October 12, 2005

Trident Capital to Invest in CommerceNet’s Early-Stage Portfolio Companies from its $400 million Trident Capital Fund VI

CommerceNet’s R&D Ties Gives Trident Capital Access to Next-Generation Technology Research and Early-Stage Ventures

PALO ALTO, Calif. — Trident Capital, a national venture capital firm focusing on information technology, today announced a joint venture with CommerceNet to invest in select CommerceNet portfolio companies. CommerceNet is a non-profit organization dedicated to fulfilling the promise of the Internet through entrepreneurial research, open source initiatives and venture start-ups.

“CommerceNet has a ten-year track-record in identifying and facilitating e-commerce innovation through its close collaboration with early stage Silicon Valley startups and top researchers at Stanford, MIT, Johns Hopkins and Carnegie Mellon,” said Don Dixon, co-founder and managing director at Trident. By working with the CommerceNet team and investing in CommerceNet portfolio companies, we will be able to see new opportunities on the horizon and fund critical research for the future of technology. CommerceNet invests in very early stage companies with talented people and bold ideas. We are pleased to be able to help develop ventures that are poised to be leaders in e-business.”

“For example, we recently invested $3 million in startup Webify Solutions, Inc. Inspired by CommerceNet’s seminal research on Web services in B2B commerce, Webify’s technology is enabling transformational business models in healthcare and financial services,” continued Dixon.

CommerceNet was founded by renowned Internet commerce pioneer Dr. Jay M. Tenenbaum to foster worldwide collaboration and advance the rapid and real-time exchange of business information over the Internet. The company has a ten-year history of defining and facilitating advances in Internet commerce. Its successes include milestones such as the first commercial transaction on the Internet, the first Web shopping site, the first Internet auction, the first live Internet video training, and the first XML-based B2B transaction. Today, CommerceNet continues to push the envelope, developing key Web 2.0 and AI technologies that are making the Web more participatory (i.e., 2-way versus read only), more semantic, and more real time (i.e., event driven).

CommerceNet’s Tenenbaum commented, “Our portfolio companies use technology to blow up existing value chains and reassemble the pieces into radically new cross-company processes and business models. They need a venture partner that can provide far more than financial backing. Trident’s managing directors have individual expertise in key high-technology domains and major vertical industries. They are comfortable actively driving the development of new business ecosystems.”

About Trident Capital

Trident Capital is a leading venture capital and private equity firm with over $1.5 billion of capital under management, including $400 million raised in its recently-closed Fund VI. Trident focuses on investments in the information services and software sectors across a variety of industries. Within its sector focus, Trident invests across multiple stages, including traditional venture capital investing as well as investments in micro-cap public companies, buyouts and consolidation platforms. The Firm has made over 100 investments since its inception. Trident has investment offices in Palo Alto, Calif. and Westport, Conn. For more information, visit the firm’s website at www.tridentcap.com.

About CommerceNet

CommerceNet is a unique entrepreneurial R&D organization combining the best elements of a research lab, startup incubator and public interest initiative. Our mission is to make the world a better place by fulfilling the promise of the Internet and ecommerce. We invest in outstanding people with bold ideas, enabling them to pursue their visions and share in their commercial success.

Press Contact:
Lisa Sheeran
Sheeran Communication
(510) 724-2267