more than 20 million licensed photos, illustrations and videos, is the city’s first technology IPO since MediaMind Technologies Inc. went public in 2010, according to data compiled by Bloomberg. Shutterstock is getting a boost from increased interest in photo databases since Carlyle Group LP (CG) agreed in August to buy photo archive Getty Images in a deal valued at $3.3 billion.

“It’s hard to imagine that it’s gotten this big,” Shutterstock Chief Executive Officer Jon Oringer said in an interview. “I’ve had lots of opportunities to do whatever I want to do at Shutterstock, and now we have more flexibility to grow.”

Oringer said he has rebuffed acquisition offers and wants to retain control of the company, which he founded in 2003 with 30,000 of his own photographs.

Shutterstock sells images to more than 550,000 customers in more than 150 countries for use on websites as well as for digital or printed marketing materials. Net income rose 15 percent to $21.9 million last year, while revenue increased 45 percent to $120.3 million.

‘Good Property’

“Shutterstock is a good property,” Francis Gaskins, president of IPOdesktop.com in Marina Del Rey, California, said in an interview. “They have a large user base, recurring cash flow and increasing revenue. It really depends on the quarterly earnings now.”

After the IPO, Oringer will own about 57 percent of outstanding common stock, while Insight Venture Partners will hold about a 21 percent stake, according to a regulatory filing.

Morgan Stanley (MS), Deutsche Bank AG (DBK), and Jefferies Group Inc. (JEF) were the lead underwriters.

To contact the reporter on this story: Sarah Frier in New York at sfrier1@bloomberg.net
To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net

Cloud email management firm to use Series C funding to focus on technological innovation and rapid expansion of its US business

Waltham, MA – September 27 – Mimecast, the leading supplier of cloud-based email archiving, security and continuity for Microsoft Exchange and Office 365, has today announced that it has secured $62.15 million in Series C funding led by Global Private Equity Firm Insight Venture Partners, with existing investors Dawn Capital also participating. Mimecast plans to use the funding to accelerate the development and deployment of new technology, and to support plans for rapid expansion in the U.S. market.

Founded in the U.K. in 2003 by Peter Bauer (CEO) and Neil Murray (CTO), Mimecast has grown rapidly, with over 50 percent year on year revenue growth recorded in six of the past nine years. Today, the Company has over 6,000 customers globally – including 70 percent of the U.K.’s top 100 law firms – and over 1.5 million users worldwide

“Today’s businesses are as dependent on email as ever but, increasingly, email struggles to keep up as the way we create, store and share information changes,” Peter Bauer, CEO and co-founder, Mimecast. “At Mimecast, we believe email needs to be rewired if it is to continue to deliver real value to businesses. Building on our history of innovation, we are working to make email more collaborative and more interactive to realize the true value of the vast amount of unstructured data in email stores.  We believe that the future is a more interactive archiving model, where IT folk and end users alike can derive more value in real time, on a day-to-day basis on any technology platform they choose to use. The cloud has the potential to democratize information management and deliver these kinds of powerful productivity tools to businesses of all sizes, rather than just being the preserve of the largest enterprises.”

“Email is the most important means of business communication and, better than anyone else, Mimecast delivers a true integrated solution for secure and accessible email,” said Jeff Lieberman, managing director, Insight Venture Partners. “Mimecast has already achieved strong success and with their product superiority, the industry’s move towards cloud solutions and a very large market opportunity, we believe that Mimecast is poised to achieve high growth and become the global leader in unified email management. Insight is delighted to share in this journey with management and existing shareholders."

Shea & Company acted as the exclusive placement agent, and Taylor Wessing acted as lead counsel to Mimecast, supported by Goodwin Procter, on the transaction.

For further information on this announcement, please visit:  http://www.mimecast.com/Microsites/Campaigns/The-Mimecast-Journey/

Will Continue to Focus on LatAm and Brazilian Markets, Major Investment and Innovative Online Model for English-language Instruction Drive Growth in Latin America

Open English, Latin America's leading online English language school, has secured more than USD $40 million in its latest round of financing led by New York-based Insight Venture Partners. The company - known for its 12-month program that helps students attain fluency in the English language - continues to expand its footprint throughout Latin America as it addresses the growing demand for language training in countries with booming economies like Brazil.

"Latin America has always been our core region and we see Brazil as a key avenue for growth for the company," said Andres Moreno, co-founder and CEO of Open English. "The growing economy and increasing importance of the region in the global marketplace have come together to create a heightened demand for English-speaking professionals. And with the coming 2014 World Cup and 2016 Olympic Games, bringing with it an influx of foreign investment, visitors, tourists and sports fans, this demand can only continue to grow. Coupled with the economic resilience seen in much of Latin America, continuing to invest in the development of our home region is the most natural next step for Open English."

Since its launch in 2006, the company has quickly grown to provide its services to more than 50,000 students in 20 countries. According to Moreno, the company owes its success to its disruptive instruction model of live online classes with native-English-speaking teachers and the unmatched convenience of an engaging online experience that provides access to the school at whatever time is most suitable for today's busy professionals. The program is highly flexible, with students having access to as many live classes as they want over the duration of their 12-month program, coupled with personal advisors that help students define goals and track their progress.

"Our goal is to end the year with 80,000 students while continuing to grow the quality of the program, and we will achieve this goal by continuing to focus our growth in our home region of Latin America," said Moreno. "This latest round of investment capital - where we secured more than $40 million dollars - will give us the resources and liquidity to continue to scale and address key markets like Brazil, putting more students on the path to English fluency."

"Insight has a proud history of backing disruptive, energetic companies who are bringing something new to the marketplace," said Jeff Lieberman, Managing Director of Insight Venture Partners. "In Open English, we see an innovator with a compelling business model that will raise the bar in convenient, affordable, high-quality online language learning for Latin Americans who want to learn English. We look forward to supporting their mission and watching their effect on the marketplace."

This latest round of investment was led by New York-based Insight Venture Partners, with the participation of California-based Redpoint Ventures and existing investors including Flybridge and Kaszek.

About Open English

Open English is Latin America's leading online English-language school. Open English was founded in 2006 as a private company seeking to reinvent the English-language learning experience for today's busy professional by offering them customized 24/7 online-only instruction imparted by native English-speaking teachers. The company's 12-month language program is founded on a guarantee of helping students achieve fluency in the English language in a short amount of time.

5-billion-dollar U.S private equity firm invests in Bionexo

 
Bionexo, the biggest electronic business community for the health care industry in Latin America and Europe, integrating hundreds of hospitals and the whole production chain through its web platform, has announced a growth capital investment from Insight Venture Partners.
 
Insight Venture Partners is a leading global private equity firm based in New York that invests exclusively in the software, e-commerce, Internet and data-services industries. The partnership with Insight aims to accelerate Bionexo´s domestic and foreign expansion plans, which are founded on robust organic growth. Financial terms of the deal were not disclosed.

“As a leader in our industry, Bionexo has a responsibility to continue innovating and to keep building a culture of transparency in the Ibero-American health sector. To capitalize on our new opportunities, we knew that it would be important to seek a partner who brings not only financial support but also expertise in the global technology/internet and e-commerce segments. We are truly excited about this partnership with Insight because they have proved to be highly knowledgeable about the opportunities in this sector, and share our vision for the future, said Mauricio De Lázzari Barbosa, Bionexo’s CEO.

“Insight has a long-standing tradition of investing in companies that are “doing well by doing good” and Bionexo is just such a company”,. said Larry Handen, Managing Director at Insight Venture Partners. “We are impressed by their commitment to innovation, transparency and efficiency. The company’s solutions drive down third party costs by 10% to 35% through connecting hospitals to more than 13,500 suppliers across five countries.  We look forward to supporting Bionexo’s goal of making healthcare more affordable and efficient for suppliers, hospitals and patients.

Larry Handen will be joining the Bionexo´s Board of Directors to support the company´s strategic initiatives.  During the transaction, Insight was legally represented by Mattos Filho Avogados and by Goodwin Proctor LLP.

About Bionexo
Bionexo is a community made up of thousands of agents in the healthcare sector.
Through its innovative web platforms, Bionexo integrates hundreds of hospitals with thousands of health care suppliers across the entire production chain, with a focus on developing sustainable businesses relationships, best results and encouraging transparency.
In its 12 years of existence, Bionexo has become an industry leader in the healthcare sector in Brazil, Argentina, Colombia, Mexico and Spain. www.bionexo.com.br

About Insight Venture Partners
Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, e-commerce, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight’s investment team evaluates thousands of companies globally, while Insight Onsite, a team of operations and growth experts works with expansion-stage companies providing advice and resources to build long-term success.  www.insightpartners.com


Press Contacts:

Bionexo
Juliene Rodrigues
Communications
Bionexo do Brasil
+55 11 3133 8100 x 8168
jrodrigues@bionexo.com


Insight Venture Partners
David Satterfield
GfBunting LLC
(408) 802-6767
David@gfbunting.com

The Sage Group plc ("Sage"), announces it has acquired a controlling interest in Folhamatic Group ("Folhamatic"), a leading provider of accounting, tax and payroll and regulatory content software in Brazil.  The expected total consideration of £125m (R$398m) for 75% of the equity equates to an enterprise value for 100% of the business, including estimated net debt at closing, of £191m (R$608m).

The acquisition of Folhamatic represents an important step in building Sage's presence in key emerging markets, enabling a strategy focused on growth and a disciplined approach to returns.

Folhamatic has a leading market position in a large and growing economy:

• Brazil, now the sixth largest economy in the world, represents an attractive market for Sage with robust macro-economic fundamentals and a favourable, highly complex tax and regulatory environment
• The SME market in Brazil is relatively immature with limited business software technology penetration with some 90% of the c.6 million Brazilian SMEs using no business software
• Folhamatic is a leader in the SME market, with the leading presence in the accounting firm market (an important channel for SMEs), with c.13,000 accounting firms (out of c.78,000 in Brazil) and c.46,000 businesses as clients
• Folhamatic has a subscription based revenue model with over 80% of revenue generated on a recurring basis

The acquisition of Folhamatic is highly complementary to Sage's strategy and business model:

• High growth business with underlying revenues in the twelve months to 31 December 2011 of £42.4m (R$135.4m) growing at over 13%
• Integrated software and content offering, providing competitive advantage and potential for significant cross-sell opportunities
• Scope to combine Sage technologies, products and best practice with Folhamatic customer base and customer solutions to drive further growth
• The transaction achieves control for Sage while retaining and incentivising key Folhamatic personnel - the remaining 25% of equity will be retained by Mauricio Frizzarin, the founder and CEO of Folhamatic and is subject to a put and call arrangement exercisable during 2015

The transaction is consistent with Sage's M&A strategy:

• Acquiring a market leader in new high growth geography, focused on core SME accounting customers
• Folhamatic is valued at 13.4x projected 2012 EBITDA
• The transaction is immediately earnings accretive. Return on capital is expected to meet Sage's risk-adjusted hurdle rate in the third year post acquisition

Sage reiterates its commitment to an efficient balance sheet structure as set out at its interim results presentation on 9 May 2012. To this end, the ongoing share buyback programme will continue following the acquisition of Folhamatic.

Commenting on the acquisition, Guy Berruyer, CEO of Sage, said:

"We are delighted to announce the acquisition of a controlling interest in Folhamatic. It provides us with a market leading position in the large and rapidly growing Brazilian market. We are excited about the growth opportunity that the combination of Sage and Folhamatic creates in this market.

Folhamatic is an outstanding business, with strong management, and we are delighted to welcome the management and staff to the Group. We are particularly pleased that Mauricio Frizzarin will continue to run the Folhamatic business, which builds on our track record of retaining the top entrepreneurial talent of businesses we acquire to drive value for our shareholders."

Transaction details
The total consideration for 75% of the equity is payable in two parts and is contingent on the performance in 2012.  An initial payment of £101m (R$322m) is payable in cash on completion, with the potential for a further payment, expected to be £24m (R$76m) to be paid in addition if performance targets for the year ending 31 December 2012 are met1. The transaction is subject to certain completion deliverables and is expected to complete in June 2012. The consideration is being funded out of Sage's existing cash reserves and banking facilities. Put and call arrangements, exercisable by either party in a set period during 2015 and based on the financial performance of Folhamatic in the year ending 31 December 2014, have been agreed over the 25% remaining shareholding of Mauricio Frizzarin.

The acquisition is being made by an indirect subsidiary of The Sage Group plc, W.Y.L.S.P.E. Empreendimentos e Participações Ltda., through a purchase of direct and indirect interests in Folhamatic Tecnologia em Sistemas S.A., the holding company of Folhamatic, from sellers Fund VII FIP - Fundo de Investimento em Participações, Gilberto Caiuby Fischel, Rony Blinder and Mauricio Frizzarin. Funds managed by Insight Venture Partners are major shareholders of Folhamatic.

Sage was advised on the acquisition of Folhamatic by Citigroup Global Markets Limited.

About Folhamatic
The Folhamatic Group serves c.13,000 accounting firms (out of c.78,000 in Brazil) and c.46,000 SMEs. Its software and services provide accounting, tax and payroll software to accounting firms and businesses complemented by the provision of integrated regulatory content and training services. In the highly complex Brazilian tax and regulatory environment, Folhamatic's products and services help businesses and accounting practices achieve legal, fiscal and regulatory compliance. The integration of software and content provides an important competitive advantage and allows for significant cross-sell opportunities. This is provided on a subscription basis with over 80% of revenue generated on a recurring basis.

Folhamatic revenues for the year ended 31 December 2011 were £42.4m (R$135.4m), EBITDA was £6.8m (R$21.7m) and EBITA was £6.5m (R$20.7m). Gross assets as at 31 December 2011 were £79.2m (R$252.8m). Underlying revenues in the twelve months ended 31 December 2011 grew at 13%. In the year ending 31 December 2012, the business expects to deliver revenue of £48.8m (R$155.8m), EBITDA of £14.2m (R$45.2m) and EBITA of £13.9m (R$44.3m).

About Sage
The Sage Group plc is the leading global supplier of business management solutions to small and medium-sized enterprises ("SMEs"). Formed in 1981, Sage was floated on the London Stock Exchange in 1989. Sage has over 6 million customers and more than 12,600 employees worldwide. We operate in over 24 countries covering the UK, mainland Europe, North America, South Africa, Australia and India. For further information please visit www.sage.com

1.For the purposes of the UK Listing Rules, both the initial transaction and the exercise of the put and call option are subject to a capped consideration. The cap for the initial transaction limits the consideration payable for the 75% stake to £239m (R$763m). This would only be payable if Folhamatic outperformed the 2012 EBITDA forecast by 100%. Consideration payable by Sage for the remaining 25% stake if the put or call option is exercised equals 25% of 13.3x Folhamatic EBITDA for the year ended 31 December 2014.

*All financial information calculated on the basis of £1 = R$ 3.19

Insight Venture Partners and Khosla Ventures Lead Round

Indiegogo, the world’s largest online funding platform that empowers anyone with an entrepreneurial, cause-related, or creative idea to generate funding online, today announced that it has raised  $15 million in its round A financing.  The funding was led by Insight Venture Partners and Khosla Ventures, with existing Indiegogo investors Metamorphic Ventures, MHS Capital, ffVenture Capital, and Zynga co-founder Steve Schoettler participating. The new funding will be used to scale customer acquisition, technology development and operations.

Indiegogo’s funding platform has grown to feature more than 100,000 projects across 196 countries in the areas of technology, film, music, philanthropy, arts, food, health and education.  The company is now distributing millions of dollars per month and has the most diverse funding platform in the world.  

“Indiegogo is changing the way people’s dream and passions are funded,” said Slava Rubin, co-founder and CEO of Indiegogo.  “We are excited to be working with Insight Venture Partners and Khosla Ventures as we continue to accelerate our business to bring the power of Indiegogo to more people around the world.”

“Crowd funding has the potential to disrupt commerce and increase innovation,” said Vinod Khosla of Khosla Ventures.  “We are pleased to collaborate with Indiegogo as they build out a new kind of company that can affect millions of lives.”
“Indiegogo is in a unique position with the growth of crowdfunding being fueled with smart technology to make people's passions a reality,” said Jeff Horing, Co-founder and Managing Director at Insight Venture Partners. “We are excited with the talented team, deep technology and broad customer base that Indiegogo has and look forward to working with them in the future.”

Recently, Indiegogo was invited to join President Barak Obama’s White House signing of the JOBS Act that will expand online crowdfunding from perks-based crowdfunding to include equity investments.  On stage with President Obama was Emmy’s Organics, a dessert company from Ithaca, NY that was denied a loan by a local bank before raising $15,000 on Indiegogo.   Another case study in the audience included LuminAID, who raised $50,000 to create and distribute a new inflatable solar light to support disaster relief efforts.

Recent projects on the Indiegogo platform include:

• Angry Video Game Nerd mobilized their YouTube following to contribute $325,000 in funding for a hilarious narrative film.
• The world’s first crowdfunded baby- After being denied by their insurance provider,  Florida couple raised the $8,000 needed for an IVF treatment   that led to the birth of their daughter in April
• Dark Potential – A passionate gamer was able to raise nearly $90,000 (9x their goal) to create the first starter sets for their post-apocalyptic miniature war game.
• Bully – After raising $25,000, this documentary about the bullying crisis in America premiered at Tribeca, and was recently distributed nationally by The Weinstein Company.
• George Clinton – The funkmaster raised $50,000 to save his studio and archive his music.

About Indiegogo
Indiegogo.com is the leading global platform for crowdfunding that empowers anyone anywhere to raise money for anything. Since 2008, Indiegogo has enabled people to launch funding campaigns in 196 countries – including new businesses, philanthropic causes, health initiatives and creative ideas. Indiegogo is headquartered in San Francisco with offices in Los Angeles and New York. For more information, visit www.indiegogo.com and follow at www.twitter.com/indiegogo and www.facebook.com/indiegogo.

B2B-Center, Russia’s leading online procurement platform for businesses to sell or acquire goods and services, announced today that a consortium of investors led by Insight Venture Partners and Da Vinci Capital, and including ALPHA Associates and Runa Capital, has acquired a significant minority stake in the Company. The new investors join existing investors Mail.ru and the Company’s founder, Alexander Boyko.  The investment will be used to support the ongoing growth and expansion of B2B-Center into new vertical markets and new product types.

"B2B-Center is expected to grow at a significant rate triggered by technology improvements, the needs of businesses to improve efficiency and profitability, and open access to the Internet," said Oleg Jelezko, managing partner at Da Vinci. "We are proud to have brought to it a group of first-class international investors and it demonstrates the interest from global institutional investors in high quality Russian companies."

B2B-Center provides an online marketplace for both buyers and sellers of goods to negotiate and transact in a trusted environment. This includes all levels of complex procurement including competitive negotiation, requests for quotations, auctions and all types of government and private tenders. B2B-Center provides more than 30 types of trading procedures, leading to a sophisticated negotiating environment that comprehensively serves the needs of all parties to the transaction.

"This transaction is important for our company. We are the only open joint-stock Russian company in the field of electronic trading that includes foreign investors. This confirms our leading position in the industry, the growth of the company and the success of our chosen strategy", said founder and Chairman of B2B-Center, Alexander Boyko. "In addition, it is a unique deal for the Russian market in terms of the valuation and transaction structure.
 
Martin Angert, vice president at Insight Venture Partners commented further: "The Russian economy is evolving rapidly to transacting and doing business with greater transparency and speed. B2B-Center is at the forefront of this trend, led by its strong and visionary founder".

"B2B-Center is already the leading online procurement platform in Russia in terms of market share and transaction volume; the company will continue to add complementary services and products enabling improved buyer-seller collaboration and procurement efficiency for its users." said Richard Seewald, partner at ALPHA Associates.
"We are extremely excited to become a partner of B2B-Center. This Company effectively sets the gold standard for quality and transparency in the Russian online procurement market", said Serguei Beloussov, senior partner at Runa Capital. "We believe that this market presents a significant growth opportunity, and we will be happy to support the B2B-Center management team with our technology, operations and business development expertise."

About B2B-Center
B2B-Center (www.b2b-center.ru), is the largest operator of an online procurement marketplace in Russia. B2B-Center enables its business clients to list and sell, or find and procure, products and services, and thus extend sales channels for suppliers while improving efficiency in supply chain procurement. Daily trading volumes on B2B-Center are between USD $70-300 million with average transaction sizes of approximately USD $700,000. Today, more than 80% of the business sector’s electronic trading in Russia occurs with the help of B2B-Center and approximately 90,000 clients participate in the marketplace from nearly 80 countries.

About Da Vinci Capital
Da Vinci Capital is one of the leading independent private equity companies focusing on Russia and other CIS countries.  Da Vinci Capital has over $300 million under management and advisory services. The team has focused on leading and innovative medium size companies operating in financial services, IT and other sectors in Russia. Its recent exits include EPAM (IPO on NYSE) and MICEX-RTS merger. www.dvcap.com

About Insight Venture Partners
Insight Venture Partners is a leading private equity and venture capital firm investing in software, eCommerce, internet and data-services companies. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments worldwide. Our mission is to find, fund and work successfully with visionary executives who are driving change in their industries. We provide them with practical, hands-on growth expertise to foster long-term success. Insight invests globally from our headquarters in New York City, but invests globally. For more information, visit insightpartners.com

About ALPHA Associates
ALPHA Associates, based in Zurich, Switzerland, is an independent private equity fund manager and advisor with over $2 billion of assets under management. It builds and manages globally diversified private equity fund portfolios for institutional and private clients. ALPHA Associates is also the leading private equity fund-of-funds manager for Central and Eastern Europe. The team has invested more than EUR 400 million in more than 40 funds and direct investments in Central and Eastern Europe and Russia/CIS since 1998. ALPHA’s direct investment portfolio in CEE and Russia includes AVG Technologies (NYSE:AVG), EPAM Systems (NYSE: EPAM), Ozon, ElMarco and Multimedia Polska  www.alpha-associates.ch

About Runa Capital
Runa Capital is a technology-focused venture capital firm whose investments have created or incubated companies with over $10 billion USD in assets.  It was established to seek growth opportunities in the rapidly growing areas of the tech sector, with specific focus on cloud computing and other hosted services, virtualization and mobile applications. The key execution point is to select promising teams and drive and support them in the global marketplace, turning them into international champions. Runa Capital’s investments announced to date include: Nginx, OnAir3G/Telefir, Jelastic, Metabar, Travelmenu, BigTime® Software, Inc., ThinkGrid, Ecwid, Inc., Capptain. For more information, please visit www.runacap.com

New shareholder invests a double-digit million amount; New partnership a milestone on the road to international expansion

DaWanda, Europe's largest online marketplace for handmade items, today announced a significant investment from New York-based investor Insight Venture Partners, a leading venture capital firm focused on investing in the global software and e-commerce industries. In addition to providing fresh capital for growth financing, Insight has purchased secondary shares held by existing investors, all of whom remain committed to DaWanda. "We are confident that with the help of Insight we will greatly accelerate our international growth while continuing to innovate and develop our marketplace," said Claudia Helming, DaWanda's founder and CEO. "With the investment by an experienced global investor like Insight, DaWanda’s position in Europe is considerably strengthened.”

Specialists in Expansion Financing
Insight Venture Partners is a growth-oriented venture capital firm with focus on software and Internet investments. Insight’s current portfolio companies that have similar business models and growth trajectories to DaWanda’s include consumer-orientated companies such as Twitter,Tumblr and Photobox, as well as German industry giant Trivago, and the coupon site DailyDeal, which was recently acquired by Google, Inc.

"We concentrate on companies on the verge of attaining extraordinary success, providing them with the tools and resources needed to reach the next level”, said Jeffrey Lieberman, managing director of Insight Venture Partners“In DaWanda we have found the company with the best chance of winning in Europe and establishing itself as the clear market leader. Our dedicated internal value-creation team looks forward to sharing the best practices we have developed through our near twenty years of experience working with similar technology-based companies."

Personnel increase in full swing
Insight’s investment follows on the heels of a four million financing round in November 2011. DaWanda has made significant progress since then, expanding the number of employees from 60 to over 90 with additional hires planned. DaWanda is also preparing to open the first of its international branches in Paris, with other locations slated to follow later in the year. As part of the transaction, Brad Twohig, vice president at Insight will join DaWanda’s Board of Directors, alongside existing company directors and management.

About DaWanda
DaWanda is the online marketplace for unique and handmade products. Going against the grain of industrialised mass production, DaWanda provides a meeting point for people who know how to appreciate the special qualities of unique and handmade items, and are interested in buying fashion, jewellery and home items. At www.dawanda.com, around 130,000 designers offer over 2 million products for sale, with ca. 7,000 new products added daily. DaWanda was founded by Claudia Helming and Michael Pütz in December 2006, and today has around 1.7 million members. The company is based in Berlin. In studies undertaken by the German language Startup-Monitor of ethority GmbH & Co.KG, DaWanda was elected several times as the favourite startup of internet users.

About Insight Venture Partners
Founded in New York in 1995, Insight Venture Partners is a leading growth-oriented, entrepreneur-focused private equity and venture capital firm focused on expansion and late stage investments in the global software, Internet and data services industries. Insight’s team is composed of experienced investors and operating executives with more than 150 years of collective experience in its focal industries. With over $5 billion raised since its inception and a large network of technology experts, Insight provides strong support and consulting expertise to its portfolio companies. In 2009, Insight was named among the Top Ten VCs Globally by Red Herring Magazine.

Kinnser Software announced today that it has secured Series A financing from Insight Venture Partners, a leading global software and Internet investment firm.

The $40 million investment will enable Kinnser to expand its software and organizational-development efforts to support its rapidly growing customer base. In addition, the funding will be used to accelerate the national rollout of Kinnser's sales and marketing campaign.

Kinnser provides services to more than 55,000 users working in more than 900 home health agencies and therapy providers nationwide. Revenue at Kinnser has grown more than 80 percent annually since the company was founded in 2003.

"There is no industry that is better served by a SaaS application than home health," said Kinnser President Christopher Hester. "The ability to have 'anytime-anywhere' access to patient records and business intelligence helps clients immensely in providing quality care.''

INC. magazine has recognized Kinnser as one of the fastest growing 500 private companies in the United States in both 2010 and 2011.

"We are greatly impressed with Kinnser's product leadership, passionate customer base and track record of strong, profitable growth," said Richard Wells, Managing Director at Insight Venture Partners. "Insight is thrilled to be able to partner with the Kinnser team in their continued growth."

Wells and Peter Sobiloff, also a Managing Director at Insight, will join Kinnser's board of directors.

About Kinnser Software

Kinnser Software creates innovative, Web-based software solutions that deliver clinical and business results to the home health industry. Founded in 2003, Kinnser has been ranked by Inc. Magazine as one of the top 500 fastest growing companies in the US for the past two consecutive years. More than 53,000 home health professionals depend on Kinnser Software. Kinnser's headquarters are in Austin, Texas.

About Insight Venture Partners

Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight has a successful two-team structure: its investment team evaluates thousands of companies globally each year; its Insight Onsite team of consultants works with growth-stage management to provide resources and advice to allow them to achieve long-term success. For more information, visit: www.insightpartners.com.

Company's second institutional round of investment confirms the Company's startup potential and will support expansion plans

Elo7, the first and largest marketplace for buying and selling handicraft products in Brazil, today announced it has raised capital from Insight Venture Partners, a private equity and venture capital firm focused on investing in the global software, e-commerce, and Internet industries. The new capital will be used to accelerate marketing initiatives, invest more in building the technology platform, recruit industry expertise and strength Elo7's community of artisans. Insight Venture Partners is an existing investor in companies, like Twitter, Tumblr, Privalia and Groupalia.

In September 2011, Elo7 received a first round of capital from Monashees Capital a premium investor in Brazilian venture capital, and Accel Partners, one of the most recognized investment firms in Silicon Valley.

"Our first investment enabled us to build and develop key areas of Elo7, as well as confirm the potential of the business through achieving year-over-year growth of 100% in 2011," said Carlos Curioni, Chief Executive Officer at Elo7. "Insight´s investment represents a new phase for the Company to consolidate its online leadership in the sale of craft products".

"Insight believes that Elo7 will continue its rapid growth through adding new handicraft vendors, which will, in turn, attract more buyers", said Jeff Lieberman, Managing Director at Insight Venture Partners. "Brazilian's produce innovative and high quality handicrafts and Elo7 represents the best marketplace for artisans to showcase their products, and for buyers to find what they want. Insight looks forward to working with management to help them consolidate and strengthen their market-leading position."

About Elo7
Founded in 2008, by entrepreneurs Julian and Monica Ipolito, Elo7 is a handcraft marketplace that aims to foster trade handicraft products on-line, providing and easy and safe platform, for both the buyer and the seller. Currently, the site has more than 75 thousand registered craftsmen with over 1.5 million products advertised to the world. The site has more than 40 million pageviews and 5 million visits per month.

About Insight Venture Partners
Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, e-commerce, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight has a successful two-team structure: each year the firm's investment team evaluates thousands of companies globally; while the Insight Onsite team of operations and strategy experts works with growth-stage management to provide resources and advice to enable them to achieve long-term success.

The Raine Group and Insight Venture Partners Will Help the Global Multimedia Company Fill Zumba Classes and Spur Growth Opportunities for Zumba Instructors

Zumba Fitness, the global multimedia fitness leader and creator of the acclaimed Zumba dance-fitness party workout, announced today that The Raine Group and Insight Venture Partners made a minority investment in the company. The strategic partnership will further grow and optimize the company’s digital and media footprint, generating even more mass awareness for the global brand. The partnership will bring new benefits to all members of the Zumba community including class participants, instructors, fitness facilities and the health and fitness industry.

This strategic partnership will allow us to unlock the potential of our brand for years to come, said Alberto Perlman, CEO of Zumba Fitness. As when we founded Zumba, the success of our instructors and their ability to improve the lives of Zumba enthusiasts is what continues to drive us. With Raine’s media and entertainment resources and Insight’s technology and social media expertise, we’re perfectly positioned to make Zumba the premier lifestyle brand.

Since its inception more than ten years ago, Zumba Fitness has proven that it bridges an important gap - a dance fitness workout that is appealing to both casual enthusiasts and active lifestyle consumers looking for a fun and energizing workout.

“What the founders, management team and Zumba instructors throughout the world have accomplished in the last ten years is truly remarkable,” said John Salter, a partner at Raine. The intersection of sports, fitness and lifestyle is a key focus of our firm, and we are extremely excited to have Zumba as partners. We look forward to their continued leadership as we help them to further consolidate their strong position and accelerate their growth into major international markets for many years to come.

“As technology investors, we are extremely impressed by how Zumba’s founders are leveraging media and technology to build value for their community in dance studios, gyms and online,” said Jeff Horing, founder of Insight Venture Partners. “We are excited to be partnering with the Zumba Fitness team, and look forward to leveraging our technology expertise to continue improving the experience for Zumba instructors and participants, as well as assist in Zumba’s growth worldwide.”
In connection with the partnership, Zumba also announced that WME Entertainment, a strategic partner of Raine, will work with the Company to further build the global Zumba brand. “Zumba Fitness is an international phenomenon that has helped improve tens of millions of lives around the world,” said Ari Emanuel, co-CEO of WME Entertainment. “Through this partnership, we will create unprecedented brand awareness and an infectious fusion of entertainment and fitness. I am thrilled to work with a brand that does so much good for so many people and that has such enormous potential.”

The Zumba Fitness lifestyle is rounded out by the company’s many consumer product offerings, including DVD sets, music collections, multi-seasonal apparel and footwear, video games, Fitness-Concert(TM) events and a lifestyle magazine. Following this transaction, current Zumba Fitness leadership will continue to own and control all operations of the Zumba brand. For more information about Zumba Fitness programs and products, or to find a live class, visit zumba.com

About Zumba Fitness, LLC
Zumba Fitness is a global lifestyle brand that fuses fitness, entertainment and culture into an exhilarating dance-party workout. Coined fitness-parties, Zumba classes blend upbeat world rhythms with easy-to-follow choreography, which provide effective, total-body workouts. Founded in 2001, the company is now the largest branded fitness program in the world-reporting more than 12 million weekly class participants, in over 110,000 locations, across more than 125 countries. In addition to its original Zumba program, the company also offers a range of specialty classes, including Zumba Gold (for active older adults), Zumba Toning (body-sculpting class that uses maraca-like Toning Sticks), Aqua Zumba (the ultimate pool party workout), Zumbatomic (Zumba routines for kids), Zumba Sentao(TM) (chair-based Zumba class that strengthens, balances and stabilizes the core) and Zumba in the Circuit (a 30-minute workout that combines signature Zumba moves with circuit training at timed intervals). The Zumba fitness lifestyle is rounded out by the company?s many consumer product offerings, including DVD sets, music collections, multi-seasonal apparel and footwear, video games, Fitness-Concert(TM) events and a lifestyle magazine. For more information about Zumba Fitness programs and products, or to find a live class, visit zumba.com and find us on Facebook and Twitter.

About the Raine Group
The Raine Group is a global merchant bank focused exclusively on entertainment, digital media, and sports & lifestyle. Founded in 2009 by Joseph Ravitch and Jeffrey Sine, in partnership with WME Entertainment, Raine has offices in New York, Los Angeles, Palo Alto and Beijing. With a global reach, Raine focuses on growth equity investments where its deep industry experience and unique network of strategic relationships, limited partners and advisory board members can create value for portfolio companies. For more information, visit: www.raine.com .

About Insight Venture Partners
Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight has a successful two-team structure: its investment team evaluates thousands of companies globally each year; its Insight Onsite team of consultants works with growth-stage management to provide resources and advice to allow them to achieve long-term success. For more information, visit: www.insightpartners.com .

Zumba Fitness legal advisor for this transaction was a team led by Daniel Ganitsky of Proskauer Rose. The Raine Group and Insight Venture Partners were advised by a legal team led by Ilan Nissan of Dewey & LeBoeuf.

Drilling Info and Insight Venture Partners today announced that Insight is leading a $165 million equity investment in Drilling Info, the Austin-based data intelligence provider to the oil and gas industries.  

Proceeds from the investment will go toward continued expansion of Drilling Info's SaaS-based data and analytics offerings and to Drilling Info's early investors.  

"This is a great opportunity for Drilling Info to accelerate the achievement of our organization's goals while providing rewards to our early investors,'' said Allen Gilmer, Chairman and CEO of Drilling Info. "Insight is perfectly positioned to help us achieve our vision. Our management team, which has deep roots in the energy business, is eager to work with Insight's team to further improve the quality and quantity of offerings for customers."

The partnership with Insight, a New York growth equity and venture capital firm, will enable Drilling Info to speed the creation and delivery of new products and features that provide better value to its members in the upstream oil and gas industry, as well as other sectors that service and invest in the energy business.

Drilling Info serves a wide spectrum of the oil and gas industry, ranging from the largest global enterprises to independent drillers, service providers and investors. The company's Drillinginfo tools provide the most recent research and information, such as land title, leases, well completion and well production data, that allow customers to make well-informed decisions and maximize returns on investment.

With the increase in unconventional exploration by the industry, Drilling Info has seen a surge in global demand for intelligence and benchmark information around best practices. Companies seeking to invest in shale reserves are looking to Drilling Info to provide them with information that helps ensure cost-effective and environmentally safe drilling and extraction processes.

"We are very excited about this investment,'' said Deven Parekh, managing director at Insight. "As the United States continues on a path toward energy independence through both conservation and exploration, Drilling Info's data intelligence tools become even more essential for the oil and gas industries. Insight is convinced that Drilling Info will benefit greatly from the trend toward increased investment in unconventional energy exploration globally. ''

"Drilling Info's core culture will not change,'' Gilmer said. "We remain committed to our customers as well as the oil and gas industry as a whole. We will continue to promote our customers' ability to make better and faster oil and gas decisions as they step up to meet the world's growing needs for more energy.''

Insight is joined in the deal by Battery Ventures and Eastern Advisors Private Fund. Vaquero Capital acted as advisors to Drilling Info during this process.

About Drilling Info

Drilling Info accelerates workflows and business critical decision processes for the oil and gas industry resulting in faster, smarter, safer exploration and production of global resources with our comprehensive array of information, intelligence and analysis platforms. Drilling Info has more than 2,700 accounts globally with more than 20,000 users. Drilling Info members produce more than 90 percent of domestic oil and gas in the United States. The Company is headquartered in Austin, Texas and has offices throughout the U.S oil patch in addition to the UK, Southeast Asia, and South America. For additional information please visit www.info.drillinginfo.com

About Insight Venture Partners
Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight has a successful two-team structure: its investment team evaluates thousands of companies globally each year; its Insight Onsite team of consultants works with growth-stage management to provide resources and advice to allow them to achieve long-term success. For more information, visit: www.insightpartners.com.

About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm has partnerships with entrepreneurs and management teams across technology sectors, geographies and stages of a company's life, from seed, start-up and expansion financing, to growth equity and buyouts. Battery has supported many breakthrough companies around the world. From offices in Boston, Silicon Valley and Israel, Battery manages nearly $4B in committed capital, including its current fund of $750M. For more information, visit www.battery.com.

About Eastern Advisors Private Fund
Eastern Advisors seeks to invest in expansion-stage technology companies that are interested in leveraging Eastern's vast network of corporate executives, successful entrepreneurs and investment professionals to drive sales and facilitate partnerships with the larger business community. Eastern targets rapidly growing companies worldwide within a variety of sectors, including, but not limited to, software, Internet services, e-commerce and digital media. For more information, visit  www.easternadvisors.com.

Insight Venture Partners, a leading software and Internet-focused New York private equity and venture capital firm, is pleased to announce the appointments of Richard Wells and Alex Crisses as Managing Directors of the firm.

"Richard and Alex have been instrumental in the success of Insight during the past decade and will provide superb leadership as partners,'' said Jeff Horing, Managing Director of the firm.  "They will be instrumental in helping us deploy the $2 billion of capital we raised last year, and will continue to work closely with executives at their respective portfolio companies, with whom they've developed strong trust.''

About Alex Crisses

Crisses, 31, is a 10-year veteran at Insight and focuses on infrastructure software and Internet investments.  Prior to joining Insight, Crisses worked as an investment- banking analyst at Credit Suisse First Boston. A graduate of the Wharton School of Business, he also earned an MBA and graduated as a Baker Scholar from the Harvard Business School.  He lives in New York with his wife and daughter.

At Insight, Crisses has served on the Board of Directors for the following companies: GFI Software, TeamViewer, 6 Waves and Jagex Limited.  Formerly he served on the board of Ticket Monster (acquired by LivingSocial).

About Richard Wells

Wells, 34, joined Insight in 2005 after working at Technology Crossover Ventures, Veritas Software (now part of Symantec) and Paciolan Systems (now part of Ticketmaster.)  He graduated with highest honors from the University of Pennsylvania and earned an MBA at the Harvard Business School. A Southern California native, he lives in New York with his wife and son, but proudly roots for the Boston Red Sox.

Wells serves on the Boards of Directors for the following companies: Enigma , BeyondTrust, HealthcareSource, Metalogix, PHD Virtual and Smartbear Software. Previously he served on the boards of Netsmart Technologies (acquired by Genstar Capital) and Primavera Systems (acquired by Oracle Corp.)

About Insight

Insight Venture Partners is a leading private equity and venture capital firm focused on the global software, Internet and data-services industries. Founded in 1995, Insight has raised more than $5 billion and made more than 150 investments. Insight has a successful two-team structure: its investment team evaluates thousands of companies globally each year; its Insight Onsite team of consultants works with growth-stage management to provide resources and advice to allow them to achieve long-term success. For more information, visit: www.insightpartners.com

Google: Our best deal yet

When DailyDeal was founded in Berlin back in December 2009, there was just two of us. Since then, we have seen tremendous growth, as people throughout Germany, Austria and Switzerland have used DailyDeal to find local deals on their favorite restaurants, travel destinations, entertainment venues and retail outlets.

Our team has grown too, and with it, our vision for DailyDeal. We see great opportunity to better connect businesses with consumers on a much larger scale, and we have found a team that shares our vision.

That's why we're excited to announce that we've been acquired by Google! What began as a two-person startup less than two years ago has transformed into a trusted platform to connect businesses with consumers. By combining our expertise with the Offers team at Google, we hope to expand our efforts to provide even greater deals to consumers.

The DailyDeal team

NEWS SOURCE: http://dailydeal.de/en

LivingSocial, the online and mobile source for great local values and experiences, today announced it has signed a definitive agreement to acquire TicketMonster Inc., the leading social commerce website in South Korea, subject to Korean regulatory approval. Founded in 2010, TicketMonster offers daily and instant deals, travel packages, and events to more than 2 million members in Korea and Malaysia.

"TicketMonster is one of Korea's most recognized and trusted brands in the nascent daily deal industry, and we are excited to bring them into the LivingSocial family," said Tim O'Shaughnessy, CEO and co-founder of LivingSocial. "TicketMonster and LivingSocial share the same culture of innovation, customer focus and fun, and we believe that the benefits we bring to consumers can be extended to other markets in Asia and around the world."

Following regulatory review and approval, the acquisition of TicketMonster will bring the total number of countries LivingSocial operates in to 23. Other countries in Asia with LivingSocial operations include the Philippines, Thailand and Indonesia, through the Ensogo and DealKeren acquisitions announced earlier this summer.

"Like LivingSocial, TicketMonster has always focused on providing great values to our members while helping our merchant partners reach new, loyal customers," said Daniel Shin, CEO of TicketMonster. "Joining LivingSocial will give TicketMonster the resources, scale and reach to bring our business to the next level across the region while providing even better services for our customers. We believe that this deal will advance the interests of our merchants, our members, and all Korean consumers."

Among other new features, TicketMonster recently launched its location-based service TMON NOW, a real-time deal service connecting local merchants and customers who are searching for their services.

Terms of the deal were not released.

After closing, TicketMonster's 600 employees will become part of the LivingSocial team.

About LivingSocial

LivingSocial helps people around the world find, share and enjoy great local deals and new experiences. We'll help you get more out of your city. Through its daily deal e-mails and alerts, LivingSocial introduces members to handpicked local businesses, products or services each day at savings of 50 percent or more. With a range of products for different interests, like Families and Adventures, LivingSocial helps delight members with the perfect deal for them. Other services include LivingSocial Escapes, which features easy "vacations in a box" to leading destinations, and LivingSocial Instant, which helps members discover real-time discounts at nearby restaurants, stores and businesses. LivingSocial works with each merchant partner to create customized marketing solutions that attract and retain loyal, long-term customers. Based in Washington, D.C., LivingSocial has more than 40 million members in 21 countries.

NEWS SOURCE: www.livingsocial.com

Insight Venture Partners today announced the closing of two new funds with a combined $2 billion in investor commitments.

Insight Venture Partners VII has received approximately $1.5 billion of institutional commitments and approximately $70 million of affiliate and friend commitments. Insight Venture Partners Coinvestment Fund II, which has been established for co-investments in larger deals, received $450 million in commitments.

Similar to Insight's prior funds, Fund VII will be invested in businesses focused on the global software and Internet services industries, with capital deployed in both minority and control transactions.

"Fund VII demonstrates our ongoing commitment to help companies achieve their strategic and operational goals while building value for customers and investors," said Jeff Horing, Insight Venture Partners' co-founder and managing director. "Our investors support our dual approach of providing portfolio companies with financial flexibility and dedicated business expertise. We appreciate their ongoing guidance and their continued commitment to Insight through these investments in Fund VII."

The significant majority of Insight's existing investors committed capital to the new funds. Since its inception in 1995, Insight has received total commitments of more than $5 billion. These new funds will enable Insight to invest up to $150 million per transaction.

Insight's most recent fund, Fund VI has invested in more than 25 companies, a number of which are headquartered outside the United States.

Insight helps companies grow by providing dedicated consulting assistance and expertise. The firm has developed strong capabilities and a global network in infrastructure software, new media and Internet deals, enterprise application software and software-enabled services.

"Our focus is to build businesses that deliver sustainable value over the long term," said Deven Parekh, managing director at Insight. "We look forward to continuing to provide growth-stage entrepreneurs in our target investment segments with tailored financing opportunities and strong operational assistance."

About Insight Venture Partners

Founded in New York in 1995, Insight Venture Partners is a leading growth-oriented, entrepreneur-focused private equity and venture capital firm focused on expansion and late stage investments in the global software, Internet and data services industries. Insight's team is composed of experienced investors and operating executives with more than 150 years of collective experience in its focal industries. With over $5 billion raised since its inception and a large network of technology experts, Insight provides strong support and consulting expertise to its portfolio companies. In 2009, Insight was named among the Top Ten VCs Globally by Red Herring Magazine.

NEWS SOURCE: www.insightpartners.com

Limeira- KaBuM!, the leading independent Brazilian online retailer of consumer electronics and technology goods, today announced a minority investment led by Insight Venture Partners. The funds will be used to accelerate growth within Brazil, as well as fuel expansion to neighboring markets in South America. As part of the transaction, Nnamdi Okike, a vice president at Insight Venture Partners will join the Board of Directors, along with co-founder and chief executive officer, Leandro Ramos. "We are pleased to announce our partnership with Insight in this rapidly growing market and to secure an investment that will enable us to build additional inventory, deepen our catalog of products and improve customer service," said Leandro Ramos, co-founder and CEO of KaBuM! "We are aggressively growing in Brazil to strengthen our leadership position and already planning KaBuM!s expansion into neighboring geographies."

Since founding in 2003, KaBuM! has quickly grown to be Brazil's largest independent e-commerce provider of technology goods, including computers, computer components, and other consumer electronics. The business has a strong focus on direct consumer sales, servicing more than 600,000 users, as well as a growing small-medium business division that currently supplies over 25,000 businesses across the country.

"KaBuM! is one of the fastest-growing online retailers that we have seen. We believe that KaBuM! has the ability, the team, and the strategy to be the leader in Brazil and other South American markets," said Nnamdi Okike, Vice President at Insight Venture Partners.

KaBuM! uses its proprietary price comparison engine to obtain competitive prices on its inventory, passing savings of up to 30% on select goods to its consumers. KaBuM!'s team of 130 employees based in Limeira, Brazil provide next-day shipping and nationally recognized customer support. KaBuM! was also recently recognized in Brazil's INFO Exame magazine as the 15th best rated internet retailer in Brazil. The company is profitable and has sustained impressive growth over the past several years.

About KaBuM!

KaBuM! is a leading Brazilian ecommerce provider offering consumer electronics and technology products at competitive prices to consumers and small-businesses. In 2010, KaBuM! was named the 15th best internet retailer in Brazil by INFO Exame magazine. The company was founded in 2003, by brothers Leandro and Thiago Ramos and is located in Limeira, Brazil.

About Insight Venture Partners

Founded in New York in 1995, Insight Venture Partners is a leading growth-oriented, entrepreneur-focused private equity and venture capital firm focused on expansion and late stage investments in the global software, Internet and data services industries. Insight's team is composed of experienced investors and operating executives with more than 150 years of collective experience in its focal industries. With over $4.5 billion raised since inception and a large network of technology experts, Insight provides strong support to its portfolio companies. In 2009, Insight was named among the Top Ten VCs Globally by Red Herring Magazine.

NEWS SOURCE: www.kabum.com.br

Private Equity Firm to Support Netsmart's Continued Growth and Expansion as Meaningful Use Incentive Funding Spurs Demand for New Software and Technology

Netsmart Technologies, a leading provider of software and services for health and human services organizations, today announced an agreement with Genstar Capital, LLC, a San Francisco-based private equity firm. Genstar will provide the capital and strategic healthcare expertise to help Netsmart manage continued growth and expand its solutions to meet the needs of its customers in an increasingly complex industry environment. Genstar's investment focus includes selected segments of the software, healthcare services, life sciences, financial services, and industrial technology industries.

Netsmart provides software as a service (SaaS), self-hosted software solutions and project implementation services to more than 18,000 customer organizations in all 50 states, including 350,000 care providers and 40 state-level mental health systems. Netsmart customers include mental health and substance abuse treatment agencies, psychiatric hospitals, private and group mental health practices, public health departments, intellectual and developmental disabilities organizations, vital records offices and managed care organizations.

"The additional capital resources and strategic healthcare experience on our board of directors provided by Genstar will help us further invest in and expand R&D;professional services and other key areas as we develop solutions to meet fast-evolving industry requirements," said James L. Conway, chief executive officer, Netsmart Technologies. "This includes helping our customers meet the criteria for Meaningful Use funding so they qualify for the billions of dollars in Medicaid and Medicare incentive funds available over the next several years."

The partnership with Genstar builds on Netsmart's existing strong foundation as the company continues to focus on creating long-term value for its customers.

"We are impressed with Netsmart's industry leadership, breadth of solutions and large, active customer community," said Mark Hanson, managing director, Genstar Capital. "The capital investment required to meet ARRA certification and other Meaningful Use requirements will lead to vendor consolidation in behavioral health similar to the provider consolidation already occurring. With Genstar's long-term investment and commitment, Netsmart will be well-positioned to continue to lead that trend with the organic and acquisition-based growth required to help it meet market and customer needs."

Genstar will support Netsmart's continued involvement in key industry issues on behalf of its customers. Examples include Netsmart's leadership role advocating corrective legislation to extend eligibility for Meaningful Use incentives to additional behavioral health providers and professionals; and joining behavioral health industry associations and providers to oppose significant funding cuts for mental health services in California.

Netsmart's previous equity partners were New York-based Insight Venture Partners, Bessemer Venture Partners and Salmon River Capital.

"We were pleased to help Netsmart achieve above-market growth rates over the last three years, invest in Meaningful Use, and lead industry efforts to include behavioral health as eligible for Meaningful Use incentive funds," said Larry Handen, managing director, Insight Venture Partners.

"As a longtime customer, we value Netsmart's combination of corporate stability, innovation, deep software functionality, staff expertise, and long-term commitment to its customers and their needs," said M. Joseph Rocks, chairman and chief executive officer of NHS Human Services, one of the nation's largest non-profit human service providers. "Based on their past track record, we're confident they will utilize Genstar's capital and long-term vision to continue to grow as a customer-focused technology partner and as the vendor best equipped to help its customers be successful in their missions to provide quality care."

William Blair & Company acted as exclusive financial advisor to Netsmart Technologies in this transaction.

About Genstar Capital, LLC

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has more than US$3 billion of committed capital under management and targets investments focused on selected sectors within the software, healthcare services, life sciences, financial services, and industrial technology industries.

About Netsmart Technologies, Inc.

Netsmart Technologies (www.ntst.com) is an established, leading supplier of enterprise software and software as a service (SaaS) solutions for health and human services providers. More than 18,000 customer organizations, including 350,000 care providers and 40 state systems, use Netsmart products to help improve the quality of life for millions of people each year.

Netsmart customers include mental health and substance abuse treatment agencies, psychiatric hospitals, private and group mental health practices, public health departments, intellectual and developmental disabilities organizations, vital records offices and managed care organizations. Netsmart's products are full-featured information systems that operate on a variety of operating systems, hardware platforms, and mobile devices, and offer unlimited scalability.

Netsmart provides expertise and solutions that help its customers meet the evolving definition of "meaningful use" under the American Recovery and Reinvestment Act (ARRA) of 2009. These include experience in electronic health record certification, the InfoScriber TM e-prescribing service, the Netsmart CareConnect TM service that enables the sharing of clinical information through health information exchanges, the Netsmart ConsumerConnect TM Web portal to provide consumer access to their care information, and a flexible platform to capture and share outcomes data.

Netsmart's Connected Care initiative allows behavioral and public healthcare providers to share clinical data electronically within their internal processes, externally with other providers, and with consumers via a Web-based portal, enabling high quality, consumer-directed care.

NEWS SOURCE: www.netsmart.com

Amsterdam, Netherlands; 7th April 2010 - Studio Moderna Holdings B.V., (Studio Moderna Group, the Company) a leading electronics and consumer products retailer in Central and Eastern Europe (CEE), today announced that a group of investors, co-led by Insight Venture Partners and Templeton Strategic Emerging Markets Fund III, LDC (TSEMF III), has acquired a minority stake in the Company. Among others, JH Partners joined the co-leads in this transaction. The funds were primarily used to purchase secondary shares. Larry Handen from Insight Venture Partners and Matjaz Schroll from Templeton Strategic Emerging Markets Fund III will be joining the Board of Directors.

"We are beginning to realise the potential in our chosen markets and see great opportunities for Studio Moderna," said Sandi Cesko, Chairman of the Studio Moderna Group. "Our new investors have recognized our achievements to date, and are supportive of our vision for the Company's expansion. We believe their presence will strengthen Studio Moderna and contribute to its future growth."

Studio Moderna is a fast-growing, profitable direct-marketing company in the CEE region reaching more than 400 million consumers through its multi-channel distribution network. The Company owns Top Shop, one of the best-known TV shopping brands in the region, which markets online and through dedicated TV programming, subsequently selling products via its e-commerce shop, in-mall kiosks and high street retail stores. Top Shop markets a diverse range of consumer products, including home-related, do-it-yourself, fitness, health and music and video offerings. A key component of Studio Moderna's success derives from the Company's ability to localise these products and adapt their marketing to the specific market needs of each country. Studio Moderna also develops and sells its own proprietary products under the well-known brand names Dormeo and Kosmodisk.

"For more than a decade, Studio Moderna has committed itself to delivering value to its customers", said Larry Handen, Managing Director of Insight Venture Partners. "This commitment, coupled with a technologically sophisticated commerce platform, makes Studio Moderna a leader in the e-commerce and multi-channel marketing industry. We look forward to being a part of the Company's continued growth and profitability."

Mark Mobius, Executive Chairman of Templeton Asset Management Ltd (Templeton Emerging Markets Group), investment managers to the TSEMF III added: "We are very pleased to join Studio Moderna as investors. We have been impressed by the quality of management and the excellent value provided on a local level to consumers. The Company is well-positioned to scale and take advantage of the significant opportunity it has created in Central and Eastern Europe".

"Studio Moderna's business model has proved to be very successful during the past 18 months, when the Company significantly outperformed most of its competitors in Central and Eastern Europe. We are confident that the strengths of Studio Moderna's unique business model will become even more evident in the future", said Matjaz Schroll, Executive Director of the Templeton Emerging Markets Group.

About Studio Moderna Group

Studio Moderna is the leading electronics and consumer products retailer in Central and Eastern Europe doing business through a vertically integrated, multi-channel sales, media, marketing and distribution platform. With successful operations in 20 countries, Studio Moderna adapts each product to meet local market needs, employing its proven platform to market and sell home-grown and in-sourced products to consumers. Founded in 1992, the Group began as a direct response television (DRTV) company and has evolved to become a unique provider of a multi-channel marketing, sales and distribution platform that reaches more than 400 million consumers daily in CEE region. To learn more about Studio Moderna, go to www.studio-moderna.com

About Insight Venture Partners

Founded in New York in 1995, Insight Venture Partners is a leading growth-oriented, entrepreneur-focused private equity and venture capital firm focused on expansion and late stage investments in the global software, Internet and data services industries. Insight's team is composed of experienced investors and operating executives with more than 150 years of collective experience in its focal industries. With over $3 billion raised since inception and a large network of technology experts, Insight provides strong support to its portfolio companies. In 2009, Insight was named among the Top Ten VCs Globally by Red Herring Magazine. www.insightpartners.com

About TSEMF III

TSEMF III, a Limited Duration Company incorporated in the Cayman Islands and available only to institutions and sophisticated investors makes strategic investments throughout emerging markets. TSEMF III is managed by Templeton Asset Management Ltd (TAML), which has 15 offices located throughout emerging markets. TAML's emerging markets investment team is headed by Dr. Mark Mobius and managed approximately US$33.4 billion as of February 28, 2010.

TAML is a subsidiary of Franklin Resources, Inc. (FRI) (NYSE: BEN), a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust investment teams. The San Mateo, California-based company has more than 50 years of investment experience and approximately US$556.3 billion in assets under management as of 28 February 2010.

About JH Partners

JH Partners is a San Francisco-based private equity firm focused on building sustainable, long-term equity value in consumer and marketing-driven growth companies.

JH Partners' professionals work closely with the management teams of partner companies, providing strategic, operating and financial guidance to facilitate the growth and success of these companies and to provide meaningful returns to investment and management partners.

JH Partners' relationships with management are long-term in nature, which enables JHP to provide close collaboration over a range of strategic issues. The principals of JH Partners have invested, on behalf of themselves and their co-investors, approximately $600 million and are currently investing a $390 million fund raised in 2008. JH Partners' principals consistently commit significant amounts of personal capital to JHP investments and view themselves as co-investors, not money managers.

Media Contacts

For Studio Moderna

Sandi Cesko, Sandi.Cesko@studio-moderna.com; +386 1 58 99 700

For Insight Venture Partners

Lauren Bonett, lbonett@insightpartners.com; +1 212.230.9262

For TSEMF III

Mae Loon, Corporate Communications, mloon@templeton.com , +65 6432-9726

For JH Partners

Pat Collins, Collins@JHPartners.com; +1 415.364.0300

NEWS SOURCE: www.studiomoderna.com

Hong Kong-Six Waves Inc. (6 waves), Asia's largest social game publisher, today announced that Insight Venture Partners, a leading global technology and internet investment firm, invested $17.5 million in the company. The investment will be used to build infrastructure and a distribution pipeline to consolidate 6 waves' strong market share on the Facebook platform and support the Company's international expansion and platform extension.

SAN FRANCISCO—Twitter, Inc. announces new round of funding. Co-founder Evan Williams writes: There's a lot of talk today about our financing. Yesterday we closed a significant round of funding with a group of investment firms that we're excited to publicly thank: Insight Venture Partners, T. Rowe Price, Institutional Venture Partners, Spark Capital, Benchmark Capital, and Morgan Stanley.

NEW YORK — June 25, 2009 — Medidata Solutions, a leading global provider of hosted clinical development solutions, today announced the pricing of its initial public offering of 6,300,000 shares of common stock at $14.00 per share. In addition, selling stockholders have granted the underwriters a 30–day option to purchase up to 945,000 shares of common stock at the initial public offering price to cover over-allotments, if any. Medidata's common stock will commence trading on the NASDAQ Global Market on June 25, 2009, under the ticker symbol "MDSO."

Citi and Credit Suisse Securities (USA) LLC acted as joint bookrunning managers for the proposed offering. Jefferies & Company, Inc. and Needham & Company, LLC acted as co-managers.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on June 24, 2009. Any offer or sale will be made only by means of a written prospectus forming part of the effective registration statement. A copy of the final prospectus may be obtained directly from:

Citi
Brooklyn Army Terminal
140 58th Street, 8th Floor
Brooklyn, N.Y. 11220
Telephone: (800) 831-9146

Credit Suisse Securities (USA) LLC
Prospectus Department
One Madison Avenue
New York, N.Y. 10010
Telephone: (800) 221-1037

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale, offer or solicitation of these securities in any state or jurisdiction in which such sale, offer or solicitation would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.

NEWS SOURCE: www.mdsol.com

SolarWinds (SWI Quote) became the first venture capital-backed company to go public in nearly a year after its initial public offering priced above the expected range, something President and COO Kevin Thompson called a "positive sign" for small companies in need of capital.

NEW YORK—(BUSINESS WIRE)—May 7th, 2009—HauteLook, the exclusive members'-only shopping club, today announced a significant funding commitment led by Insight Venture Partners with the completion of the first $10 million tranche. Jeff Lieberman, Managing Director at Insight, will join HauteLook's board.

The Nielsen Company today announced that it has signed a definitive agreement to acquire IAG Research, Inc. for a purchase price of $225 million. IAG is a privately held company based in New York that measures consumer engagement with television programs, national commercials and product placements.

NEW YORK, NY Medidata Solutions, a global provider of electronic data capture (EDC), management and reporting solutions, today announced the completion of its acquisition of Fast Track Systems, Inc., a provider of clinical trial planning software, proprietary contracting data and professional services. With this acquisition, Medidata extends its ability to serve customers throughout the clinical research process with technologies that improve efficiencies in protocol development and trial planning, contracting and negotiation.