CubeTree Secures $8 Million in Series B Financing Led by InterWest Partners

Funding Will Accelerate Growth at Enterprise Social Software Startup
REDWOOD CITY, Calif.--(Business Wire)--
CubeTree, a freemium enterprise collaboration suite built on a social networking
platform, today announced that it has secured $8 million in Series B financing,
led by InterWest Partners. Existing investor Trinity Ventures also participated
in this round. The company also announced that Bruce Cleveland of InterWest
Partners has joined CubeTree`s Board of Directors. To date, CubeTree has raised
nearly $12 million in funding, from venture capital firms InterWest Partners and
Trinity Ventures, as well as industry visionary Mitch Kapor. CubeTree will use
the capital raised to continue investing in product and market development.

Launched in May 2009, CubeTree delivers a hosted social networking platform with
enterprise collaboration tools like wikis, blogs and file sharing tightly
integrated into the social network. CubeTree`s software helps companies create
their own private, secure social networks. It takes under a minute to get
started, and the basic offering is free for an unlimited number of employees.

"CubeTree is seeing strong and increasing market demand for enterprise social
software suites," said Carlin Wiegner, chief executive officer and co-founder of
CubeTree. "Enterprise social software is an extremely fast-moving space and this
new investment round will allow us to maintain our aggressive speed of product
innovation, while accelerating the growth of the company. We are very excited to
be working with Bruce Cleveland and InterWest Partners on this round of
financing. We have been very impressed with their experience and depth of
understanding of SaaS and the enterprise applications and software space, and we
look forward to working with them."

"We firmly believe that CubeTree has market-leading vision in the enterprise
social software space," said Bruce Cleveland, partner, InterWest Partners.
"Since its launch in May 2009, CubeTree has clearly differentiated itself and
developed significant market momentum through its aggressive delivery of
innovative solutions. I'm looking forward to working closely with Carlin and his
team to support CubeTree`s growth as a major player in the enterprise social
software market."

About CubeTree

CubeTree is a freemium enterprise collaboration suite built on a social
networking platform that enables employees to connect, communicate and
collaborate efficiently and securely using a set of full-featured, integrated
tools. Delivered as a software service, CubeTree is designed for enterprises
ranging from start-ups to Global 500 companies. Founded in 2008, CubeTree is a
private company funded by InterWest Partners, Trinity Ventures and Mitch Kapor,
and is headquartered in Redwood City, Calif. For more information, please visit
www.cubetree.com.

About InterWest Partners

For 30 years InterWest (www.interwest.com) has partnered with exceptional
entrepreneurs to build winning technology and life sciences companies. With more
than 200 years of combined operating and investing experience, InterWest`s team
has raised $2.8B, completed more than 70 IPOs, and participated in nearly 60
upside acquisitions. As the firm invests InterWest X, a $650M fund, InterWest
continues to believe that providing capital is just the beginning of a long-term
collaboration with entrepreneurs to turn their vision into a thriving company.

The firm's past successful investments in life sciences include: ArthroCare
(ARTC), Aspreva Pharmaceuticals (ASPV, acquired by Galenica group, SWX:GALN),
Cor Therapeutics (CORR; acquired by Millennium Pharmaceuticals, MLNM), Corixa
Pharmaceuticals (CRXA; acquired by GlaxoSmithKline, GSK), Coulter
Pharmaceuticals (CLTR; acquired by Corixa Pharmaceuticals, CRXA), Cubist
Pharmaceuticals (CBST), Epicor Medical (acquired by St. Jude Medical, STJ),
Inspire Pharmaceuticals (ISPH), IntraLase (ILSE; acquired by Advanced Medical
Optics, NYSE:EYE), Myogen (MYOG, acquired by Gilead, GILD), NovaCardia (acquired
by Merck, MRK) Spinal Dynamics (acquired by Medtronic, MDT), TheraSense (THER;
acquired by Abbott Labs, ABT) and Ventritex (VNTX; acquired by St. Jude Medical,
STJ).

The firm's past successful investments in information technology include: CIENA
(CIEN), Copper Mountain Networks (CMTN), Crystal Semiconductor (acquired by
Cirrus Logic, CRUS), Cyrix (CYRX; acquired by National Semiconductor (NSM),
Lightera (acquired by CIENA), PlaceWare (acquired by Microsoft, MSFT), SiTera
(acquired by Vitesse, VTSS), Silicon Graphics (SGI), Stratacom (STRM; acquired
by Cisco, CSCO) and Xilinx (XLNX).

CubeTree
Sarah Tolle
310-210-4850
pr@cubetree.com

Copyright Business Wire 2009