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Interwise Completes $9 Million Re-Capitalization Round

Interwise, a global leader in unlimited voice, Web and video conferencing for the enterprise, completed a $9 million recapitalization round of equity funding. The new funding will be used to drive the Company's technology leadership in the emerging IP conferencing and collaboration market, as well as expand the Company's penetration in its target markets. The new equity round included the following existing key investors: Lazard Technology Partners, Jim Manzi, Wall Street Technology Partners, Leeds Equity and GIMV (Belgium).

Interwise offers one of the market's most successful software-based conferencing technologies. It is the only vendor that offers a complete, premise-based conferencing system and global hosted conferencing service capable of operating seamlessly together as a single, fully-redundant conferencing solution. Since launching the market's first fully-converged voice and Web, fixed-price enterprise-class conferencing product in 2005, Interwise has significantly disrupted the legacy practices of selling voice and Web conferencing by the minute at the departmental level--creating demand for flat rate pricing and unrestricted, corporate-wide access.

According to IDC, Interwise is the leading pure-play conferencing vendor for proven integration with IT systems and other collaborative applications. The combined market for Web and voice conferencing is expected to grow to approximately $13 billion by 2009.

"Interwise is leading the market with its technology and business approach to making conferencing a core business application," said Russ Planitzer, managing partner at Lazard Technology Partners. "The ability of enterprises to receive the full benefit of IP communications depends upon having scalable, reliable products that are both feature-rich and affordable. Interwise is doing this effectively, anticipating both the business and IT needs of its customers."

According to Scott Lawson, IT business systems architect for global software maker QAD, "Interwise has both the right vision and the right product to make conferencing a core business application for all employees. Interwise Connect is well designed and performs inherently better in the network than other solutions, which aren't designed for handling rich collaboration with large numbers of events and users. The value goes beyond cost savings. By equipping QAD employees throughout 25 countries with Interwise, we become a more innovative, agile and well-aligned company."

"Interwise is attracting attention for its impact on the way enterprises are buying and using voice and Web conferencing," said Frank Zvi, president and CEO of Interwise. "We are driving more favorable pricing, usage and access models for customers across many industries. Our technology is setting new standards for scalability, reliability and performance."

Zvi added, "Companies such as QAD, Nestle, Swiss Re, Renault-Nissan and Bosch are unifying their geographically-dispersed operations, accelerating business processes, reducing time-to-market and improving customer relationships with our advanced IP conferencing technology."

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