Firstdocs raises $3.6 million from the Foundry Group, of Boulder Colorado

December 18, 2008, Westwood, MA - RAGE Frameworks, Inc., a business process automation leader, announced today that it has completed funding for Firstdocs, Inc, one of its portfolio companies. The deal, valued at $3.6 million, was finalized with the Foundry Group of Boulder, Colorado.

The funding will allow the company to continue to build out its solutions for legal process automation. The solutions, based on the patented RAGE technology platform, provide for on-demand contracts, enterprise legal optimization and legal process outsourcing services.

"This is an exciting development for our company as we continue to execute on our vision of applying our distinctive platform to industry verticals. In addition to its' rapid time-to-market capabilities, the platform provides for on-going sustainable process improvement. Firstdocs is bringing this capability to the legal marketplace", commented Dr. Venkat Srinivasan, RAGE Framework's CEO and founder. Added Dr. Srinivasan, "The Foundry Group is the perfect partner as they bring added domain and market expertise to the RAGE approach producing what we think will be the next generation legal offering."

Similar to Firstdocs, RAGE Frameworks has applied the platform and approach to the credit risk and investment analysis space through its CreditPointe division. Its solutions are used by leading investment companies in high volume mission critical environments. RAGE also provides services and solutions to the Wealth Management and Education industries. "'Business Process Automation Centers' are created for our clients through combining our technology, engineering expertise, and skilled analytical teams," commented Aashish Mehta, VP Operations for RAGE.

In conjunction with the investment, the Foundry Group's Jason Mendelson will be joining the board at Firstdocs. Mendelson said in a statement: "We are excited to join the FirstDocs team and look forward to assisting them in the next phase of their journey." Mendelson emphasized, "We believe there is a large market for on-demand business solutions directed at law firms and legal departments. Legal departments are finding themselves overly constrained with regulatory and corporate compliance tasks. These burdens have increased as a result of Sarbanes-Oxley and are likely to become heavier and more time intensive with the regulations almost certain to result from the current economic crisis."

About RAGE Frameworks, Inc.
RAGE Frameworks is a business incubator focused on capital efficient, process-aware businesses. An experienced team of industry veterans led by Dr. Venkat Srinivasan, RAGE applies its patented technology platform to its portfolio companies and directly to its clients through the concept of client specific "Business Process Automation Centers." Located in Westwood, MA the team at RAGE has been applying the RAGE approach to global companies for over 15 years. To learn more about RAGE, visit www.rageframeworks.com.

About Firstdocs, Inc.
Founded by a close community of experts in business law, business process automation, knowledge process outsourcing, document analysis technologies, and data security; Firstdocs delivers a spectrum of legal document automation and acceleration services that are designed specifically for busy legal departments and law firms. We bring together a deep understanding of how enterprises create, move, store, protect, retrieve, and derive information from their core legal documents. Firstdocs (www.firstdocs.com) is a venture of RAGE Frameworks, Inc.

The Foundry Group
Foundry Group is a venture capital firm focused on making investments in early-stage information technology, Internet and software startups. Our passion is working alongside entrepreneurs to give birth to new technologies and to build those technologies into industry-leading companies. We're centrally located in Boulder, CO, but we invest in companies across North America. Learn more at www.foundrygroup.com.