RatePoint Secures $6.5 Million in Series A Funding

Capital to accelerate growth as company introduces its RatePoint Consumer Approval Program with both direct and channel sales programs

WESTWOOD, Mass.--(BUSINESS WIRE)--RatePoint Inc., today announced it has closed $6.5 million in series A funding led by Prism VentureWorks and .406 Ventures. The additional capital will be used to support product development and spearhead sales and marketing initiatives for the RatePoint Consumer Approval Program, the first consumer-driven program that provides businesses with an affordable, interactive quality-assurance certification and customer feedback platform.

“Their success with GeoTrust will enable them to leverage an enormous network of channel partners and merchants to introduce them to the power and potential of the RatePoint Consumer Approval Program.”

See related press release: “RatePoint Takes Aim at Better Business Bureau With New Consumer-Generated Quality Assurance Program.”

“The RatePoint Consumer Approval Program is a powerful vehicle for consumers to easily, quickly and confidently express their tastes and opinions,” said Jim Counihan, partner with Prism VentureWorks. “The potential to extend RatePoint’s communication platform into new markets is huge, as businesses of all kinds look for new and cost-effective ways to better understand and interact with consumers.”

RatePoint Inc. was co-founded by CEO Neal Creighton, EVP of Business Development Chris Bailey, CTO Mike Rowan and VP of R&D Kefeng Chen. Prior to founding RatePoint, all four executives co-founded and held key positions at GeoTrust, the leading provider of intelligent infrastructure services for Internet and telecommunications networks, which was acquired by Verisign for $125 million in September 2006.

“These are seasoned entrepreneurs with a track record of bringing products to market that have direct consumer and business impact,” said Larry Begley, Managing Director of .406 Ventures. “Their success with GeoTrust will enable them to leverage an enormous network of channel partners and merchants to introduce them to the power and potential of the RatePoint Consumer Approval Program.”

“The same GeoTrust executive team that transformed e-commerce for hundreds of thousands of Internet businesses by bringing them greater security, is set to change the customer relationship dynamics of e-commerce with the RatePoint Consumer Approval Program,” said Neal Creighton, CEO of RatePoint, Inc. “By replicating the successful business strategy of GeoTrust in an even larger market, RatePoint will distribute its Consumer Approval Program through established channels in order to give consumers and businesses the insight, access and control they’ve been waiting for.”

About Prism VentureWorks

Founded in 1996, Prism VentureWorks is a venture capital firm built by experienced entrepreneurs in technology and life sciences. With approximately $1.25 billion in capital under management across five funds, Prism’s primary goal is to deliver superior value to its investors. Its partners have served as founders, CEOs and senior executives of numerous venture-backed companies. By leveraging its network of seasoned entrepreneurs, skilled executives and long-time industry contacts, Prism identifies and works closely with companies with the potential to be market leaders. For more information, visit www.prismventure.com.

About .406 Ventures

406 Ventures (“.406”) is a venture capital firm focused on investing in market-innovative growth technology and services companies being built by the finest entrepreneurs. .406 focuses primarily on early stage, Northeast-based IT and services companies in sectors where the partners have unique domain expertise, a successful track record, and established networks - IT Security and IT Infrastructure; Technology-enabled Business Services; and Next Generation Software. More information can be found at www.406ventures.com.

About RatePoint

Founded in 2006, RatePoint, Inc. offers a powerful, quality-assurance certification and customer feedback platform for today’s growing businesses. Leveraging the latest in Web 2.0 trends, web content authentication and consumer ratings systems, RatePoint, Inc. is revolutionizing the way businesses and consumers define, identify and monitor quality. RatePoint, Inc. was founded by the founders of GeoTrust, and is venture backed by Prism VentureWorks and .406 Ventures. For more information about RatePoint, Inc., please visit www.ratepoint.com.