[June 11, 2013]

Lavante Inc. Announces New CEO, Sam Klepper, Former Executive with Intuit, Microsoft, and eMeter

Lavante, the leading provider of cloud-based recovery auditing and supplier information management (SIM) software for Fortune 1000 companies, announced today that Sam Klepper has joined as CEO. Klepper has an exceptional track record of creating and commercializing game-changing software products that drive growth and customer success at tech companies including Intuit (News - Alert), Microsoft and eMeter.

"Lavante has an enormous market opportunity," said Sam Klepper. "The founders and management team have redefined the supplier information management space and in the process created a Who's Who list of corporate customers. Lavante SIM is the first product to target the finance team and focus on the supplier organization rather than the transaction. The result is a new way to easily onboard, maintain and communicate with vast supplier communities, driving down operational costs, enhancing compliance and recovering credits."

"Sam's arrival signals that Lavante is ready to move to the next level in the supplier information management space," said Andreas Weiskam, Managing Director of SAP (News - Alert) Ventures, an investor since 2010. "Lavante has the product, momentum and leadership to capture significant share in the market."

With Klepper's arrival, founder and former CEO Joe Flynn, a veteran of the supply chain and finance domains, becomes Chief Strategy Officer and will work closely with customers and partners. "Sam is the perfect catalyst to accelerate the momentum we are already enjoying at Lavante," Flynn said. "We look forward to a bright future under his leadership."

Prior to joining Lavante, Klepper was GM and then interim CEO at smart grid software leader, eMeter, and General Manager at Microsoft (News - Alert) for a $500m division of MSN. He also was an early employee of Intuit and co-invented the QuickBooks product line. Klepper has a BA from Harvard University and an MBA from Harvard Business School.

Klepper joins Lavante during an active quarter that has yielded new customers across multiple industry segments as well as new product functionality across both Recovery and SIM product lines. The company delivered advanced reporting capabilities earlier this month to give customers additional insights into their supplier population.

About Lavante

Lavante is the leader in on-demand supplier management solutions, including recovery audit and supplier information management applications. Built with advanced, patented-pending technology, Lavante delivers to the financial arena a new standard in efficient technology-driven solutions that allow companies to quickly drive dollars to the bottom line, improve supplier communications, and assure high supplier data quality. Lavante solutions are deployed across Fortune 1000 enterprises including the hospitality, retail, entertainment, manufacturing, and medical industries. Headquartered in San Jose, California, Lavante is privately held and was founded in 2001. For more information please visit www.lavante.com.

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