Covigo Completes Additional Round of Venture Financing; Funding to Take Covigo to Profitability

Covigo, Inc., the emerging leader in multi-channel application platforms, today announced the completion of an additional round of financing. This latest $4 million infusion, led by existing investors Nokia Venture Partners and Norwest Venture Partners, will enable the company to achieve profitability.

Santa Clara, Calif., January 8, 2002 -- Covigo, Inc., the emerging leader in multi-channel application platforms, today announced the completion of an additional round of financing. This latest $4 million infusion, led by existing investors Nokia Venture Partners and Norwest Venture Partners, will enable the company to achieve profitability.

Covigo will continue to be highly focused on its partner-based business model, including licensing the Covigo PlatformTM to infrastructure software and enterprise applications vendors. In addition, Covigo will continue to provide its software to leading systems integrators for use in multi-channel implementations.

The Covigo PlatformTM is used to deploy applications spanning multiple channels (Web, wireless, voice) and multiple modes (real-time, offline, alerts), leveraging standards such as Java, J2EE and J2ME. Covigo enables software vendors and systems integrators to provide enterprises and carriers with workflow-based multi-channel applications without having to build separate applications for voice, wireless, offline or Web.

We are delighted that our existing investors have demonstrated their continuing support in our team, technology and the overall market opportunity by increasing their investment in Covigo," said Stuart Bagshaw, CEO of Covigo. With our partner-based business model and our market-leading products, Covigo is well positioned to be the leader in supplying multi-channel infrastructure software to the market."

Robert Abbott of Norwest Venture Partners stated, The breadth and depth of Covigo's technology offering far surpasses the wireless-only rendering-focused solutions provided by many companies in the market today. Covigo's flexible, innovative and cost-effective suite of solutions for all modes of communication (voice, wireless, offline and web) enables software vendors and systems integrators to speed time-to-market at a lower cost of ownership."

John Gardner of Nokia Venture Partners stated, Covigo has an extremely competitive broad-based solution that will enable the company to emerge as one of the key new players in the software infrastructure industry in the coming years. Covigos products are an ideal fit for software vendors looking to expand their solutions beyond the Web."

About Covigo
Covigo is headquartered in Santa Clara, California, with European operations based in Maidenhead, England. The Covigo PlatformTM is used by software vendors and systems integrators to deploy applications spanning multiple channels (Web, wireless, voice) and multiple modes (real-time, offline, alerts). To learn more about Covigo's innovative multi-channel solutions, visit www.covigo.com or download Covigo PlatformÔ at http://developer.covigo.com.

About Nokia Venture Partners
Nokia Venture Partners is a leading global venture capital firm based in Menlo Park, California. Launched in 1998, Nokia Venture Partners has USD$650 million under management and leads investments in early stage mobile technology companies around the world. The fund is backed by a number of limited partners including BMC Software, CDBWebTech, Goldman Sachs, Nokia, and others, and has a strong track record of leveraging its combined resources, experience and contacts to help build successful mobile businesses. The firm also has offices in Washington DC, London and Helsinki. For more information, visit www.nokiaventurepartners.com.

About Norwest Venture Partners
For more than 40 years, Norwest Venture Partners (NVP), has actively partnered with entrepreneurs to build large businesses. NVP focuses on early stage investments in enterprise software and communications technologies. The firm manages more than $1.5 billion in venture capital and has funded over 350 companies since inception.

NVP has invested in such market leaders as Accord Networks (acquired by Polycom), Actel Corporation, Brocade Communications, Cerent (acquired by Cisco Systems), Corio, Cray Research, Docent, Documentum, Extreme Networks, Forte Software (acquired by Sun Microsystems), Network Systems (acquired by StorageTek), Octane Software (acquired by E.piphany), OnDisplay (acquired by Vignette Corporation), PeopleSoft, Quantum Effect Devices (acquired by PMC-Sierra), SeeBeyond, Siara Systems (acquired by Redback Networks), Tivoli Systems (acquired by IBM), Vantive Corporation (acquired by PeopleSoft), Verio (acquired by NTT Communications) and Xylan (acquired by Alcatel). Additional information on Norwest Venture Partners can be found at www.nvp.com.

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Covigo is a trademark of Covigo, Inc. All other trademarks contained herein are trademarks of their respective owners.

Press Contacts:

U.S. Contact:
Dev Khare
VP of Corporate Development & Strategy
+1.408.566.4160
dkhare@covigo.com

U.K. Contact:
Shari Greenleaf
Senior Manager, Marketing Communications
+44.(0).1628.589.135
sgreenleaf@covigo.com