PenMagic Completes First Round of Venture Funding; Kleiner Perkins and Integral Capital Partners Back Company’s Pen Computer Software Mission

September 30, 1992 — PenMagic Software Inc. Wednesday announced that it has received $2.0 million in a first-round funding by two Palo Alto, Calif.-based companies: Kleiner Perkins Caufield & Byers and Integral Capital Partners.

Since its founding in September 1990, all of the company’s research and development and early marketing activities have been internally funded. The new financing will be used to expand the marketing efforts of its first product Numero — a financial work processor for the PenPoint operating system, and to develop and market additional software applications.

“We are excited to have Kleiner Perkins and Integral Capital Partners involved with our company,” said PenMagic President Norm Francis. “The partners in both firms have great insight into the mobile computing market as well as into the strategic opportunities and partnerships we might pursue.”

Kleiner Perkins Caufield & Byers is one of the leading venture capital firms in Silicon Valley and specializes in in-vestments in technology companies. Integral Capital Partners manages an investment fund specializing in both private and public companies technology. The funding of PenMagic marks the first investment in a Canadian company for both firms.

Doug Mackenzie, partner, Kleiner Perkins will join Norm Francis and Keith Wales, R&D vice president, on PenMagic’s board. “Through the innovation and insight it has demonstrated to date, we expect PenMagic to play a significant role in pioneering and developing the mobile computing market,” said Mackenzie.

“We are impressed with PenMagic’s strong vision, quality products and dynamic team of people and are pleased to have the opportunity to contribute to the company’s success.”

PenMagic Software Inc. is a privately-held company based in North Vancouver. Founded in September 1990 by a team of personal computer industry veterans, the company’s vision is to create new and better ways for people on the move to use the computer.

The company’s products combine the familiarity and directness of pen-on-paper with behind-the-scenes software intelligence that helps people get their jobs done quickly, wherever they work, with the stroke of a pen.

The company currently markets Numero, a financial work processor application; The Executive Assistant, a Numero special edition; and the Numero Software Development Kit, used by programmers to interface other applications with Numero.

Note to Editors: Numero is a trademark of PenMagic Software Inc. PenPoint is a trademark of GO Corp.

CONTACT:
PenMagic Software, North Vancouver
Norm Francis, 604/988-9982
or
Eastwick Communications
Carol Moran, 415/306-4194