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PivotLink Raises $10 Million in Venture Capital Funding

Extends Leadership in SaaS Business Intelligence Market by Driving Collaborative Analytics Across Departments, Companies and Extended Networks

San Francisco, CA – February 10, 2009 – PivotLink, the leader in on-demand business intelligence (BI), today announced it has closed a $10 million round of venture capital funding. The Series C round, led by StarVest Partners and backed by existing investors Trident Capital and Emergence Capital Partners, builds on PivotLink’s momentum:

  • 100% growth in new sales bookings in 2008
  • Over 6,000 business users
  • Adoption in industries such as consumer packaged goods, e-commerce, healthcare, insurance and technology, including customers such as: Car Toys; DebShops; Guardian Home Care Holdings, Inc.; KoolSmiles; Novell; REI; Rossignol; Shaklee; Zones and many others

The additional capital will allow PivotLink to expand sales and marketing, accelerate product development and bolster its market leadership in providing business intelligence solutions delivered in a software as a service (SaaS) model.

Deborah A. Farrington, General Partner with StarVest Partners, will join PivotLink’s board of directors. A 30 year veteran in financial services with deep experience in SaaS, Farrington spearheaded the first institutional investment round in Larry Ellison’s NetSuite, leading to its $1.6 billion IPO in 2007. She ranks among the top venture capitalists on the “Forbes Midas List.”

Farrington added, “Based on our experience in building leading SaaS companies, PivotLink meets StarVest’s criteria for a great investment. CEO Quentin Gallivan is a proven entrepreneur who has a history of execution and building strong management teams. On-demand BI for the mid market and mid-sized enterprise is poised to grow rapidly and we believe PivotLink will continue to lead the sector. We are also delighted to be co-investing with Trident and Emergence and look forward to adding value to a winning team.”

Large and mid-size companies use PivotLink’s platform to gain timely business insights ranging from inventory and sales trends to patient care. PivotLink solutions are delivered via SaaS, delivering powerful analytics at 1/10th the cost and a fraction of the time required to deploy traditional BI solutions.

“This round of funding is a significant milestone in the transformation of the $6 billion BI software market to a SaaS model, positioning PivotLink to provide the lowest total cost of ownership (TCO) and fastest time to value for customers utilizing BI to manage through this challenging economic environment,” said Quentin Gallivan, CEO of PivotLink. “The investment underscores our leadership in SaaS BI as customers increasingly consider platforms like cloud computing to reduce their capital expenditures in IT. During this next stage of growth, StarVest’s expertise and value-add in building highly scalable SaaS companies will be instrumental.”

PivotLink’s industry accolades include JMP Securities’ 2008 “Hot 100: The Best Privately Held Software Companies” and four consecutive years ranked among the top BI providers in the CPG market by readers of Consumer Goods Technology Magazine. The company was also named a “Cool Vendor” in the Gartner, Inc. report titled “Cool Vendors in Analytics, Business Intelligence and Corporate Performance Management.”

With this round, PivotLink has raised $25 Million to date.

About StarVest Partners, L.P.

StarVest Partners is a New York-based venture capital firm with $400 million under management that is funding technology-enabled business services companies throughout the U.S. The firm’s value-added partnership maintains a laser focus on five key emerging technology and services sectors: software as a service (SaaS), internet marketing services, e-commerce services, data aggregation services and identity and security management. StarVest combines a sophisticated investment background with the experience to foresee opportunities for both its portfolio companies and funding partners. The firm’s general partners are Deborah A. Farrington, Laura B. Sachar, Jeanne M. Sullivan and Larry A. Bettino.

StarVest gained national recognition in 2007 as the only outside venture capital firm in NetSuite, whose December 2007 initial public offering opened with a $1.6 billion market capitalization, the second highest market capitalization of any venture capital–backed technology IPO since Google. StarVest was also one of the first institutional investors in MessageOne (acquired by Dell Computer in April 2008). More information about StarVest is available at the company’s Web site: www.starvestpartners.com.

About PivotLink Corporation

As the leader in on-demand business intelligence solutions, PivotLink serves over 6,000 business users in retail, consumer packaged goods, healthcare, insurance, technology and many other industries. PivotLink Solutions™ and the PivotLink Framework™ data platform put the full power of business intelligence in the hands of decision makers across departments, companies and extended networks, offering tailored environments for each user from CEO to line employees. PivotLink’s unique, self-directed reporting and analytics are based on the Software as a Service (SaaS) delivery model, providing users with complete analytical freedom with minimal IT involvement. PivotLink Solutions are typically deployed in under 30 days, seamlessly integrate data sets from multiple sources, are easy to use and have a price that is affordable. Headquartered in San Francisco, California, PivotLink is a privately held company funded by Trident Capital, Emergence Capital Partners and StarVest Partners. Visit www.pivotlink.com.

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This press release is for informational purposes only and no offer to buy or solicitation of an offer to sell any securities is made hereby. The forward-looking statements in this release are subject to unknown risks and uncertainties and do not constitute guarantees of future performance. The actual results, performance or achievements of the company may differ materially from the results, performance or achievements of the company expressed or implied by such forward-looking statements.

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John O’Brien
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