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MetaMatrix Inc.

MetaMatrix Closes US$12 Million Round of Financing Led by Integral Capital Partners, Artal Services and Kleiner, Perkins, Caufield & Byers

24.08.2004 – 15:32

New York (ots/PRNewswire)

- Company Names Joseph Chappell CEO
MetaMatrix, the leader in Enterprise Information Integration (EII)
and metadata management announced today that it completed a US$12
million round of financing led by new investor Integral Capital
Partners and existing investors Artal Services and Kleiner, Perkins,
Caufield & Byers. The company also announced that Joseph Chappell has
joined as Chief Executive Officer to help direct its next stage of
development and growth.
MetaMatrix, a privately held company, is the leading provider of
Enterprise Information Integration software and is the only company
that provides model-driven integration components for Service
Oriented Architectures. MetaMatrix enables organizations to turn
their distributed, disparate, and often cryptic data into a powerful,
comprehensive, and accessible information utility. This dramatically
reduces the cost and time required to deploy new applications while
increasing business flexibility by a factor of ten or more. Founded
in 1998, MetaMatrix has built a leadership position in financial
services, manufacturing, and government resulting in marquee clients
and demand that has exceeded company expectations.
MetaMatrix has tapped Joseph Chappell to lead the company and help
it achieve its full potential. Chappell brings over 20 years of
software management, product management, sales, business development
and marketing experience with companies such as Blue Agave Software,
Oberon Software, Pansophic Systems and General Instrument. As the CEO
of Oberon Software, the company grew from 12 to 120 people in three
years and was acquired by OnDisplay in March 2000 for approximately
US$240M.
"We have been watching the EII and SOA markets for some time and
MetaMatrix has distinguished itself as a leader. We are very pleased
to have the opportunity to join the company and its investors," said
Glen Kacher, Partner, Integral Capital Partners.
"MetaMatrix is providing a new strategic capability that provides
more productivity to IT projects than I have ever seen in my
lifetime," said Ray Lane, General Partner Kleiner, Perkins, Caufield
& Byers. "There's real momentum building and we feel with Joe
Chappell on board they are very well positioned to dominate the
Service Oriented Architecture space."
"MetaMatrix is confirming every day the very large potential we
saw two years ago. It has experienced tremendous growth and success
since our initial investment. With Joe's arrival, we believe more
than ever that all the ingredients are in place for MetaMatrix to
sustain its leadership in an exploding market," said Philippe
Amouyal, Managing Director, The Invus Group, LLC (exclusive
investment advisor to Artal).
About MetaMatrix, Inc.
MetaMatrix is the leading provider of Enterprise Information
Integration and Enterprise Metadata Management solutions. The
MetaMatrix solution acts as a virtual database to unify and deliver
information on demand, across the entire enterprise. The Company's
technology is embedded by some of the worlds largest software
companies, and is in use at the world's largest commercial and
government organizations.
Web site: http://www.metamatrix.com

Contact:

Mark Roth of MetaMatrix, Inc., +1-212-514-7112, ext. 104,
mroth@metamatrix.com