Kurant Corporation Completes Series C Financing

Kurant Corporation, the leading provider of e-business software infrastructure for organizations that serve the small and medium-size business market, today announced the completion of its Series C round of financing. This round brings the total investment in the company to $12.1 million. Kurant expects to reach profitability later this year.

KURANT CORPORATION COMPLETES SERIES C FINANCING

SAN FRANCISCO, Calif. -- January 28, 2002 -- Kurant Corporation, the leading provider of e-business software infrastructure for organizations that serve the small and medium-size business market, today announced the completion of its Series C round of financing. Led by Deep River Ventures, the round included other Series B investors and brings the total investment in the company to $12.1 million. Kurant expects to reach profitability later this year.

The completion of this $3.4 million round underscores Kurant's continued leadership in product innovation, strategic partnering and channel development. StoreSense, Kurant's award-winning e-business platform, has garnered more editorial and industry awards than any other product in its space. The company's list of partners includes such industry leaders as Intuit and Homestead Technologies, while Global 500 corporations such Bank One and Cable & Wireless now offer StoreSense-powered e-business services to their SMB customers.

"We're thrilled to announce the closure of Series C, a testament to both our success thus far and the tremendous potential we see moving forward," said Curtis Pierce, CEO at Kurant. "Our market is projected to grow dramatically in the coming years. Kurant, already recognized throughout the industry as the leader in our space, is well positioned to capture this opportunity."

According to San Francisco-based market research firm Keenan Vision, 28% of U.S. small businesses will use e-merchant services by the year 2006, up from just 6.7% in 2001. This growth represents a $39 billion opportunity for Kurant's target market -- the large corporations, service providers and other organizations that deliver these services to the small business market.

"Kurant has demonstrated excellence across the board, from product development and sales, marketing and service to the overall management of the business," said Roy Mall of Deep River Ventures. "We are proud to back the clear market leader and look forward to Kurants continuing success."

About Kurant
Kurant Corporation provides software infrastructure that allows large corporations to deliver branded e-business services to their small and medium-sized business customers. Kurant's award-winning flagship product, StoreSense, includes electronic commerce, mobile commerce, supply chain communication, and inventory and customer management. StoreSense is offered on a cost-effective subscription basis and runs on Windows 2000, Windows NT, Linux and Solaris platforms. Founded in 1996, San Francisco-based Kurant is privately held and has received investments from Deep River Ventures, Cobalt Networks, Garage.com, Group One, and TransAtlantic Partners. For more information, contact Kurant at www.kurant.com or (888) 463-2696.

About Deep River Ventures
Deep River Ventures, LLC was founded in November 1999, with money from private investors in the Northern California region. It invests primarily in start-up and early round financings of high-tech and emerging market companies.

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Media Contact:
Stephanie Edwards
Kurant Corporation
415-241-9150 x110
stephanie@kurant.com