VENTURA, Calif.--March 9, 2004--DolphinSearch, Inc, a leading provider of comprehensive electronic discovery solutions, today announced the completion of a $10.0 million round of financing with Insight Venture Partners, a venture capital firm based in New York, NY, specializing in software investments. DolphinSearch will use the capital to fuel rapid expansion of their ASP infrastructure to meet the growing demand for hosted electronic discovery solutions and develop new products that address the needs of large enterprise customers. Current customers include numerous fortune 100 enterprises and over a dozen of the most prestigious national law firms.   "Our business for electronic discovery solutions has quickly become a must-have solution for both law firms and corporate customers involved in the costly litigation process," said Andrew Kraftsow, CEO of DolphinSearch. "We have achieved great success in attracting high-profile, industry-leading customers. The investment from Insight represents a significant validation of our business, leadership and vision in the market. Insight's investment and their powerful network will enable us to broaden our strategy and gain additional marquee customers."   DolphinSearch has patented technology in two areas, which are used when text-based materials need to be stored, retrieved, recognized, compared and classified. The Company's normalization and extraction toolset allows for the restoration and aggregation of unstructured data stored in different formats into a common searchable medium. Once in a structured data repository, DolphinSearch's concept search capability can find associations between words and concepts based on the underlying linguistic intent of a search query. This allows law firm and enterprise customers alike to uncover non-obvious yet critical documents during the discovery process.   "The electronic discovery market has seen explosive growth and DolphinSearch has significantly outperformed the market," said Jerry Murdock, Founder and Managing Director at Insight Venture Partners. "Insight has aggressively pursued this market and, after a thorough investigation of electronic discovery vendors, we selected DolphinSearch. We are highly impressed by the precision and quality of their data processing, nimble production execution and unparalleled search technology."   The influx of growth capital comes on the heels of record performance. In 2003, DolphinSearch more than tripled revenues and profits, doubling its delivery capacity and expanding its senior management team and its base of leading customers. The Company also released new industry-leading tools that enable access to, and normalization, management and manipulation of, the massive amounts of complex electronic data required in the discovery process.   About DolphinSearch, Inc.    DolphinSearch, Inc is a leading provider of electronic data discovery solutions, a segment of the litigation support market. The Company's data processing platform and next-generation concept search technology improves the efficiency and efficacy of the discovery process allowing law firms and their clients to extract, manage and search electronic documents during litigation. Headquartered in Ventura, California, the Company has been operating since 2000, and currently has just over 50 employees. For more information about DolphinSearch, Inc., visit the web site.   About Insight  With over $1.0 billion under management, Insight Venture Partners is a leading private equity firm that invests exclusively in software and related information technology business. Insight maintains positions in over 40 North American and European portfolio companies and has built a strong global reputation for being a value-added partner to senior management of high growth companies. Insight is dedicated to helping its portfolio companies achieve their strategic, operational and financial goals by building value for their customers. For more information about Insight Venture Partners, visit the web site.  

3/10/2004