Unique Partnership Augments Venture Capital with Product Design

For Immediate Release

San Francisco, CA, April 3, 2006 – Adaptive Path Launches Strategic Partnership with Sierra Ventures to Cultivate Emerging Companies, Products.

Adaptive Path and Bay Area venture capital firm, Sierra Ventures, formally announced their exclusive strategic alliance today. The partnership, a central component of Adaptive Path's New Ventures program, will provide early-stage startups with a combined package of venture capital and the proven product design methodologies of Adaptive Path. In exchange for the packaged offerings, the partners receive an equity stake in the selected startup ventures. Sierra Ventures and Adaptive Path plan to announce their first collaboration in the second quarter of 2006.

"The partnership is totally unique, and it gives both firms a big strategic advantage," said Lane Becker, Director of New Ventures at Adaptive Path. "It's also a natural extension of what we're already doing, so it lets us take those proven methodologies and use them to expand on new trends and to help young companies innovate."

Adaptive Path is a recognized leader in the field of product design and user experience, and has aided a wide spectrum of companies, from the recently created to Fortune 100 corporations. Beyond the opportunity to provide early-stage companies with tools that can help them succeed, Adaptive Path hopes the New Ventures program will assure long-term, positive changes in the way companies approach product development.

"We think product design can be central to the success of consumer internet startups," noted Sierra Ventures' Mark Fernandes. "Bringing together Adaptive Path's product expertise with our early stage venture capital experience will be a win-win for the Sierra-backed, New Ventures program startups."

When deciding whether to collaborate with a start up - beyond the due diligence of the venture capital partner - Adaptive Path applies a set of criteria to understand the opportunity for the product, the value of the business, and the potential for Adaptive Path to add real value through product design. Projects begin with a short-term consulting engagement followed by a longer-term advisory period during which Adaptive Path helps to evolve the product. Additional, in-depth research and design support will be available to companies that need it.

"We designed this new offering after years of partnering with startup clients in our traditional consulting practice," said Becker. "Early-stage companies operate in an intense culture of constant development and iteration. Working with Adaptive Path's new ventures program can significantly reduce the time to launch a successful product into the market."

A select number of startups will be chosen each year. The specific length of the agreement will vary depending on a variety of factors.

About Adaptive Path

Founded in 2001, Adaptive Path is a leading user experience consulting, research, development, and training firm that has provided custom services to a range of clients, including Fortune 100 corporations, pure-Web startups, and established not-for-profit organizations. The company is headquartered in San Francisco. To learn more about Adaptive Path, visit the company web site at www.AdaptivePath.com.

About Sierra Ventures

Sierra Ventures, founded in 1982, is a privately held venture capital firm focused on investments across all areas of the information technology sector, from enterprise software to consumer Internet services. Sierra Ventures has managed eight venture capital partnerships and currently has more than $1 billion of capital under management. More information is available at www.SierraVentures.com.

Contacts

Pete Selfridge
Adaptive Path
Phone: 1-415-495-8270
selfridge@adaptivepath.com

Tami von Isakovics
MSR Communications
Phone: 415-447-6115, x16
tami@msrcommunications.com