Recordant Readies for Growth with $3 Million Capital Infusion; Kodiak Venture Partners Witnesses Technology Solution as Best-In-Class

ATLANTA--Feb. 1, 20060, 2006--Recordant, a provider of solutions that deliver the first accurate picture of what happens on the sales floor of retail and service-based environments, such as banks, hotels and automotive dealerships, has secured $3 million in Series A funding from Waltham, Mass-based Kodiak Venture Partners. The financing is being used to ramp up the company's scalability, launch its marketing activities and expand its management team.

"We believe there is a significant opportunity for Recordant to provide the increasingly competitive retail and service organization marketplace with a powerful technology solution that will rapidly become a must-have business intelligence tool," explains John Abraham, general partner at Kodiak Venture Partners. "The broad appeal of this approach to improving the sales cycle, combined with the Recordant executive team's deep experience in the customer interaction space, made this investment opportunity a perfect fit for Kodiak."

Recordant enables companies, who engage with customers on their premises, to capture their interactions via an unobtrusive audio recording device and translate them into actionable intelligence to drive sales, service, customer satisfaction and operating efficiencies. These interactions are sent to Recordant's data center for processing and analysis. Recordant's customers access the actual audio from the conversations as well as customized reports over the Internet that allow them to improve overall customer service, standards compliance, cross selling and promotional messaging.

Management Team

During the last 24 months, Recordant has assembled a dynamic team of technology, retail and business expertise to launch one of 2006's most promising companies. Jim Judson, who serves on the board, co-founded Witness Systems, Inc (WITS-Nasdaq), the premier supplier of quality monitoring; recording, and e-learning solutions for call centers. Recognized by Call Center Magazine as an Industry Pioneer, during his tenure as President of Witness Systems from 1995 to 1998, Jim led the company to a 300 percent growth in revenues and increased personnel five times over.

John May, Recordant's founder and CTO, is the driving visionary force behind next generation applications. He draws upon his world-class technology pedigree, specifically in software engineering management. He served as CTO of Witness Systems taking the company from one product to four major product lines, averaging two releases per quarter. He has served in software engineering management roles with BellSouth.net, Apple Computer, Intergraph and Cray Research.

Jeffrey A. Neppl, who joined this fall as President and Chief Executive Officer, has an extensive Fortune 100 retail experience base with senior level positions within P&G's Customer Business Development Organization, Senior Sales Vice President at the Campbell Soup Company, and as Managing Director of Field Sales and Marketing at The Coca-Cola Company. Neppl is no stranger to emerging brands, having served as Executive Vice President of Purchasepro.com, one of the five most successful IPOs of 1999. Most recently Mr. Neppl served as the Chief Customer Officer of The Evercare Company which manufactures household goods for the largest retailers in the world.

"Aberdeen Group's latest Retail Benchmark Report tells us compound growth rates of e-commerce sales remain consistent at 25-35 percent, which we interpret as little room for error on the retail sales floor," explains Jeff Neppl, President and CEO. "In fact, for every consumer who voices a complaint in-store, they are likely to share that poor retail frustration with 10 other target customers according to Swallow Information Systems. Companies spend an exorbitant amount of money to build brand and drive store traffic, but without an accurate means of capturing the interaction between employees and consumers on their retail floors, they are missing an opportunity to move interactions to transactions. We believe we have a 'best-in-class' solution for a marketplace facing competitive pressures attributed to overcrowded retail markets, multi-channel retailers, e-retailers and shopping comparison sites."

About Recordant

Recordant delivers a means to a better retail customer experience through proprietary Frontline Customer Interaction Solutions(TM). These solutions are designed for high frequency, face-to-face customer interactions in environments such as retail stores, automotive dealers, hotels and banks. It offers companies the first accurate means of evaluating face-to-face sales interactions to improve significantly overall customer service, standards compliance, cross-selling capabilities and promotional messaging. Recordant works with companies who operate 100 plus locations, whose employees require specialized knowledge, training and orientation and see higher-end interpersonal skills as a market differentiator. Based in Alpharetta, Georgia, Recordant is a private company.

About Kodiak Venture Partners

Kodiak Venture Partners is a Waltham, Mass.-based venture capital firm focused on seed and early stage investments in emerging communications/IT, semiconductor and software companies. With a focus in the eastern regions of the U.S. and Canada, Kodiak Venture Partners builds relationships with entrepreneurs seeking accelerated market success. Kodiak's investment partners are successful high-technology business entrepreneurs who take a high-impact, hands-on approach to forming, operating, building and funding market leaders. For more information, visit www.kodiakvp.com.