EC Cubed Secures $21 Million in Financing.

Business/Technology Editors

WESTBOROUGH, Mass.--(BUSINESS WIRE)--April 11, 2000

EC Cubed Secures $21 Million in Financing Investor Community

Further Strengthens Its Commitment To EC Cubed's New Business Model

EC Cubed, Inc., a provider of dynamic B2B e-Commerce solutions, today announced it has secured $21 million in its latest round of financing. Battery Ventures, Boston Millennia Partners, BCI Advisors, BancBoston Ventures, Cambridge Technology Partners, Crystal Internet Ventures, Infosys Technologies, Ltd., and the Walden Group of Venture Capital Funds have participated in this round of financing. The company recently announced a new business model combining its B2B platform and application services delivered as a fully managed service.

"This latest round of funding underscores the investment community's confidence in EC Cubed as a dynamic B2B e-Commerce application provider. With this latest round of funding we will accelerate the execution of our new business model, expand our core offering to global markets and maintain our triple digit growth," said Jeff Tognoni, president and chief executive officer of EC Cubed. "The investor community clearly recognizes that EC Cubed is positioned to define the next generation of solutions for the rapidly growing B2B e-Commerce market."

With this model, EC Cubed is on the cutting edge of defining how the next generation of B2B e-Commerce applications will directly impact a company's top-line growth and bottom-line performance. EC Cubed's delivery model was formulated in direct response to its customers' needs for rapid iteration and continued innovation in a fully managed e-Business environment. In contrast to other vendors' offerings centered on client/server applications, EC Cubed delivers critical e-Business infrastructure needs at the speeds required for success in the B2B marketplace.

"The primary requirement for any company doing business on the Internet is the ability to rapidly translate business processes to an Internet strategy and deliver them quickly through rapid iterative cycles," said Tom Crotty, general partner at Battery Ventures. "With its dynamic ASP delivery model, EC Cubed is well positioned to provide a fully managed service that addresses these requirements." -more-

About EC Cubed

EC Cubed, Inc.'s breakthrough approach as a dynamic application provider for B2B e-Commerce solutions targeting Global 2000 and dot com organizations is redefining how inter-company processes will be automated for the new economy. Founded in December 1996, EC Cubed is dedicated to providing the tailored, agile e-Commerce solutions that enable leading companies to successfully anticipate and respond to changing market conditions. With MasterCard International, GE Capital, and TPN Register among its customers, EC Cubed is the trusted provider that market-leading companies rely on to build and deliver mission critical e-Business applications. EC Cubed offers its capability directly through its North America sales force on a monthly subscription-based model. For additional information about the company, contact EC Cubed toll free at 1-877-ECCubed, or visit us on the Internet at www.eccubed.com.

About Our Investors

BancBoston Ventures is the private equity investment and venture capital arm of BankBoston Corporation. BancBoston Ventures provides early-stage venture capital to emerging growth companies in the information technology and healthcare sectors.

Battery Ventures, a national venture capital firm founded in 1983, specializes in investments in the software and communications industries. Battery Ventures is one of the leading high tech venture capital firms in the country, having closed its fifth fund in March 1999, raising $450 million from an elite group of limited partners. Battery Ventures plans to close $1 billion in additional funds by June 2000.

BCI Advisors is a later-stage investor in high growth companies targeting the media/entertainment, broadcasting, telecommunications, software and information services, business services, and financial services industries. Since their founding in 1983, BCI has successfully invested $457 million in 90 companies.

Boston Millennia Partners is a venture capital firm managing over $300 million with offices in Boston and Philadelphia. Boston Millennia invests in high-growth businesses in the information technology, telecommunications, and life sciences industries. The managers at Boston Millennia have funded over 100 companies in the U.S. private equity market since 1980. -more-

Cambridge Technology Partners (CTP) is an international management consulting and systems integration firm. Founded in 1991, the Company provides end-to-end business solutions for "Global 2000" organizations seeking to capitalize on competitive advantages offered by the new economy. CTP has 55 offices and more than 4,400 employees worldwide.

Crystal Internet Venture Fund, LP (CIVF), established in January 1997, focuses on investing solely in Internet and Internet-related opportunities. CIVF currently has $40 million of capital under management with its primary focus being the funding and development of early-stage companies.

Infosys Technologies, Ltd., based in Bangalore India, is a world leader in providing IT consulting and software services to the finest global organizations. The company offers offshore-based software services such as application development, software maintenance, Internet consulting, and establishing software centers for customers.

The Walden Group of Venture Capital Funds is a group of international venture capital funds affiliated with the Walden International Investment Group (WIIG). The combined organizations manage funds in excess of US $1.2 Billion including regional, global and industry specific funds. Walden has invested in over 300 companies worldwide in the areas of semiconductors, communications, software, new media and information technology, healthcare, biotechnology and specialty retailing.