Leading independent collaboration on-demand company CTSpace raises $5.3 million in funding round

SAN FRANCISCO, December 21, 2006 - CTSpace Inc., has been formed through the combination of two industry leaders, BuildOnline and Citadon, to provide on-demand document solutions for business process management and for collaboration. The combined company is the world's largest independent provider of such services and will extend this leadership position using additional financial resources derived from a $5.3 million financing round led by Insight Venture Partners and GRP Partners. CTSpace will expand key areas of its business including sales, marketing and international operations.

CTSpace "is the only true global on-demand company" according to its CEO, Howard Koenig. "The use of a Software as a Services model is a perfect solution for collaboration across corporate firewalls, which is a requirement of today's virtual enterprises with flexible and multi-sourced workforces. We see an opportunity for rapid growth on a global scale," Koenig adds. CTSpace offers a Web-based collaboration, business process management and document management solution to facilitate communications across enterprises, programs, companies and countries without the requisite capital investment of package software.

Jeff Horing, Managing Partner of Insight Venture Partners, one of the leaders in SaaS investments commented, "We look forward to the next stage of accelerated growth for the combined companies. We are enthusiastic about their space, company and their growth prospects. Steven Dietz, a Partner at GRP, added "The customer base, management team, and solutions provided by CTSpace are world class. The business need for secure collaboration creates a huge opportunity which can only be met by a company with a global perspective. CTSpace can provide a unique, worldwide solution and we are excited about the plans for deploying our capital to grow the business."

In addition to ADP veteran, Howard Koenig, CTSpace is led by a seasoned management team with a combined 50+ years of experience in the area of Software as a Service:

• Stuart Lander -President of Global Field Operations - A founder Of BuildOnline
• Helen Roberts - President of Technology & Services - Accomplished SaaS Executive with over 20 years of service at ADP
• Gary Greenberger - EVP Americas - An early executive of Contructware and participant in its recent sale to Autodesk
• David Lapter - Chief Financial Officer - Former GRP Partners Associate and Wharton School graduate
• Franck Meudec - Managing Director, Southern EMEA - Former Aprimo and Cyco executive
• Gert-Jan De Klieviet - Managing Director, Northern EMEA - Former Comparex and Bull executive

About Insight Venture Partners
Insight Venture Partners has raised over $2 billion in capital to invest in leading software and Internet services companies. Headquartered in New York, Insight takes a global approach to investing, providing hands-on execution and strategic advice to ensure portfolio companies benefit from Insight's experience. Insight was founded in 1995 and invests in and partners with growth-stage software and Internet companies, with proven track records, focused on growing and scaling their businesses. For additional information, visit the firm's web site at: http://www.insightpartners.com/.

About GRP Partners
GRP Partners is a venture capital and growth equity firm focused on financing and helping to build companies in business & consumer services, retail & related technology, and financial services & related technology. GRP Partners finances early-stage and late-stage companies that have developed solutions meeting pressing consumer and business needs. Over the course of nearly 20 years, the GRP Partners team has been involved with many companies that have become household names today, such as Costco, Starbucks, PETsMART, Office Depot, Overture Services (now part of Yahoo!), TicketmasterOnline-CitySearch, P.F. Chang's and many others.  GRP Partners manages approximately $650 million on behalf of more than 150 limited partners in North America and Europe.  For additional information, visit the firm's web site at: http://www.grpvc.com/.