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 Encover Secures $11 Million in New Funding from DCM - Doll Capital Management and Sigma Partners Consistent Success in Maximizing Services Revenue for Market- Leading Companies Fuels Encover's Growth and Latest Funding MOUNTAIN VIEW, Calif., (May 17, 2004) - Encover (TM), Inc., the leading provider of technology-enabled services for marketing, selling and managing service contracts, today announced that it has secured $11 million in new capital, led by DCM - Doll Capital Management alongside previous investor Sigma Partners. The company also announced that Tom Blaisdell, general partner at DCM, has joined Encover's Board of Directors. The board is comprised of Blaisdell, Peter Solvik, former CIO of Cisco Systems and managing director at Sigma Partners, Chip Overstreet, Encover's CEO and Sridhar Krishnan, Encover's chairman and chief technology officer. Encover plans to use the funds for continued investment in its market- leading technology, and expansion of its service contract sales & marketing operations. Since the company's founding, Encover has raised approximately $18 million in capital. In a separate announcement today, Encover signed a global partnership with TATA Consultancy Services in order to expand its service delivery capabilities. "A core investment philosophy at DCM is to follow the customer - to put our money into companies where their end customers consistently realize both tactical and strategic value," said Tom Blaisdell, general partner at DCM. "Companies that work with Encover are realizing millions in incremental, high margin revenue, driving both top- and bottom-line growth. Encover's service sales experts, robust technology and proven methodologies are key to achieving the revenue goals of leading high technology manufacturers. We look forward to working with the Encover team to help transform services into a strategic competitive advantage for manufacturers and their partners." "By offering the most comprehensive marketing, sales and contract management for service contracts, Encover is helping premier companies like Kodak, Xerox, Juniper Networks and Enterasys drive high margin services revenue to fund their core service programs," said Chip Overstreet, president and CEO of Encover. "In addition to a direct, positive impact on revenue, our customers gain significant loyalty from their channel partners by helping them drive their highest margin product. This new investment from DCM and Sigma will enable us to expand our operations and drive success with additional high tech manufacturers and their channel partners." Encover is the first and only technology-enabled service provider exclusively focused on service contracts. The company delivers comprehensive service marketing, sales and contract management capabilities through both a managed service solution, and through a suite of integrated services, including complete outsourcing of the end-to-end service marketing and sales processes. Underlying these capabilities are Encover's proven methodologies and best practices, and its robust, enterprise class service contract management application. Founded by Sridhar Krishnan, the architect behind Cisco's award-winning Service Contract Center, Encover provides a revenue-generating business solution that can start delivering results in just 30 days. "When you study the market dynamics in the high tech world, services are clearly becoming a critical battlefield for competitive advantage. For sustainable growth, manufacturers need to invest in marketing and selling services the same way they have invested in these areas for products," said Peter Solvik, managing director, Sigma Partners. "Encover is helping manufacturers realize the true potential of the services side of their organization, while making a significant impact where it matters most - the top- and bottom-line. We look forward to continued success in working with the Encover team." About DCM-Doll Capital Management DCM is a top-performing venture capital firm supporting entrepreneurs building early-stage technology companies. DCM's partners, armed with over a century of operational and investing experience, have funded leading technology companies including About (Primedia), Foundry Networks (Nasdaq:FDRY), HireRight, Internap (AMEX: IIP), IPivot (Intel), nQuire (Siebel), Recourse Technologies (Symantec), UUNet (MCI), PGP Corporation and SMIC (NYSE: SMI). DCM offers hands-on operational guidance and access to an extensive network of resources, including close relationships with many of the Pacific Rim's leading companies and investors. Visit DCM's website at www.dcmvc.com About Sigma Partners Sigma Partners, a high technology venture capital firm with over a billion dollars under management, helps entrepreneurs transform ideas into substantial, profitable businesses. Our partners have experience as successful CEOs, entrepreneurs and technologists. With this deep operating and technical insight we help build teams and strategies that produce sustainable value and successful outcomes. We were early investors in companies such as Cascade, Wellfleet, Vignette, StorageNetworks, Internet Security Systems, Verifone, Clarify and Tradex. CEOs of Sigma portfolio companies speak highly of how we leverage our network, our experience and our creativity. Our team also invests meaningful personal funds alongside the main fund, giving a sense of our active, long- term commitment to our portfolio companies. About Encover, Inc. Encover, Inc. is the leading provider of technology-enabled services for marketing, selling and managing service contracts. High technology manufacturers and their channel partners work with Encover's service marketing and sales experts to transform services into a strategic competitive advantage by improving installed base visibility, streamlining the service contract lifecycle, and improving partner and customer loyalty. Encover's solutions are built upon a foundation of proven methodologies, best practices and its enterprise class service contract management application. The company has top tier clients "including Cisco, Diebold, Kodak and SonicWALL" For more information on Encover, visit www.encover.com, or call 650-903-8700. Encover is a trademark of Encover, Inc. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners. Encover Media Contacts: Andrew Hoerner © Copyright 2000-2008 Encover Inc. 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