SciQuest Announces Five Grant Recipients Under Company’s Charitable Fund

Donations focus on at-risk and disadvantaged children and families served by national and community-based organizations

CARY, N.C.--()--SciQuest, Inc., (NASDAQ: SQI) a leading provider of on-demand source-to-settle solutions, today announced the five grant recipients under the SciQuest Charitable Fund. The Charitable Fund was established last year as a donor-advised fund created by SciQuest through the Triangle Community Foundation in North Carolina and serves to support causes that are important to SciQuest employees and the company. This round of donations focuses on providing at-risk and disadvantaged children and families with opportunities for positive learning, improved physical activity and quality health programs.

The SciQuest Charitable Fund typically makes two donations a year, focusing on both national and community-based 501c3 organizations. The five recipients include:

  • Playworks is a national non-profit organization that supports learning by providing safe, healthy and inclusive play and physical activity to low-income schools at recess and throughout the entire school day. The organization currently operates its direct service program in more than 300 schools in 23 U.S. cities, and serves more than 130,000 elementary school students every day.
  • Kids Smiles provides children in under-served communities in Philadelphia with preventive and restorative dental care and innovative health education programs focusing on the prevention of dental disease and the development of positive personal behaviors.
  • Triangle Family Services (TFS) has served as a safety net for the community and as a first-responder to families in crisis in the Triangle. TFS accomplishes its mission of “Building a Stronger Community by Strengthening the Family,” through its commitment to empower families physically, mentally and fiscally.
  • Read and Feed’s mission is to give children an appetite for reading. The “Feed the Reader Road Show” helps disadvantaged elementary school children by strengthening literacy skills and providing encouragement in a nurturing environment. They serve their neighbors by bringing books, tutors and food to parents and children in need.
  • Boys and Girls Club of Wake County’s mission is to enable all young people, especially those who need us most, to reach their full potential as productive, caring, responsible citizens.

“Supporting organizations that serve our nation’s most at-risk and vulnerable individuals is just one way that SciQuest and our employees can make a positive impact on the lives of others,” said Stephen Wiehe, president and CEO, SciQuest, Inc. “The organizations we have selected for this round of donations are doing outstanding work in providing positive opportunities for improved learning and health, and we are pleased to be able to assist in those efforts.”

About Triangle Community Foundation:

Triangle Community Foundation is a nonprofit organization that manages $145 million in funds established by individuals, businesses and families. From these funds, we give grants to nonprofit organizations and administer a variety of programs for the community's benefit. The Foundation currently manages over 755 funds, ranging in size from $10,000 to $10 million, primarily for the benefit of Wake, Durham, Orange and Chatham counties. During the 2011-12 fiscal year, the Foundation granted more than $13 million to nonprofits, schools and community efforts. On average, we distribute more than 10% of our assets each year, raising the total value of grants made since the Foundation’s inception in 1983 to over $186 million.

About SciQuest

SciQuest’s (NASDAQ: SQI) easy-to-use solutions help contract management, procurement, and accounts payable professionals make daily operations efficient through smart automation, and turn the focus on more strategic decisions that impact the bottom line. With unmatched visibility into spending, combined with the Power of Q — the Company’s unique combination of products and support — SciQuest provides organizations with a strategic approach to procurement, improving bottom-line results.

To join the conversation, please visit our blog, The Open Kitchen—http://www.sciquest.com/blog or follow us on Twitter @SciQuest.

Cautionary Note Regarding Forward-Looking Statements

Any statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors” section of our Registration Statement on Form S-1 and other required reports, as filed with the SEC, which are available free of charge on the SEC’s website at http://www.sec.gov or on our website at www.sciquest.com. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These forward-looking statements speak only as of the date hereof, and we undertake no obligation to update, amend or clarify any forward-looking statement for any reason.

Contacts

SciQuest Media contacts:
Michelle Perkins, 919-659-2228
mperkins@sciquest.com
or
Schwartz MSL for SciQuest
Keith Giannini, 1-781-684-0770
sciquest@schwartzMSL.com
or
SciQuest Investor contact:
Jamie Andelman, 919-659-2322
jandelman@sciquest.com

Release Summary

SciQuest today announced the five grant recipients under the SciQuest Charitable Fund.

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Contacts

SciQuest Media contacts:
Michelle Perkins, 919-659-2228
mperkins@sciquest.com
or
Schwartz MSL for SciQuest
Keith Giannini, 1-781-684-0770
sciquest@schwartzMSL.com
or
SciQuest Investor contact:
Jamie Andelman, 919-659-2322
jandelman@sciquest.com