MMVF Twitter
Financing Solutions that Fit
TORONTO -- TrueSpectra, the leader in network imaging for e-commerce, has completed a $5.4 million round of financing with new and current investors. New investors include MM Venture Partners, backed by US partner GATX Capital Corporation of San Francisco, and CedarPoint Investments. Current investors include Royal Bank Capital Corporation (RBCC), Triax Growth Fund managed by Altamira, Business Development Bank of Canada, Lawrence & Company, CastleHill Ventures, and Dawlish Capital. The funds will be used to drive sales and marketing efforts in the hypergrowth e-commerce world.

MM Venture Partners was the largest investor in this current round making a $3.0MM investment by way of venture debt with warrants. "We are excited to be an investor in TrueSpectra. Its first to market technology offers e-commerce companies a robust and elegant way of handling images and delivering them to their e-customers. Its rapidly growing list of customers and strategic relationships with companies such as US Web/CKS, Razorfish, Sears Canada, Informix, Oracle, and Sun Microsystems Inc. prove it has the wherewithal to lead the US market in this segment of the red hot internet infrastructure space." said Ron Patterson, partner of MM Venture Partners.

TrueSpectra is addressing the missing link for e-commerce to succeed - that people do not buy sight unseen. Today, on-line retailers are limited by the high cost of the manual process of creating web images and as such only display a small percentage of their entire product offering with limited detail for customers to make purchasing decisions. In addition, retailers cannot visually mix and match products to provide better-merchandised product ideas. TrueSpectra's Iris Image Servers automate today's manual process of preparing images for the Web, resulting in increased retail sales, lower costs, improved performance and reduced time to market for e-retailers.

"MM Venture Partner's $3.0MM investment of venture debt with warrants suited the needs of TrueSpectra extremely well. It enabled us meet our funding benchmarks while minimizing dilution. MM Venture Partners has already been able to add value post financing by introducing us to certain key strategic relations for our upcoming round of financing" said Steve Parker, vice president corporate development & finance.

About TrueSpectra
TrueSpectra Inc., the leader in "networked imaging" for e-commerce, has created the industry's first integrated imaging platform. TrueSpectra's family of image servers includes Iris Accelerate as "the best way to publish images to the Web" and Iris Transactive as "the only way to personalize high quality images for the Web." TrueSpectra's early channel adopters include USWeb/CKS, Razorfish, Organic On-Line, Scient and WebFeat. Their retail customers using Iris image servers include Sears Canada,, NextMonet and La Senza. TrueSpectra has also partnered with industry leaders including Sun Microsystems Inc. (NASDAQ: SUNW), Informix (NASDAQ: IFMX) and Oracle Corporation (NASDAQ: ORCL) to integrate TrueSpectra's imaging technology into their solutions for e-commerce and data management. Additional information about TrueSpectra's products and services can be found at

The TrueSpectra logo and name are trademarks or registered trademarks of TrueSpectra Inc. All other product names mentioned herein are the trademarks or registered trademarks of their respective holders.

For more information:

Steve Parker
TrueSpectra Inc.
(416) 224-0076 ext. 8230

Ron Patterson
MM Venture Partners

MMV :: 370 King Street West, Suite 442 Toronto ON M5V 1J9 Canada