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Demand for Mindjet's Productivity Software Drives 40 Percent Growth

Posted on: Tuesday, 28 February 2006, 09:00 CST

Mindjet, the leading provider of software for visualizing and managing information, today announced annual revenues of nearly $30 million, a 41 percent increase from the prior year. The privately-held company credits its continued strong growth to the increasing demand for ways to better harness ideas and information for improved planning and decision making.

Mindjet has also benefited from increasing awareness of mind-mapping, the visual process behind the company's technology. In fact, Microsoft's Bill Gates recently declared that "a new generation of 'mind-mapping' software can also be used as a digital 'blank slate' to help connect and synthesize ideas and data -- and ultimately create new knowledge." This is precisely how Mindjet's 750,000 customers around the world currently use the company's MindManager software.

Highlights of Mindjet's recently completed year include the shipment -- and strong market adoption -- of three new products, new funding and significant new partnerships.

Excellent customer response to new business productivity products

In September, Mindjet launched Mindjet(R) MindManager(R) Pro 6 (http://www.mindjet.com/us/products/mindmanager_pro6/), the latest version of its flagship software. Included in MindManager Pro 6 is the ability to link additional content to Microsoft Excel and Visio to drive more powerful meetings, planning and workgroup productivity.

The release spiked sales and garnered great industry response. For example, enterprise software analyst Josh Greenbaum called MindManager "the most significant revolution in user interfaces in a long time."

Businesses and organizations, ranging from the Federal Aviation Administration to Radio Shack to Consolidated Edison of New York, are tapping into this intuitive format for visually depicting -- at a glance -- core contextual information used to drive business decision making.

September also marked the launch of Mindjet MindManager Viewer 6 (http://www.mindjet.com/us/products/mindmanager_viewers/), a free product that enables users who don't own a copy of MindManager to view and interact with mind maps. Mindjet also launched a beta version of the free MindManager Viewer (http://www.mindjet.com/us/beta/embedded_map.php?s=9), which enables maps to be shared using Microsoft Internet Explorer. The two viewers have helped support the strong viral adoption of MindManager within companies where usage may have begun with a handful of licenses but has quickly swelled to hundreds.

Earlier in 2005, Mindjet launched MindManager Accelerator for Salesforce.com (http://www.mindjet.com/us/solutions/business/sales/ salesforce.php?s=5). (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) The Accelerator enables users to link their mind maps to existing core corporate data from the Salesforce database. This substantive data link has been embraced within enterprises and will be followed by subsequent MindManager Accelerator products for other popular business applications.

Company builds out management and infrastructure to support growth

Globally, Mindjet has grown from 96 to 160 employees in the past year. To facilitate that level of sales, product and personnel growth, the company also extended its management team, recently hiring Bob Daw, from Diversified Software Systems, as Vice President of Sales and Marketing for the Americas and Asia-Pacific. He joins technology industry veterans Eric Borrmann, former CFO of Plumtree Software, and Richard Barber, former CTO and Vice President of Engineering for US Oncology, who assumed those respective roles at Mindjet in Q4, 2005.

Mindjet also extended its sales reach in 2005 by forming two key partnerships. The first is with CDW (www.cdw.com), a Fortune 500 provider of technology solutions to businesses, government, education, and healthcare organizations. The CDW alliance has significantly increased MindManager's availability to access large audiences in key growth sectors. The second partnership is with The Douglas Stewart Company (http://www.dstewart.com/), a leading provider of software and peripherals to the education marketplace. The education market, which is traditionally overwhelmed by the scope and complexity of information it must manage, has demonstrated an immediate and high level of interest in MindManager, positioning this as a strong growth partnership.

The company also secured a second round of funding in Q2 from Investor Growth Capital and 3i totaling $15 million, to support its rapid expansion.

Recent industry recognition includes:

-- CODiE Awards Finalist: MindManager Pro 6 is currently a finalist for Best Business Productivity Solution and Best Education Technology Solution for Productivity/Creativity.

-- Deloitte and Touche Technology Fast 500 for 2005 (for demonstrating more than 750% growth over five years)

-- Software Magazine's Software 500, 2005

-- Mobile Star's Best Enterprise Software and Best Personal Software, 2005, for MindManager Accelerator

-- San Francisco Business Times' 2005 Top 100 Fastest Growing Private Companies

"Mindjet technology allows organizations, from multi-national corporations to government agencies, to more effectively capture, organize and share key intellectual assets," says Robert Gordon, CEO, Mindjet. "MindManager's unique ability to make ideas and information immediately actionable has fueled year-after-year revenue growth of more than 40 percent in an era of otherwise modest technology adoption. And we've only begun to scratch the surface of the market potential."

About Mindjet

Mindjet Corporation, the leading provider of software for visualizing and managing information, provides applications for business teams to think together, plan together, and work together. Mindjet MindManager, the company's award-winning flagship product with 750,000 licenses sold worldwide, is productivity software designed for business professionals working as individuals or in teams at Global 2000 companies. With headquarters in California and operations throughout the world, Mindjet is backed by leading international venture capital firms Investors Growth Capital and 3i. More information is available by calling toll-free 1(877)MINDJET or by visiting http://www.mindjet.com.

Source: Business Wire

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