Mirus Capital Advisors Serves as Advisor on Recapitalization of Insight Direct

Mirus Capital Advisors Serves as Advisor
on Recapitalization of Insight Direct

Growth Capital Investment by Key Venture Partners Is First Institutional Investment
in Field Service Management Software Firm

Boston, MA, July 30th, 2007 –– Mirus Capital Advisors, a middle-market investment bank, announced today that it has advised Insight Direct, a leading provider of business management software for field service companies, in obtaining its first infusion of institutional capital. Under the terms of the deal, Key Venture Partners, of Waltham, MA, has invested an undisclosed amount into Insight Direct for working capital and redemption of existing stock held by the company’s founders.

Founded in 1997, Insight Direct is headquartered in Boston. Insight Direct's flagship product, ServiceCEO®, is installed in 28 countries and used by approximately 4,000 SMB field service customers. ServiceCEO enables field service organizations to manage their day-to-day operations, including everything from marketing to the initial customer call through to invoicing and receivables. All customer records, schedules, dispatch needs as well as personnel information, including a complete history of events, are managed within ServiceCEO.

“This capital raising mandate had two objectives, and we’re very pleased to have achieved both of them for Insight Direct’s shareholders,” said Peter Alternative, the Mirus partner who managed the transaction. “During its first 10 years, Insight Direct has been very successful in establishing itself as a market leader. With the rapid growth in field service’s technical adoption, Insight Direct’s first objective was to obtain capital to further accelerate their growing market share. The second objective was a partial liquidity event for the company’s founders.”

“Having never raised capital before, I engaged Mirus Capital Advisors to assist with our efforts” said Insight Direct’s CEO Mark Kushinsky. “Mirus listened to our needs and put together a plan to reach our goals. Their relentless focus, energy, and commitment to providing objective advice were particularly appreciated. It was vital for our future growth plans to have this deal go well, and Mirus guided us through every step with extreme professionalism and dedication.”

“We’ve looked at a number of software companies serving the SMB market, however, Insight Direct stood out as a Company with a business model and a management team that can scale well”, said Vaibhav Nalwaya, Vice President at Key Venture Partners, the principal who led Key’s deal team.

About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to corporate clients in the areas of software, online media, business services and niche manufacturing. Celebrating its 20th anniversary this year, Mirus provides corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. For additional information, visit http://www.merger.com.

About Insight Direct
Insight Direct develops and markets ServiceCEO, recognized as the leading business management software solution for the field service industry. Since the introduction of its first-generation product in 1997, Insight Direct has sold its software in more than 28 countries to over 4,000 customers including COIT Services, Critter Control, Expetec, Handyman Network, THE MAIDS Home Services, Professional Carpet Systems, Schneidt & Bachmann USA, SparkleWash and Uniliver. For more information, visit http://www.insightdirect.com.

About Key Venture Partners
Key Venture Partners is a Waltham, MA, based growth equity investor with approximately $175 million of capital under management. The firm’s industry segment focus areas for investments include software, communications, information services and IT-enabled services sectors. KVP makes $5-$15 million investments in established revenue stage companies with capital-efficient business models. For more information, visit http://www.key.com/keyventurepartners.

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