Syndera Corporation Secures $10 Million in Series B Financing

Financing of Operational Intelligence Software Provider Led by Private
Investor Andy Ludwick

REDWOOD CITY, Calif., June 20, 2005 - Syndera Corporation, a leading provider of Operational Intelligence software, today announced it has raised $10 million in Series B financing led by private investor Andy Ludwick. Ludwick has been a member of the Syndera Board of Directors since May 2003. Existing investors, Clearstone Venture Partners and ONSET Ventures, also participated pro-rata in this round of financing.

"Syndera has a great market opportunity because it is the only vendor to address the urgent need for heightened visibility and actionable intelligence in today's high-speed electronic business environments," said Ludwick. "Uniquely, Syndera provides complete visibility and control of these automated processes for timely, intelligent decisions that lead to greater business responsiveness."

"The new investment by Andy, Clearstone and ONSET represents a strong validation of the Syndera value proposition," said Prashant Gupta, founder and CEO of Syndera. "The Syndera Operational Intelligence solution empowers decision makers to easily monitor and analyze key performance indicators, readily identify problems, discover opportunities and take immediate action. With Syndera, users are able to take advantage of new revenue opportunities, reduce operating costs and gain competitive advantage."

The new investment will allow Syndera to accelerate its product development and expand its core business operations, including sales and marketing.

About Syndera

Syndera is a leading provider of Operational Intelligence software that delivers real-time visibility and control of automated processes. The Syndera solution empowers users to monitor, analyze and react to events in a timely, effective manner, and establish a more responsive, competitive business. Syndera Corporation is a privately held company headquartered in Redwood City, California.

For more information about Syndera, please visit www.syndera.com.

About Andy Ludwick

Andy Ludwick was the co-founder of SynOptics Communications and the former CEO of Bay Networks. As CEO of SynOptics, Ludwick grew the company from a startup to $700M in annual revenue. During his tenure as CEO of Bay Networks, formed in 1994 by the merger of SynOptics Communications and Wellfleet Systems, Bay Networks grew from $1.2B to $2.0B in annual revenues. Bay Networks was acquired by Nortel Networks in 1996. Prior to founding SynOptics, Mr. Ludwick was with Xerox Corporation. He received a BA degree from Harvard College ('67) and an MBA from the Harvard Business School ('69.) He serves on the Board of Directors of Foundry Networks and is also a director of the Santa Rita Foundation, a private non-profit charitable organization.

About Clearstone Venture Partners

Clearstone Venture Partners is a technology-focused venture capital firm with $450 million under management. With offices in Menlo Park and Santa Monica, Calif., Clearstone invests in early-stage companies in the areas of software and communications. Clearstone has a history of leadership in financing and building high-growth technology start-ups, having backed leading companies including Overture Services (OVER), Paypal (EBAY), and United Online (UNTD). For more information please visit www.clearstone.com.

About ONSET Ventures

Based in Menlo Park, ONSET Ventures has more than $500 million under management. The company provides venture capital to early stage companies in the information and medical technology markets. Since 1984, ONSET Ventures has provided both the start-up investment capital and the dedicated mentoring that innovative young companies need to grow and succeed. For more information please visit www.onset.com.