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iCentera News

iCentera Secures Series A Funding From PrairieGold Venture Partners and Cargill Ventures

MINNEAPOLIS, MN. July 19, 2005—iCentera, the leading provider of on-demand communication portals that change the way businesses communicate, announced today that it has successfully completed a $1.5 million Series A financing with PrairieGold Venture Partners and Cargill Ventures. iCentera will use the funds to support continued product innovation and sales growth. Cargill's Paul Bieganski will join the iCentera Board of Directors along with Paul Batcheller from PrairieGold Venture Partners.

"iCentera's solution delivers easy to use and affordable portals that allow companies to cost-effectively communicate and collaborate with partners and customers," said Bieganski. "As a 'software as-a-service' solution, iCentera offers a breakthrough in creating and maintaining flexible, private and personalized communication portals without needing to involve internal IT resources."

"With an exceptional team at the helm, a strong and growing customer base, and a cost effective solution that solves a key problem facing most businesses, iCentera is well positioned to be a true market leader." said Batcheller.

A recent IDC and Portals Magazine survey showed that 67% of businesses are in the process of pursuing a portal initiative. Today, iCentera has more than 20,900 subscribers that have leveraged the icSuite to generate and manage over 2,000 portals to communicate with prospects, customers and partners. iCentera is a certified solutions provider for Salesforce.com, providing its icSuite as a fully integrated business collaboration tool. The icSuite's on-demand "Portals for Mortals™" deliver custom portal creation, absolute content management, and real-time analytics. More importantly, communication portals can be created, tailored, and delivered within minutes and without any IT department involvement.

"iCentera's on-demand solutions continue to attract interest from prospects, partners and industry analysts," said Craig Nelson, President and CEO of iCentera. "Our customers are quickly recognizing that empowering staff to better communicate both internally and externally with partners, prospects and customers is critical. Our goal is to enable companies to build deeper, collaborative relationships with partners, prospects and customers in order to drive revenue growth."