Centric Software Secures $14 Million Series B Financing

SAN JOSE, Calif.—(BUSINESS WIRE)—January 15, 2008— Centric Software, a leading provider of PLM for apparel and other fast-moving consumer industries, today announced that it has closed $14.3 million in series B venture capital financing. The funding round was led by Oak Investment Partners and included Centric's current investors: Masthead Venture Partners and BancBoston Ventures (a Bank of America company). Centric will use the additional financing to expand product development, sales and marketing efforts, and address the growing market opportunity for Product Lifecycle Management (PLM) technology solutions within Apparel, Footwear and Accessories (AFA), and private label sourced products for the wholesale and retail markets.

"We see a significant, untapped market for PLM within apparel and other fast-moving consumer industries," said Bandel Carano, managing partner at Oak Investment Partners. "Centric's innovative Product Intelligence technology is elevating PLM for apparel and other consumer industries to the next level. This unique technology combined with the executive team's domain expertise in PLM will enable the company to meet the specific requirements of these markets and become the de facto PLM standard. Our investment in Centric underscores our confidence in the company's market opportunity and ability to execute."

"Apparel and other fast-moving consumer goods companies are under intense pressure today to bring more products to market faster to meet short market window opportunities, while simultaneously improving margins and improving collaboration with suppliers," said Chris Groves, president and CEO of Centric Software. "Our PLM solutions, powered by our ground-breaking Product Intelligence technology address these industry requirements, while also delivering the added benefits of rapid implementation and end-user adoption, flexibility, and easy integration with legacy systems. This funding highlights our distinct position and will enable us to address the market opportunity in our targeted industries."

Centric offers unique PLM solutions for AFA and other fast-moving consumer industries. The company's powerful Product Intelligence(TM) platform assures that everyone involved in the line planning, product design, sourcing and supply chain processes has secure access to the most up-to-date, comprehensive view of their products and product lines, operations execution and business performance. Unmatched data aggregation functionality within Centric's solutions allow all information about the product--visual, data-based, text-based, etc.--to easily be collected in a aggregate repository that is readily accessed by any user without requiring specialized IT skills. Centric's Product Intelligence(TM) capabilities provide multi-level analysis and web-based dashboards to managers, allowing them to quickly spot trends and exceptions. This combination of capabilities helps product teams collect relevant information for product initiatives, form action plans, execute those plans and assess progress against business goals. Importantly, Centric's application suite can be fully deployed in weeks rather than the months or years typically required to implement traditional PLM solutions.

About Centric Software, Inc.

Centric Software is a leading provider of PLM for apparel and other fast-moving consumer industries. The company's unique solutions are built upon a Product Intelligence(TM) platform, which enables multidisciplinary teams to collect all relevant information for any product or program initiative, decide on the appropriate action, execute on the initiatives and assess progress against business goals. Global enterprises, such as Artsana, Best Buy, Bristol-Myers Squibb, Coleman, Kiewit, Le Coq Sportif, Linens-n-Things, Moen, Timex and United Stationers, use Centric's solutions to achieve top line revenue growth and cost reductions. For further information on Centric Software, please visit: www.centricsoftware.com.

Centric is a registered trademark of Centric Software and Product Intelligence is a trademark of Centric Software. All other brands and product names may be trademarks of their respective owners.

Contact:

Reichert Communications, LLC
Jill Hara, 310-937-2723
Email Contact




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