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iRise Secures $20 Million in Late Stage Funding

EL SEGUNDO, Calif. – March 4, 2008 – iRise® the world's leading software visualization software company, today announced that it has closed $20 million in incremental funding. Joining existing investor Morgan Stanley Venture Partners in this round are; Gold Hill Capital, a leading provider of growth capital financing for venture-backed technology and life science companies; SVB Silicon Valley Bank, a provider of commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries; and, Deutsche Bank, a leading global investment bank.  iRise will leverage this new round of capital to drive new product development and broaden the distribution of its marketing leading application simulation solution to new markets in 2008.

"We continue to believe that iRise solves a huge communication problem that still exists between business and IT organizations," said Peter Chung, executive director at Morgan Stanley Venture Partners and member of the iRise board of directors. "iRise has grown its customer base by a factor of five since we first invested. This growth demonstrates that visualization is now a proven strategy that solves this problem and gives companies, of all sizes, a way to get applications to market faster, with less cost and risk."

Thousands of people use iRise simulation software to quickly visualize and define custom and packaged applications before coding, eliminating confusion between business and IT. Projects get to market faster with less cost and risk, especially when global sourcing is a strategy.

"Our vision is that, by 2020, all business applications will be visualized before they are built," said Emmet B. Keeffe III, chief executive officer and co-founder of iRise.  "More and more business executives are using visualization to accelerate time-to-market for applications, gain competitive advantage, support ideation and ensure global sourcing success." 

About iRise
iRise is the world’s leading provider of visualization software for business applications.    Visualization is quickly becoming a critical competitive advantage for businesses to more effectively communicate their needs to technology teams and give everyone involved the ability to fully experience applications before they are built.   Companies of all sizes like UPS, Wachovia, M.D. Anderson Cancer Center, Manpower, CompuCredit, Capgemini and many others use iRise to “test drive” their applications before building, which accelerates time to revenue, improves customer experience and drives costs down.  At iRise, our vision is that by 2020, all business software will be visualized before being built, the same way that every car, airplane and building is visualized today.  Headquartered in El Segundo, Calif., iRise is backed by Morgan Stanley Venture Partners and Deutsche Bank and has sales offices across North America.

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iRise is a registered trademark of iRise. All other companies and products mentioned are trademarks and property of their respective owners.