ForeSee Results Secures Major New Investment

ANN ARBOR, MI (April 5, 2007) - ForeSee Results today announced the completion of a $20 million financing, led by Updata Partners (www.updatapartners.com) with Investor Growth Capital (www.investorgrowthcapital.com) as co-lead. The two investment firms join Ann Arbor firm CFI Group as investors in ForeSee Results.

“This timing couldn’t be better for us,” said Larry Freed, President and CEO of ForeSee Results. “We’ve doubled our revenues and increased our staff by more than 50% over the last two years. This substantial new investment will provide additional resources to continue and accelerate our growth, and it will help us maintain our position as the market leader in online customer satisfaction measurement.”

ForeSee Results uses the methodology of the University of Michigan's American Customer Satisfaction Index (ACSI) to help companies improve online customer satisfaction in a way that positively impacts revenues and profitability. ForeSee Results has collected more than 18 million online customer satisfaction surveys since their inception five years ago, and currently serve more than 350,000 surveys a day for clients in the retail, financial services, healthcare, technology, BtoB, and government sectors.

"ForeSee Results is one of many promising technology companies taking root and growing in Michigan," Michigan Economic Development Corporation President and CEO James C. Epolito said. "It is also an example of how Michigan companies are attracting investment capital from outside the state to fuel their growth--something that is occurring with increasing frequency."

ForeSee Results will benefit from the expertise of both new investors. “Each investor brings value to ForeSee including great depth of experience in the internet technology space, international influence, long term credibility and a vast network of professional relationships we hope to leverage,” said Freed.

“As we’ve got to know ForeSee Results, we’ve been increasingly impressed by the strength and uniqueness of their offering; their history of consistent, capital-efficient growth; and the knowledge and commitment of their team. We believe that web site operators across all industries are increasingly looking beyond the ‘what’ to understand the ‘why’ behind customer and visitor behavior, and that Foresee Results is uniquely well-positioned to help them answer this critical question,” said Noah Walley, Managing Director at Investor Growth Capital.

“Updata Partners is focused on identifying investment opportunities in the ecommerce sector, and we're excited to back the market leader in online customer satisfaction measurement, an increasingly critical, strategic solution adding insight that traditional web analytics cannot deliver," said Barry Goldsmith, General Partner at Updata Partners. “We anticipate that Foresee's robust, on-demand business model will continue to generate loyalty among their fast-growing client base, driving significant growth.”

“ForeSee Results’ major expansion is one more success story coming out of the Ann Arbor region and Michigan. They support and are joined by over 40 innovative, technology-based companies which have relocated, expanded and started in our area within the last five years,” said Michael A. Finney, CEO, Ann Arbor SPARK. “The Ann Arbor region has created an economic climate that is establishing Michigan as the location for tech savvy companies.”

About ForeSee Results

ForeSee Results is the market leader in online customer satisfaction management and converting satisfaction data into user-driven web development strategies. Using the methodology of the University of Michigan’s American Customer Satisfaction Index (ACSI), ForeSee Results scientifically quantifies the elements that drive online customer satisfaction and predicts future behaviors such as purchase, return site visits or referrals.

ForeSee Results currently conducts more than 450 measures for clients including 3M, Best Buy, Borders, Cingular, Comcast, DuPont, Forbes.com, Home Depot, Intuit, the IRS, Kellogg’s, NASA, the NHL, Sprint, TIAA-CREF, Weather.com, and Whirlpool. ForeSee Results, a privately held company, is located in Ann Arbor, Michigan and on the web at www.ForeSeeResults.com.

About Updata Partners

Based in Reston, Virginia and Edison, New Jersey, Updata Partners is a leading venture capital firm that invests in early and growth stage information technology companies with innovative intellectual property enabling market-leading products and services. Led by an investment team averaging more than 20 years of operational and private equity experience in the technology industry, we seek investments where the combination of our financial backing and operating expertise will accelerate growth. With over $400 million under management, the firm also selectively provides recapitalization and management buyout financing. Updata Partners is an affiliate of Updata Advisors, Inc., a leading investment bank specializing in mergers and acquisitions for the IT industry. For more information, visit www.updatapartners.com.

About Investor Growth Capital

Investor Growth Capital is a venture capital and private equity advisory group wholly owned by Investor AB, a large industrial holding company and leading shareholder in several multinational companies, including AstraZeneca, Ericsson, and Electrolux. For almost a century, Investor AB's business concept has been to invest in companies with solid potential for value creation and develop the holdings so they remain or become best-in-class. Investor Growth Capital shares this investment philosophy and leverages Investor AB's extensive global network of companies and senior managers. Investor Growth Capital focuses on investments in growth companies in the IT and healthcare sectors in Europe, North America and Asia.