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Siebel Executive and Software Industry Veteran, Bruce Cleveland, Joins InterWest Partners

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Siebel Executive and Software Industry Veteran, Bruce Cleveland, Joins InterWest Partners Jun 2006

Cleveland Brings Three Decades of Operational Experience and Unique Expertise to Venture Capital Firm

Menlo Park, CA - June 22, 2006 — InterWest Partners (www.interwest.com), a leading diversified venture capital firm, today announced the addition of Bruce Cleveland, recognized software industry veteran, as a partner with the firm. Cleveland will leverage his nearly three decades of operating expertise to seek new investment opportunities in the software and services sector with a focus on analytic applications and Software as a Service (SaaS).

"Bruce has worked with companies at every stage of the corporate lifecycle. He has an unusual combination of deep functional engineering and marketing experience and senior level general management," said Flip Gianos, Partner, InterWest Partners. "Bruce's experience with companies such as Siebel Systems, Apple Computer and Oracle Corporation will provide unique and valuable insight as he evaluates the people, strategies and execution plans of the opportunities we see. In addition, Bruce will be a very valuable resource to our existing portfolio companies."

Cleveland was one of the original members of the Siebel executive team. At Siebel, he held numerous executive positions including SVP and GM of Products, SVP and GM of the OnDemand and SMB divisions and Senior VP of Marketing and Alliances. In the later capacity, he is widely credited with creating the most effective alliance organization in the enterprise software industry. Cleveland also held executive positions in engineering and product management at Apple Computer and Oracle Corporation, and prior to Oracle, he held technical support and management positions at AT&T.

"I have had the tremendous good fortune to join and help build two software start-ups into industry leaders: Oracle and Siebel. Both capitalized upon technology transformations that led to rapid industry change: SQL/relational databases and object-based application development. Today, the software industry is going through yet another radical technology transformation. The combination of Service Oriented Architecture (SOA) and Software as a Service (SaaS) will foster an entirely new generation of software tooling, analytically-based applications, delivery systems and business models" said Cleveland. "As a partner with InterWest, I look forward to identifying, working with and coaching entrepreneurs who see the opportunity in these areas and helping them to become market leaders."
About InterWest Partners

For more than 30 years, InterWest has partnered with exceptional entrepreneurs to build winning technology and life sciences companies. With more than 200 years of combined operating and investing experience, the firm’s investing team has raised $2.8B, completed more than 70 IPOs, and participated in nearly 60 upside acquisitions. As the firm invests InterWest X, a $650M fund, the InterWest team continues to believe that providing capital is just the beginning of a long-term collaboration with entrepreneurs to turn their vision into a thriving company.

The firm's past successful investments in life sciences include: AkaRx (acquired by Eisai), ArthroCare (ARTC), Aspreva Pharmaceuticals (ASPV; acquired by Galenica group, GALN), Cor Therapeutics (CORR; acquired by Millennium Pharmaceuticals, MLNM), Corixa Pharmaceuticals (CRXA; acquired by GlaxoSmithKline, GSK), Coulter Pharmaceuticals (CLTR; acquired by Corixa Pharmaceuticals, CRXA), Cubist Pharmaceuticals (CBST), Epicor Medical (acquired by St. Jude Medical, STJ), Inspire Pharmaceuticals (ISPH), IntraLase (ILSE; acquired by Advanced Medical Optics, EYE), LenSx Lasers (acquired by Alcon, ACL), Myogen (MYOG; acquired by Gilead, GILD), NovaCardia (acquired by Merck, MRK), Spinal Dynamics (acquired by Medtronic, MDT), TheraSense (THER; acquired by Abbott Labs, ABT) and Ventritex (VNTX; acquired by St. Jude Medical, STJ).

The firm's past successful investments in information technology include: CIENA (CIEN), Copper Mountain Networks (CMTN), Crystal Semiconductor (acquired by Cirrus Logic, CRUS), CubeTree (acquired by SuccessFactors, SFSF), Cyrix (CYRX; acquired by National Semiconductor, NSM), Edify (EDFY; acquired by Security First Technologies, SONE), Epocrates (EPOC), Kalpana (acquired by Cisco, CSCO), Lightera (acquired by CIENA), Lombardi Software (acquired by IBM), Network Computing Devices (NCDI), Open Silicon (acquired by Unicorn Investment Bank), PlaceWare (acquired by Microsoft, MSFT), Platform Solutions (acquired by IBM), Radius, Rendition (acquired by Micron Technology, MU), Sierra Logic (acquired by Emulex, ELX), SiTera (acquired by Vitesse, VTSS), Silicon Graphics (SGI), Stratacom (STRM; acquired by Cisco, CSCO) and Xilinx (XLNX).

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