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SERENDIPITY RAISES $5.1M IN SERIES A FINANCING FROM GENESIS PARTNERS AND INDEX VENTURES


YAKUM, ISRAEL – SEPTEMBER 6th, 2006 – Serendipity Technologies Inc., a provider of next-generation Enterprise 2.0 infrastructure software, today announced the completion of a $5.1M series A round of equity financing, led by Genesis Partners. Index Ventures, and Checkpoint Software Co-founder and Imperva CEO, Shlomo Kramer also participated in the round. Previously, Genesis Partners and Shlomo Kramer participated in a $500,000 early seed financing round in February 2006. Additionally, Serendipity announced that Yaron Polak, partner at Genesis Partners, Bernard Dallé, general partner at Index Ventures, and Shlomo Kramer, have joined the company’s Board of Directors.

Serendipity is currently developing ‘Enterprise 2.0’ software solutions, which are designed to leverage the power of next-generation internet technologies to solve real business challenges. By combining security, ease of implementation, ease of data and system integration, and enterprise-class management capabilities Serendipity is creating technology necessary for today’s corporate environments. Serendipity is partnering with Global 500 enterprises to develop its premiere release, which is scheduled for Q1 2007.

“We welcome this round of investment from truly value-added investors who are partnering with us to pursue the Enterprise 2.0 opportunity,” said Shahar Kaminitz, CEO of Serendipity. “There is a tremendous need to simplify the way enterprise application data is accessed by knowledge workers and customers and we are determined to take the leadership position in this nascent market.”

“Serendipity is poised to revolutionize the way enterprises will leverage the phenomenal advances being made in the consumer world of web 2.0,” said Yaron Polak, a Partner at Genesis Partners. Polak added, “Serendipity is the first company in Genesis’ Early Seed Program and the first company in the program to receive a follow-on investment. Our early investments in Serendipity demonstrate our confidence in this talented group and its disruptive technology.”

“Serendipity aims to bring the power and flexibility of Web 2.0 technologies into the enterprise, thereby enabling knowledge workers to use and benefit from Internet tools and services that they have embraced as consumers,” said Bernard Dallé, a Partner at Index Ventures. “We are pleased to be part of this exciting company.”


About Serendipity
Serendipity is an early-stage software start-up company that is developing a next-generation enterprise business solution. Serendipity’s Enterprise 2.0 infrastructure platform enables enterprises to streamline and vastly simplify the way their employees, partners, and customers access and consume information from enterprise applications in a secure and scalable fashion. The company is based in Yakum, Israel.

Serendipity was founded by Shahar Kaminitz and Yuval Tarsi. Kaminitz is a serial entrepreneur with over 17 years of experience in software and Internet industries. Prior to founding Serendipity, Kaminitz was involved in Venture Capital investments in Israel, as well as being a key member of several software start-ups. Kaminitz also spent ten years at Amdocs (NYSE: DOX), where he founded the company’s E-business Applications Group. Tarsi served as VP of R&D at cRight and at Trivnet. Previously, Tarsi served as an officer in an elite technology unit within the Israeli Defense Forces Intelligence Corps. For more information, please visit http://www.serendipity-tech.com


About Genesis Partners
Genesis Partners is a leading Israeli venture capital firm focused on early stage companies in the information and communication technology (ICT) sectors. Established in 1996, Genesis Partners manages over $500 million in capital commitments across three funds, and has made over 70 investments with 22 successful exits. Genesis Partners has strong ties to the Israeli entrepreneurial community and the global technology industry, and a strong team of venture professionals w


Publisher Contact Information:

Serendipity Technologies Inc.
+972.9.961.5210
media@serendipity-tech.com

Company profile of WorkLight (formerly Serendipity Technologies) (acquired by IBM)
Past press releases of WorkLight (formerly Serendipity Technologies) (acquired by IBM).

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