Vericept Corporation Secures $12.5 Million in New Financing to Expand Leadership Position

Vericept Corporation Secures $12.5 Million in New Financing to Expand Leadership Position

Andrew Goldfarb of Globespan Capital Partners Named to Board of Directors

ENGLEWOOD, Colo., Feb. 9 /PRNewswire/ -- Vericept Corporation, the leading provider of Intelligent Compliance and Content Control Solutions, today announced that it has secured $12.5 million in additional financing to sustain and grow its leadership position. The round was led by Globespan Capital Partners along with all of Vericept's existing capital partners, including: Sigma Partners, William Blair Capital Partners and Sequel Venture Partners.

"Vericept had substantial growth in 2004 in terms of new customers, quarter to quarter growth and annual financial results which maintained and expanded our leadership position in the market," said Tery Larrew, President and CEO of Vericept Corporation." This additional capital will enable us to expand our leadership position through growth of our sales, marketing and technology initiatives which will provide significant increase in valuation for the Company. We are pleased that Globespan shares our vision for the growth potential of Vericept and this market."

"We are excited to take the lead role in this round of financing and believe that mitigating the insider threat is the next layer of security protection that organizations must address," said Andrew Goldfarb, Executive Managing Director for Globespan Capital Partners. "Vericept is the clear leader in this space and we are impressed with their innovation and ability to execute. We are excited to assist them in fueling the future growth and global expansion of the company."

Globespan Capital Partners, the lead investor in the round, is an independent venture capital firm focusing on information technology. Globespan has a unique position in the U.S. venture capital industry due to its ability to provide portfolio companies access to Asian customers and partners. Globespan manages several funds, including JAFCO America Technology Fund III and Globespan Capital Partners IV. Some of the firm's investments include Aptis, Argon, Avanex, Brocade, Copan Systems, Digital Island, edocs, Ingrian Networks, Monterey Networks, Net Perceptions, Obsidian, Ocular, Pirus, Q1 Labs, Sentient Networks, Silknet Software and Trigo Technologies. Andrew Goldfarb will join Vericept's board of directors.

About Vericept Corporation

Vericept Corporation is the leading provider of Intelligent Compliance and Content Control Solutions enabling corporations, financial organizations, healthcare and government agencies to control insider risks including regulation compliance violations, corporate governance concerns, internal policy infractions, information leaks and inappropriate activity. Based on the patent-pending Intelligent Content Analysis Engine, the Vericept platform intelligently analyzes all Internet traffic to identify, capture and control the internal threats before damage is done. Vericept's innovative solutions prevent losses to valuable information assets, and protect the company's brand and reputation. Vericept protects more than 1.7 million users and approximately 600 customers worldwide every day.

Vericept is a privately held company headquartered in Englewood, Colorado. For additional information, please visit the Company's Web site at www.vericept.com or call 800.262.0274.


Source: Vericept Corporation

CONTACT: Brett Schklar, Senior Director of Marketing and Product,
+1-303-268-0525, or mobile, +1-303-883-2449, Brett.schklar@vericept.com, or
Tery Larrew, President and CEO, +1-303-268-0550, or mobile, +1-303-808-7331,
Tery.larrew@vericept.com, both of Vericept Corporation

Web site: http://www.vericept.com/


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