Mitsui & Co. Global Investment (MGI) - Venture Capital, Start-Up

NEWS 2008

[03/05/2008]

Laszlo Systems Secures $6.6 Million in Additional Funding

Leading Rich Internet Application Provider To Expand Webtop Product Development and Sales Distribution Channels

SAN MATEO, Calif. (March 5, 2008) - Laszlo Systems, a global leader in Rich Internet Application (RIA) software and solutions and the original developer of the open source development platform, OpenLaszlo, today announced that the company secured an additional $6.6 million to formally close its Series C funding round. All existing investors participated in the financing, including WI Harper Group, General Catalyst Partners, Sofinnova Ventures, Mitsui & Co. Venture Partners, and other private investors.

Laszlo will use the new capital to expand the product development and sales distribution of its innovative Web 2.0 desktop offering, Laszlo Webtop™. Targeted at service providers and consumer-facing enterprises, Laszlo Webtop is an extensible suite of RIA and Web 2.0 communication and collaboration applications (starting with ready-to-go Mail and Contacts) that is already being used by some of the world’s largest telecommunications companies, such as Verizon

“We are pleased to have the continued backing of our experienced investors to support the future development of RIAs and unified communications experiences,” said Steve Ciesinski, Chairman and CEO, Laszlo Systems. “Our ongoing customer wins and demand for further innovation - both around Laszlo Webtop’s sophisticated applications and OpenLaszlo’s diverse runtimes - are added evidence that we are leading the market in the right direction.”

Hundreds of blue chip companies and corporations rely on Laszlo’s technology today, including Monster, Walmart, T Rowe Price, Pandora, Barclays Global, IBM, and H&R Block. Laszlo Webtop is built on top of the award-winning, open source OpenLaszlo platform, which has been adopted by tens of thousands developers worldwide. For more information, please visit www.laszlosystems.com.