Alfresco Secures $9 Million in Series C Funding Led by SAP Ventures Investment Round to Provide Continued Growth for Market-Leading Open Source

Enterprise Content Management Vendor



    LONDON, Jan. 22 /PRNewswire/ -- Alfresco Software, Inc., the leader in
 open source enterprise content management (ECM), today announced the
 completion of a $9 million Series C round of financing led by SAP Ventures,
 bringing total funding to $19 million. Existing investors Accel Partners
 and Mayfield Fund also joined the round.
 
     Alfresco will use the proceeds to fund continued growth into the
 enterprise content management market, including product development and
 acceleration of global expansion plans, particularly in the German, U.S.
 and Asian markets.
 
     "Enterprise Content Management is a well established and understood
 category that is well suited for a business model innovation such as open
 source," said Dr. Jorg Sievert, partner, Europe & Israel, SAP Ventures.
 "Alfresco has emerged as the OSS leader in this category. In addition to
 the enterprise-class quality of Alfresco's solution, we are particularly
 impressed with Alfresco's management and take great pride in backing this
 world class team."
 
     "Accel Partners has a proven track record of investing in start-ups
 with category-defining potential, such as our investment in Facebook. We
 have been involved with Alfresco since its inception and have always
 believed that the Alfresco team was capable of changing the content
 management market and achieving a leadership position in open source in the
 enterprise," commented Kevin Comolli, managing general partner, Accel
 Partners and Alfresco board member.
 
     "Along with software-as-a-service, open source is one of the innovative
 models today in enterprise technology. Over just the past few years,
 Alfresco has established a dominant position as the go-to solution for
 enterprise document, Web and content collaboration. By building a
 profitable business and a list of blue-chip customers, it has not only
 proved the viability of open source as a business model, but has also
 emerged as a threat to proprietary ECM vendors," said Robin Vasan, general
 partner, Mayfield Fund.
 
     Alfresco has seen major adoption of its open source ECM system
 throughout the world with over 1 million product downloads, more than
 20,000 active deployments and a customer base of more than 300 enterprise
 accounts, including many Global 2000 organizations. These include five of
 the top 10 investment banks, Electronic Arts, H&R Block and KLM, each of
 whom are running Alfresco in enterprise-wide, mission-critical deployments.
 
     Since being founded in January 2005, Alfresco's impact on the ECM
 market and innovative product strategy has received several prestigious
 industry awards, including the Red Herring 100 Global, Computerworld Honors
 Program, Sand Hill Group Top Software Innovator and World Economic Forum
 Technology Pioneer.
 
     Mike Davis, senior analyst at Ovum, said "[Alfresco] has the technical
 capabilities, and along with Microsoft is likely to be the most disruptive
 player in the ECM market at the enterprise level in the next five years."
 
     In December 2007, the company announced the latest release of its
 software. With this innovative new release, Alfresco adds social computing
 capabilities to its best of breed open source ECM platform.
 www.alfresco.com/media/releases/2007/12/open_source_social_computing_platfo
 rm/
 
     "Alfresco is seeing mass adoption of its ECM platform in the Global
 5000, and our growth is reminiscent of that experienced by SAP and Business
 Objects in the early 1990s. Our investors have been delighted with the
 capital efficiency of our open source business model. The additional
 funding is in response to the high levels of customer demand we can see
 over the coming 12 months," commented John Powell, CEO and co-founder,
 Alfresco Software. "We will benefit a great deal from working more closely
 with SAP; with several customers in common we recognize how important
 robust content management is to these enterprises."
 
 
Alfresco can be downloaded from http://www.alfresco.com/products/ecm/enttrial/. About SAP Ventures Since 1996, SAP Ventures has been investing in companies that offer exciting new technologies and applications. Leveraging years of experience and drawing on a network of powerful business relationships, SAP Ventures helps entrepreneurs and management teams recruit the best people, make the right technology decisions, win new business, and build their own partner networks. The goal of SAP Ventures is to grow businesses that create shareholder value for everyone involved. For more information, visit http://www.sapventures.com. About Accel Partners Accel was established in 1983, and today invests globally with offices in Palo Alto, California and London, as well as in China via the IDG-Accel Partnership. With over $4 billion under management, Accel has helped technology entrepreneurs build over 300 successful companies, many of which have defined their categories. The Accel portfolio includes long-term market leaders such as Macromedia, Veritas, RealNetworks, Foundry Networks, UUNET and Polycom, as well as recent IPO's MetroPCS (PCS), Infinera (INFN), ComScore (SCOR), and Riverbed Technologies (RVBD). Other investments include Facebook, JBoss, Kayak, XenSource and Zimbra. About Mayfield Fund Mayfield Fund provides "venture capital with impact" by partnering with exceptional individuals to create industry-leading companies. Mayfield has domain expertise in communications/wireless, consumer/media, enterprise software and semiconductors. The firm has over $2.7 billion under management and a team of eleven investing professionals. Since Mayfield's founding in 1969, the firm has invested in more than 470 high-growth companies, taken more than 100 public and more than 150 have merged or were acquired. About Alfresco Software, Inc. Alfresco Software, Inc. is the first and leading open source alternative for enterprise content management. It is the first company to bring the power of open source to the enterprise content management market, enabling unprecedented scale and a much lower total cost of ownership than proprietary systems. Founded by a team of content management veterans that includes the co-founder of Documentum, John Newton, and former COO of Business Objects, John Powell, Alfresco is based in London. For more information, visit http://www.alfresco.com SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other names mentioned are the trademarks of their respective companies. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
Media Contact Patricia Colby Page One PR 415-875-7494 patricia@pageonepr.com

SOURCE Alfresco Software, Inc.

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