SAManage Secures Series A Funding from Xenia Venture Capital

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Funding will support growth and rollout of new innovative IT Management SaaS services.

SAManage, a leading SaaS IT Management Provider, announced today that it secured its first round of venture-backed financing led by Xenia Venture Capital and with participation of existing backers. The funding will help SAManage support its rapid growth and accelerate the development of new value-added SaaS based services.

SAManage provides secure, on-demand IT Management services that help companies manage their PC and software assets. As IT departments at companies of all sizes are challenged to keep up with the growing risks brought about by a rapidly-expanding and increasingly diversified IT asset base, SAManage automates and simplifies the daily tasks associated with establishing IT governance, control, and compliance. By delivering IT Management as an affordable on-line service, SAManage empowers companies of all sizes with capabilities that were previously available only to large companies.

The funding for SAManage is provided by Xenia Venture Capital, specializing in early stage investments in technology-innovative companies. "There is a huge market opportunity for a company that can deliver easy-to-deploy, easy-to-use, and cost-effective IT management capabilities," says Anat Segal, CEO of Xenia Venture Capital. "SAManage is well-positioned to provide the kind of service-enabled simplicity that IT departments at small and medium-sized organizations have been long clamoring for. In addition, the Service-as-a-Software model opens up opportunities for SAManage to provide new analytical and benchmarking services that can add significant value to the management of IT assets."

"We are excited to partner with Xenia to support our new product development efforts," says Doron Gordon, CEO of SAManage. "We are seeing a growing demand for our SaaS IT Management services, which empower companies to better manage their IT Assets and reduce their IT costs and risks. Our ability to provide a cost-effective way for companies to manage their IT assets is extremely attractive in the current economy. We look forward to introducing our upcoming value-added IT Management products that will further enhance the way companies manage their IT operations and make purchasing decisions."

SAManage is an on-demand service that can be deployed within minutes across multiple locations, making it easy for companies of all sizes to establish IT governance, control, and compliance. SAManage offers a number of service plans that are available through the company's website and selected partners worldwide. To find out more about the SAManage IT Management SaaS service and subscription options, please visit http://www.SAManage.com.

About SAManage

SAManage is a leading provider of secure, Software-as-a-Service IT Management solutions that help companies manage their PC and software assets, organize software licenses and IT contracts, and detect risks and license compliance gaps. Delivered on-demand with no software or servers required, SAManage empowers companies of all sizes with capabilities that were previously available only to large companies. SAManage can be deployed within minutes across multiple locations, providing visibility into complex IT infrastructures, automating daily tasks, and simplifying IT governance, control, and compliance. For more information or to sign-up for an account, visit http://www.SAManage.com or call 1-888-250-8971.

About Xenia Venture Capital

Xenia Venture Capital (TASE: XENA) is a publicly traded investment company which operates a privatized technological incubator. Xenia specializes in investments in companies and start-ups in the fields of IT and medical devices. Xenia's Board of Directors and Advisory Board comprise highly successful business entrepreneurs, members of Israel's high-tech elite, such as Mr. Haim Mer, Mr. Avishay Noam (Chairman), Dr. Orna Berry, Mr. Avi Lior, Mr. Roni Einav, Mr. Aki Ratner, Mr. Gideon Mantel, Dr. Yafit Stark, Prof. Yossi Shaham, and others. Among Xenia's founders and main shareholders are the Novacom Group, controlled by Avishay Noam and H. Mer Industries, Anat Segal (CEO), as well as leading high-tech figures and institutional investors. The company's goal is to jump-start and support entrepreneurs so as to increase their chances of success in world markets and enhance the realization of their companies' business potential. Since its establishment at the end of 2003, Xenia has invested in eighteen companies, many of which have completed follow-on investments and have gone on to launch their sales efforts and form valuable international partnerships. Leading IT portfolio companies include, among others, Correlix, Arcos, BandWD, LinkIt, Contrust, AdYouNet, V-Cortex, M-Photo, Intuview and Playcast. In the medical devices field, Xenia has invested in BioProtect, NeatStitch, ActiVein, El-Vision, NexSig, Medi-tate, Slimedics, among others.

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Mike Tellon
SAManage
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