GaleForce Solutions Secures Venture Capital to Accelerate Growth

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April 27, 2006

GaleForce Solutions Secures Venture Capital to Accelerate Growth

GaleForce Solutions today announced that it has secured a second round of funding from three of Canada’s top-tier investor groups—Yaletown Venture Partners, BC Advantage Fund and Discovery Capital.

GaleForce Solutions, founded in April 2003, has leveraged core Microsoft DynamicsTM CRM 3.0 customer relationship management (CRM) technology to create highly customized CRM solutions for Wealth Management, Capital Markets and Commercial and Retail Banking. The company is 100% focused on Financial Services, CRM, and Microsoft infrastructure.

“Thanks to the new funding, we can deepen our account management coverage in high priority regions,” said GaleForce CEO John Fraissinet. “We will also deliver integration with key back office systems via BizTalk 2004 and continue to utilize more of the Microsoft technology stack to develop next generation capabilities such as role-based analytics and secure instant messaging, to make GaleForce the number one choice for financial services organizations.”

The GaleForce funding represents a unique collaboration between Yaletown Venture Partners, Advantage and Discovery Capital. “We are delighted to be joined by BC Advantage and Discovery Capital as investment partners in GaleForce. Their strategic insight and financial acumen will be invaluable as we embark on the next phase of the company’s growth,” said Yaletown Partner Mike Satterfield.

Advantage was established to maximize shareholder returns from a portfolio of emerging BC technology companies. “I’ve been keeping an eye on GaleForce for some time and am excited by the opportunity to support this growing company. In addition to their pure focus on the financial services industry, GaleForce has the unique advantage of leveraging technological, sales and marketing partnerships with Microsoft,” said David Raffa, Advantage COO and Fund Manager. “GaleForce is Microsoft’s go-to partner for the financial services industry. It doesn’t get much better than that.”

Discovery Capital focuses primarily on the enhancement of B.C.-based technology ventures, in the information technology, communications, health & life sciences, and advanced technologies sectors. BC Discovery Fund (VCC) Inc. (“BCDF”), a venture capital fund managed by a wholly owned subsidiary of Discovery Capital Corporation, participated in the GaleForce funding. “We’re excited to expand the Fund’s portfolio to include GaleForce Solutions,” said John McEwen, BC Discovery Fund CEO. “We believe that the combination of a tailor-made CRM solution and a value-add channel strategy will give GaleForce a unique competitive advantage in the financial services market.”

About Yaletown Venture Partners

Based in Vancouver, British Columbia, Yaletown Venture Partners is a venture capital firm that invests time, expertise, and money in seed and early-stage technology companies. Yaletown focuses on Western Canada's vibrant Information Technology and Energy Technology clusters. Yaletown’s investment managers bring a combined sixty years of early-stage company-building and financing experience to each portfolio company. For more information, visit http://www.yaletown.com.

About BC Advantage Fund

Advantage is a life sciences and technology fund that offers everyone in BC the opportunity to participate in returns from some of our Province's most promising young technology and life science companies. Investors receive a 30% refundable tax credit from the BC Government on investments of up to $200,000 per year. For more information, visit http://www.bcadvantage.xplorex.com/.

About Discovery Capital

Established in 1986, Discovery Capital is one of Canada's most experienced technology venture capital firms. Discovery Capital has enhanced value for over 250 early-stage technology companies by providing proven expertise in strategic planning, management development, innovative financing strategies, corporate governance, and positioning for liquidity. For more information, visit http://www.discoverycapital.com.

About GaleForce Solutions

GaleForce Solutions, a privately held and venture-backed company, has leveraged core Microsoft customer relationship management technology to create GaleForce CRM for Financial Services—designed specifically to meet the unique requirements of managing and optimizing high value financial services clients. With GaleForce CRM for Financial Services, Account Managers and their organizations gain the unmatched advantage of a low risk, easy-to-use client management solution that establishes a life-time view of the customer, supports personalized client service, increases sales force productivity, reduces customer churn and increases market share. GaleForce Solutions is a Microsoft Gold Certified Partner. Headquartered in Vancouver, British Columbia, GaleForce Solutions has offices in the US and Canada, and can be found on the Internet at www.galeforcesolutions.com.