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NIRVAHA SECURES FUNDING FROM SEATTLE-BASED TECHNOLOGY LUMINARIES

(Seattle, WA) February 17, 2010/PRNewswire – Nirvaha Inc., a provider of on-demand quote software, pricing software, billing software and commission software, announced today it has secured funding from a group of Seattle-based technology luminaries including Ben Elowitz, Geoff Entress, Andy Liu, Scott Oki, Neil Patel and Edward Yim. The company will use the funds to advance the commercialization of its breakthrough Nirvaha™ technology – the only SaaS-based solution on the market that streamlines the quote-to-cash process between sales and finance teams within any size company. The funding also allows Nirvaha to aggressively advance product research and development for the next-generation version of its product.

“Nirvaha offers sales professionals, controllers, CFOs and other finance professionals an easy and cost-effective way to better manage their ‘quote-to-cash’ process,” said Nirvaha founder and CEO, Ramesh Parameswaran. “Greatly reducing the time, resources and expense associated with current processes, Nirvaha is dramatically advancing the way companies manage the way they do business.”

According to Nirvaha investor Geoff Entress, “This is an ideal opportunity to partner with a thought-leader and highly innovative SaaS-based technology provider. Nirvaha is backed by a superior management team that has developed a great product and is executing on a strategy that will make the company very competitive in the SaaS marketplace. We are all excited with the promise of Nirvaha and its technology.”

Nirvaha helps companies of every size convert their sales quotes to cash more efficiently and profitably through its SaaS-based solution that includes quote software, commission software, pricing software and billing software. Through each of its on-demand applications, Nirvaha empowers sales and finance professionals with “smart” quote, commission, pricing and billing tools designed enhance the way they already do business. With application features that include intelligent quoting that provides sales teams with real-time insight into the company’s price book, customizable quote templates to meet the needs of every unique business, and full commissions capabilities that allow finance professionals to appropriately track, credit and pay sales commissions by any specific sales program, Nirvaha is the solution of choice for today’s dynamic and market-leading organization.

Companies can get started with Nirvaha through “Nirvaha QuickStart” – a new program that provides customers with full product functionality at a price significantly less than the cost of competing technologies and includes subscription and support. Nirvaha QuickStart handles four critical aspects of a company’s sales and finance business operations – quoting, commissions, pricing and billings, and businesses can either deploy Nirvaha’s entire solution immediately or launch each module -- quote software, commission software, pricing software and billing software – on a one-by-one basis as their business grows.

Nirvaha Management Team

  •  RAMESH PARAMESWARAN, Founder & CEO: Seasoned entrepreneur, executive and technologist. A Microsoft veteran, Ramesh held several leadership roles while developing the Windows OS and Internet Explorer. Ramesh also held the distinction of becoming one of the youngest people ever to hold a General Management role at Microsoft and has started and sold several technology companies.
     
  • TOM BRUBAKER, Executive Vice President of Sales & Product Management: With more than 20 years experience, Tom has held senior management positions supporting sales and corporate development for emerging and large technology companies including Microsoft, Visio and Prepared Response. His business and leadership background also includes entrepreneurial positions at InView Software and Customerville, both of which he founded and served as CEO. At Customerville, Tom successfully managed the business through high growth and sale.

  • FREDERIC DE VEDRINES, Director of Development: Frederic spent over a decade at Microsoft in technical and management roles while working with Windows NT, Exchange Server, Internet Explorer and the Windows Presentation Foundation. He is also responsible for developing other next-generation technologies that have been successfully commercialized worldwide.

In addition to its stellar executive team and investor line-up, Nirvaha has attracted heavy hitters from the technology and business environment to join its board of advisors:

  •  SCOTT OKI: retired entrepreneur and executive. Founded Microsoft's International Division and also served as Senior Vice President, Sales, Marketing and Service. Currently a highly-active angel investor and business mentor.
     
  • SATYA NADELLA, Senior Vice President, Microsoft Corporation, Research and Development, Online Services Division: Leads Microsoft Corp.'s engineering efforts in the Online Services Division, which includes the Search (Live Search), Portal (MSN) and Advertising platforms.
     
  • BRUCE MACNAUGHTON, Partner CrossLink Capital: Highly seasoned venture capitalist and technology executive. Ex-Microsoft executive.
     
  • GEOFF ENTRESS, Venture Partner at Voyager Capital: Focuses on information technology investments in the Pacific Northwest. Former Venture Partner with Madrona Venture Group and current investor in over 35 private companies.

For additional information contact Nirvaha’s sales department at 206.447.8044 or via email at sales@nirvaha.com.

About Nirvaha, Inc.

Nirvaha Inc. is an innovative provider of on-demand sales and finance solutions. Founded by a former Microsoft executive and entrepreneur, Nirvaha is the first company to introduce technology specifically designed to automate the ‘Quote-to-Cash’ process through its quote software, commission software, pricing software and billing software. Nirvaha is privately-held and based in Seattle, WA. For more information call 206.447.8045, email info@nirvaha.com or visit the company’s website at www.nirvaha.com