Opalis Software Lands $8.5 Million in Funding

Opalis Software, Inc., the expert provider of integration software that enables enterprises to achieve the automated data center, today announced that it has closed an $8.5 million USD Series C round of financing. Led by Sierra Ventures with participation from existing investors, including BDC Venture Capital and VenGrowth Private Equity Partners Inc., the round brings the company's total funding to $20 million. As part of this announcement, Mark Fernandes and David C. Schwab of Sierra Ventures will join Opalis' Board of Directors. "Opalis plans to use the funds to maintain its technological leadership both in the United States and abroad, and expand marketing and sales globally," stated Scott Broder, CEO of Opalis Software. "Sierra Ventures' extensive software expertise will help us to accelerate the tremendous momentum that we're currently experiencing. The new funding will enable us to build out our channels and rapidly increase our customer base from its current level of 550 enterprises. We welcome Mark, David, and Sierra Ventures to the Opalis team." "Opalis' technology continues to evolve and is now positioned better than ever to be the leader in data center integration, enabling IT organizations to document and automate procedures without having to re-engineer existing processes or introduce new tools," said Roger Wilson, Director for BDC Venture Capital. "We continue to be impressed by Opalis' technological accomplishments and we're excited about its growing acceptance and huge potential in the marketplace." With Opalis Integration Server 5.0, launched last month, enterprises can maximize investments in existing IT management solutions by automating time-consuming and repetitive manual processes in order to free up IT staff resources and focus on higher value projects. Once deployed, Opalis responds to issues automatically and consistently, thus reducing the possibility of outages while improving response time. "CIOs and IT managers are mandated with lowering operating costs and increasing service per dollar. Much of the average IT budget today is spent on ongoing operations and maintenance. Opalis' solution enables enterprises to achieve a truly automated data center," said Mark Fernandes, Venture Partner for Sierra Ventures. "We decided to invest in Opalis because the company has demonstrated real business value for its customers." Adds Peter Carrescia, General Partner for VenGrowth Private Equity Partners, "Mark and David have an extensive background in the software industry and will no doubt make excellent additions to the Opalis board. I'm excited to work alongside them both to help further Opalis' position in the marketplace." About Opalis Software, Inc. Opalis Software, Inc., is the expert provider of integration software that enables enterprises to achieve the automated data center. With Opalis, companies can connect disparate environments and automate routine processes in a way that's simple, fast, and effective. Currently, more than 550 global companies, including Toyota, Harley Davidson, StateStreet, Nokia, Xerox, BlueCross BlueShield, and Woolworths, rely on Opalis to integrate and automate their data center operations. Opalis is headquartered in Mississauga, Ontario, Canada, and has strategic industry partnerships with EMC, VMware, HP, IBM, Microsoft, BMC, NetIQ, Veritas, and Cognos. For more information, please visit http://www.opalis.com. About Sierra Ventures Sierra Ventures, founded in 1982, is a privately held venture capital firm focused on investments across all areas of the Information Technology sector from semiconductors to enterprise software. Sierra Ventures has managed eight venture capital partnerships and currently has more than $1 billion of capital under management. Some of the firm's investments include Combinet (acquired by Cisco), StrataCom (acquired by Cisco), ConvergeNet (acquired by Dell), Quinta (acquired by Seagate), Intuit (INTU), OnLink (acquired by Siebel), Healtheon (merged with WebMD), AmeriGroup (AGP), Micromuse (MUSE), Active Software (acquired by WebMethods), Centex (acquired by WorldCom), and Interact Commerce (acquired by Sage). More information is available at http://www.sierraventures.com. About BDC Venture Capital BDC Venture Capital is a major venture capital investor in Canada, active at every stage of the company's development cycle, from seed through expansion, with a focus on technology-based businesses that have high growth potential and that are positioned to become dominant players in their markets. BDC Venture Capital has been involved in venture capital since 1975 and has to date invested in more than 400 different companies. It currently manages approximately $500 million in venture capital assets invested in the areas of Life Sciences, Telecommunications, Information Technology, Advanced Technologies and Funds Investments. For more information, visit http://www.bdc.ca. About VenGrowth Private Equity Partners Inc. With over $1.1 billion in assets under management, VenGrowth Private Equity Partners Inc. is Canada's largest private equity and venture capital firm managing both retail and institutional assets. Since 1982, VenGrowth's accomplished private equity managers have invested over $1.1 billion in 180 companies, building a strong track record of successful portfolio transactions. These investments have been made on behalf of over 180,000 individual investors and leading pension funds, banks, insurance companies, and family foundations. For more information, please visit http://www.vengrowth.com.

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