Crystallize Secures $18.5 Million Venture Investment To Accelerate Growth of Enterprise Change Software Company.

Business Editors & High Tech Writers

ANN ARBOR, Mich.--(BUSINESS WIRE)--Sept. 26, 2001

Compelling Technology and Strong Market Demand

Attract Battery Ventures

Crystallize, Inc., a leading provider of software that enables companies to re-organize their business without re-implementing their enterprise applications, today announced it has raised $18.5 million in venture financing from a group of investors led by Battery Ventures.

The funds will be used to accelerate the company's growth by expanding its management team, intensifying its sales and marketing activities and increasing the functionality of the Crystallize Enterprise Change Solution to meet a broader market of customers. Local investors M Group and Waypoint Ventures participated with Battery Ventures in the new round of financing.

Crystallize software automates the implementation of strategic business initiatives for Fortune 1000-sized companies. Crystallize enables companies to accommodate dynamically shifting market and business conditions by increasing the value and flexibility of their enterprise software assets. Crystallize has developed software solutions for customers of the Oracle E-Business Suite of applications that enable rapid financial restructuring, business reorganizations, spin-offs and divestitures, and post-merger integration. Crystallize software changes, filters, and copies information in these operational systems making for faster and more accurate decision-making, more responsive customer service and faster time to market. All of this means a greater return on investment for Crystallize customers.

"We're addressing the growing challenge of managing change in mission-critical corporate information systems," said Richard Earley, President of Crystallize. "Companies have spent millions of dollars to implement sophisticated enterprise software to run their businesses, and it's not easy to change these rigid systems. Companies are demanding an easier way to modify and optimize their systems to take advantage of new technologies, to more quickly adapt to changing business requirements and to improve the consistency, accuracy and completeness of data across their enterprise."

John Abraham, a Venture Partner at Battery Ventures, said, "The rate of change in business today and the interdependence on other systems -- both within and outside the four walls of the enterprise -- create complexities the business application vendors just can't address. Capturing the value of strategic business initiatives requires vendors like Crystallize that provide unique solutions to corporate data management problems. Crystallize has staked out the leading position in a market sector that will flourish in the coming years."

Crystallize was founded in 1998 and currently employs over one hundred people at its headquarters in Ann Arbor, Michigan and six regional sales offices. Crystallize has assembled a seasoned management team with years of directly related experience and is now serving a growing customer base that includes global leaders in telecommunications, manufacturing, and technology markets.

About Battery Ventures

Battery Ventures is a premiere venture capital firm largely focused on early stage technology investments. With a team of more than 60 professionals and nearly two decades of success, Battery has the people, experience and capital to guide emerging technology companies to category dominance. Since 1983, the firm has invested worldwide in more than 130 companies across the communications, software and Internet/e-Business industries. From its offices in Wellesley, MA, and San Mateo, CA, the partnership manages over $1.8 billion in committed capital. For more information, visit www.battery.com.

About Crystallize

Crystallize(TM) is a leading provider of enterprise change software. Crystallize Software is the standard that enables organizations to rapidly implement business change driven by strategic initiatives such as mergers and acquisitions, corporate reorganizations, divestitures, and eBusiness in their IT systems. Crystallize software allows these changes to be generated without the need for traditional programming. Crystallize software employs a patented technology that copies, consolidates, filters or changes data across the enterprise. Crystallize is a member of the Oracle Partner Program and a certified member of Oracle's E-Business Suite Integration (EBSI) and Cooperative Applications Initiative (CAI) programs. Crystallize is based in Ann Arbor, Michigan. More information can be found at www.CrystallizeS.com.