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ORLANDO, FL and BEND, OR., April 27, 2004 - Innoprise Software, Inc., an enterprise software company providing solutions for the utility and local government markets, today announced that it has closed a $4.0 million Series A round of financing. The lead investor of this round was ArrowPath Venture Partners of Menlo Park, CA.

“Most utilities and government agencies are running monolithic legacy systems that were designed and implemented many years ago," said Tom Bevilacqua, managing partner at ArrowPath Venture Partners. "Not only are these legacy systems costly and difficult to modify and maintain, but in many cases they pose a severe risk to the entity's ability to meet its business objectives. Innoprise Software has developed a product suite that delivers significant cost efficiencies and enhanced capabilities to its customers. The company will use the proceeds of its Series A funding to bring this product suite to market."

"We are excited to have the support of ArrowPath," said Dennis Harward, founder and CEO of Innoprise Software, Inc. "In working with our customers in the development process, Innoprise Software has developed an enterprise software product suite based on an open architecture using J2EE. We will begin deploying our legacy-free, browser-based applications at client sites in May. Innoprise is now well-funded to carry out our software development and marketing initiatives to meet the demands of utilities and government agencies who are seeking solutions that address the shortcomings of existing systems in the market today."

Innoprise is led by CEO Dennis Harward, who is the former CEO and founder of H.T.E. Systems. As a result of the financing, both Tom Bevilacqua, managing partner at ArrowPath Venture Partners and Rob McIntosh, principal at ArrowPath Venture Partners, will join Innoprise’s Board of Directors.

About Innoprise Software, Inc.
Innoprise Software, Inc.™ provides enterprise software for the specific business challenges of utilities and local government agencies. For the last two years, the company has teamed with a core group of customers and concentrated all of its resources on developing next generation software for CIS, financial management, community development and work management. The new software is based on 30 years of industry experience, Java and Internet technologies that enable Innoprise customers to reduce their cost of service, streamline operations and improve productivity. For additional information, visit www.innoprise.com.

About ArrowPath Venture Partners
ArrowPath is a unique, $400 million early stage venture capital firm located in Menlo Park, California. ArrowPath selectively invests in information technology companies that have differentiated product offerings and prospects for market leadership over time. Areas of investment include enterprise software, network security, data and storage networking, vertical applications, web services and other data-center and application software technologies. For additional information, visit www.arrowpathvc.com.

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