PeopleCube Secures $17M in Funding from Truffle Capital and Big Bang Ventures



    Investment in PeopleCube Facilitates Further European Market Expansion,
Additional Product Development and Stronger Partnership Opportunities

    WALTHAM, MASS., September 20 /CNW/ - PeopleCube, the leader in on-demand
calendaring, resource and event management solutions, today announced it has
received a new round of funding through the purchase of all outstanding shares
in the company by investment firms Truffle Capital and Big Bang Ventures. This
infusion of additional working capital will be used to expand PeopleCube's
business in Europe, accelerate and enhance product development, and provide
additional partnership opportunities worldwide. The deal also solidifies
PeopleCube's position as the premiere developer of innovative resource
management software solutions.

    PeopleCube's calendaring, resource and event management solutions allow
organizations to increase productivity and reduce costs by streamlining
scheduling processes and improving overall operational efficiency. The
company's customers include more than 7,500 companies across multiple
industries, including more than 60 of the Fortune 500. The company recently
announced that it has secured several new U.S. customers in targeted
industries, including Bank of America and Wachovia. PeopleCube's on-demand and
on-premise solutions are used by nearly 5 million people every day. The
company also recently launched the latest version of Resource Scheduler, a
web-based resource management solution that allows users to quickly and easily
reserve resources of all types - from meeting rooms, training rooms, and A/V
equipment to vehicles, athletic fields, and shared workspaces in an office
hoteling (or hot desking) environment.

    "PeopleCube is a global company and the leader of the Resource Scheduling
software market," said Bernard-Louis Roques, general partner and founder of
Truffle Capital. "In addition, PeopleCube has successfully made the transition
to a SaaS (Software-as-a-Service) vendor, thus enhancing its leadership in
both the U.S. and Europe. We have been greatly impressed by its innovation,
R&D resources and the world-class quality of its products. The PeopleCube
management team has done a tremendous job of positioning the company for
further success in this very promising market with tremendous global growth
potential."

    "Global market pressures are forcing companies to reevaluate their
internal processes in order to become more productive in less time, and
PeopleCube's solutions have always led the way in making organizations run
more efficiently," added Barend Van den Brande, managing partner at Big Bang
Ventures. "PeopleCube is well positioned in this space and it is our firm
belief that by providing additional working funds, the company will be able to
sustain aggressive growth through new market and partnering channels."

    "Our vision as a company has always been to provide customers with the
most innovative and reliable scheduling solutions available," said John T.
Anderson, president and CEO of PeopleCube. "The infusion of additional
investment dollars allows us to broaden and strengthen our product offerings
while opening the door to new partnership opportunities required for expanding
our reach into new and growing global markets."

    About Truffle Capital

    Founded in 2002 in Paris, Truffle Capital is a leading independent
European private equity firm dedicated to investing in and building technology
leaders in the IT, life sciences and energy sectors. With EUR 250 million
under management, Truffle Capital is led by a team of four partners with
decades of successful investment and entrepreneurial experience in both Europe
and Silicon Valley. Truffle Capital's investment team is composed of
experienced and international experts. Truffle Capital aims to achieve
superior financial returns by leveraging its industry knowledge, extensive
network and unique focus on spin-offs to identify business ventures that match
latent market needs. For further information, please visit www.truffle.com.

    About Big Bang Ventures

    Big Bang Ventures is emerging as a leader in seed and early-stage venture
capital funding for high-growth ICT companies. In addition to funding, Big
Bang Ventures leverages its extensive operational experience and worldwide
network to actively help start-ups accelerate their growth. Formed in 2000,
Big Bang Ventures has over EUR 40/$54 million under management, with
investments ranging from EUR 0.5 to EUR 3 million in the ICT sectors of
enterprise software, digital media, mobile applications, infrastructure
software, and storage. For more information, visit http://www.bbv.be.

    About PeopleCube

    PeopleCube is a leading provider of on-demand calendaring, resource and
event management solutions for organizations of all sizes. Their suite of
scheduling products have helped more than 7,500 customers worldwide in
education, high tech, healthcare and government optimize their people,
processes and schedules to improve productivity, increase revenue and reduce
costs. With headquarters in Waltham, Massachusetts and offices throughout the
U.S. and Europe, PeopleCube has grown consistently through organic growth and
strategic acquisitions. For more information, visit www.peoplecube.com.




For further information:

For further information: PeopleCube Ward Russell, 781-530-2629
wrussell@peoplecube.com or Pardes Communications Diane Pardes, 781-652-8059
dpardes@pardescommunications.com

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PEOPLECUBE

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