Palamida(tm), a provider of software intellectual property (IP) management and compliance products and services, today announced that it has raised $8 million in its second round of venture capital financing. The Series B funding, which was led by Mitsui & Co. Venture Partners, includes Series A investors Hummer Winblad Venture Partners and WaldenVC.

"The international reach and reputation that Mitsui & Co. Venture Partners brings to Palamida will be invaluable as we expand worldwide, and we are very pleased that they are joining our existing investors," said Mark Tolliver, Palamida CEO. "The world of software development has changed, and today's software projects contain contributions from many sources, including open source. This 'mixed code' model demands increased attention to issues of intellectual property integrity, security and governance, and has created an exciting opportunity to help our customers ensure that their software assets are visible, traceable and manageable."

Through patented multi-pattern search technology combined with advanced filtering and ranking, Palamida products are able to comb through billions of software fingerprints to accurately detect and report on the content of software products. Palamida customers include Avaya, Cisco Systems, EMC, Microsoft, and Sun Microsystems, among others.

"The success that Palamida has already achieved through the company's best-of-breed approach to software content detection and breadth of compliance library was key in our decision to invest in the company," said Richard See, Investment Partner, Mitsui & Co. Ventures. "That, along with an experienced management team, gives us confidence that Palamida is well-positioned to lead the evolution of a new class of tools and services that accelerate the development, governance and security of software projects within organizations worldwide."

This new investment follows a Series A funding of $5 million in December 2004, bringing the total capital raised to $13 million. In addition to Hummer Winblad Venture Partners and WaldenVC, Stanford University was a Series A investor.

About Mitsui & Co. Venture Partners
Mitsui & Co. Venture Partners (MCVP) is a provider of early stage venture capital for various types of U.S. technology firms with a special expertise in helping to build their businesses globally. Over the years, they have invested in breakthrough technologies in the communication, software, information series, life science and medical device industries and accelerated their growth. Located in New York, Silicon Valley and Tokyo, MCVP currently manages over $280 million in capital. For more information about MCVP, visit www.mitsuivp.com.

About Hummer Winblad Venture Partners
In 1989, Hummer Winblad Venture Partners was created as the first venture capital firm focused exclusively on software. As the software industry has grown from PC software to enterprise computing to Internet applications, Hummer Winblad has been at the forefront - funding the entrepreneurs and ideas that helped define these markets. The firm's goal is to provide the capital, experience, and vision that will help portfolio companies become leaders in this new software economy. For more information on Hummer Winblad, visit www.humwin.com.

About WaldenVC
WaldenVC is a venture capital firm that focuses on investments in Digital Media, Technology-Enabled Services, and Internet Commerce companies. With over $400 million under management, WaldenVC invests across all stages of growth, from startups to public corporations. Leveraging its operating experience and industry expertise, WaldenVC has consistently generated above-average returns over its thirty-two year history. Additional information can be found at www.waldenvc.com.

About Palamida
Palamida answers the question "What's in your code?" by providing an unprecedented level of software transparency. By empowering customers with insightful information about their software assets, Palamida products and services offer accurate evaluations of software during acquisitions, on-going testing against intellectual property policy during application development and governance of software environments. Founded in 2003, Palamida is led by industry veterans and backed by leading venture capital firms. Investors include Hummer Winblad Venture Partners, Mitsui & Co. Venture Partners, WaldenVC and Stanford University. Read Palamida's blog at palamida.blogs.com or for more information visit www.palamida.com.