SOURCE: EzRez Software, Inc.

August 02, 2007 09:00 ET

EzRez Software Raises $15 Million in Funding

EzRez Delivers Branded, Next Generation, Online Travel Systems

SAN FRANCISCO, CA--(Marketwire - August 2, 2007) - EzRez Software, Inc., a B2B provider of next generation online travel solutions, today announced it has secured $15 million in a second round of financing. Canaan Partners led the round of funding with Azure Capital Partners and existing investors also participating. EzRez will use the funds to drive product development and international growth to meet the increasing demand for robust, online travel systems that can be branded and customized for business.

"We are changing the way online travel can be offered and consumed, and this round of funding will help fuel our innovation and growth even further," said Tina Fitch, President and CEO of EzRez. "Our Web-based solution allows any company to customize and create a branded online travel site for their business, event or target audience. Our SaaS model, unique technology infrastructure and wide partner network allow us to provide a world class, online travel system that is customizable and scalable in a way no other online travel site has been before."

EzRez allows any business to easily package and sell air, hotel, rental car, vacation activities and other travel components to their customers through their own branded Web sites. Founded in 2003, EzRez works with some of the biggest travel brands, including Starwood Hotels and Jet Blue, to power online travel booking systems that offer tailored travel products based on the audience, event or business need. EzRez's next generation travel infrastructure is breaking down the barriers of traditional travel sites by allowing companies to launch customized and branded travel sites rapidly. By understanding the unique challenges of selling travel online, EzRez enables companies to merchandise travel on a more granular basis than ever before, lowering costs, improving efficiency and increasing customer satisfaction.

"EzRez is disrupting the online travel market through its innovative Web-based solution," said Canaan General Partner John Balen. "At Canaan, we invest in companies offering innovative, market-changing solutions and EzRez is a great example of this. The online travel industry continues to expand and EzRez is poised for significant growth with a solution that allows any company to offer world-class, online travel products that fit their unique business needs."

In conjunction with the funding, Mr. Balen and Azure Capital Partners' founder Cameron Lester will join the EzRez Board of Directors. For more information, visit www.ezrez.com.

About Canaan Partners

Canaan Partners invests in visionary entrepreneurs and provides them the networks, insights and operational guidance required to build high-performance technology and healthcare companies. For 20 years, they have taken an active and committed role in the companies in which they invest, and have completed more than 65 mergers and acquisitions and 51 IPOs. With $2.4 billion under management and a worldwide footprint, the firm's technology team is committed to catalyzing the growth of innovative companies in the digital media, communications & mobility, enterprise and clean tech industries. Among its successes are DoubleClick, the leading online advertising solution, Match.com, the most popular online dating site in the world, and Acme Packet, one of the top ten performing IPOs of 2006. Other Canaan technology investments include SuccessFactors, The Active Network, Blurb, Dexterra, ID Analytics and GroundWorks. Canaan has offices in California, Connecticut, India and Israel. For more information visit: www.canaan.com

About Azure Capital Partners

Azure Capital Partners is a leading venture capital firm based in San Francisco with over $500 million under management. Azure focus on communications, software and other IT technologies and has a philosophy of investing is a platform approach of supporting and accelerating early stage companies throughout their lifecycle of growth. The Azure team brings to bear a unique experience and knowledge base that bridges the gap between the operating requirements of a start-up and the strategic realities facing companies that aspire to become large platform providers. Our involvement with companies is always with the objective of helping our entrepreneurs succeed and accelerate their business momentum. We work to build a world-class management team, help set strategic direction, facilitate relationships with key customers, partners and suppliers, and leverage our large network of industry participants to provide our entrepreneurs with new important relationships. www.azurecap.com

About EzRez Software Inc.

Founded in 2003, EzRez Software Inc. is a software company that helps any business enhance its Web presence with intelligent and easy packaging and selling of air, hotel, rental car, vacation activities and other related travel components for customers to purchase online or through a travel agent. In addition to packaging and merchandising solutions, EzRez offers the needed inventory through direct access to its vast network of travel-related services and distributors, helping to broaden offerings and lower distribution costs while increasing efficiency. More information is found at www.ezrez.com.