OASIS MEMBER NEWS: Sequoia Software Raises $33 Million in Third-Round Financing

[Laura Walker <laurawalker@earthlink.net>]

FOR IMMEDIATE RELEASE


Contacts:

David Schreiber
Sequoia Software Corp.
410-715-0206
dschreiber@sequoiasoftware.com

Kelby Troutman
Schwartz Communications, Inc.
781-684-0770
kelbyt@schwartz-pr.com


Sequoia Software Raises $33 Million in Third-Round Financing Led by The
Baker Communications Fund

Internet Visionary Andrew "Flip" Filipowski, and Technology Venture
Investors Lawrence Bettino and Jonathan Grabel Join Board of Directors

COLUMBIA, Md.-December 7, 1999-Sequoia Software Corporation, the leading
provider of interactive enterprise portals powered by XML, today announced 
that it has secured $33 million in third-round financing. The Baker
Communications Fund led the round, in which Sequoia received investments
from divine interVentures, inc. and existing investors Anthem Capital, Mid 
Atlantic Venture Funds, and Flanders Language Valley Fund. Individual
investors to the third round included Andrew "Flip" Filipowski, CEO,
chairman and founder of divine interVentures, and Rick Faint, Sequoia's
CEO. Filipowski has joined Sequoia's board of directors, as will Lawrence
Bettino and Jonathan Grabel, both with the Baker Communications Fund.
Sequoia will use the $33 million to bolster its national and international 
sales and marketing efforts and further the development of its XML-based
application for deploying interactive enterprise portals, Sequoia XML
Portal Server(TM).

"We view this latest round of financing as validation of Sequoia's focus 
on
XML-powered interactive portal solutions, and as a gateway to numerous
business development opportunities," said Rick Faint, CEO of Sequoia
Software. "As we position Sequoia for continued growth, we are very 
pleased
to gain strategic institutional financing from the Baker Communications
Fund and divine interVentures, as well as additional investments from
Anthem Capital, Mid Atlantic Venture Partners and Flanders Language Valley 
Fund.

Faint added, "Beyond substantial institutional investments secured this
round, Sequoia gained one notable individual investor and three key board
members. Flip Filipowski is a remarkably successful entrepreneur and
high-tech visionary.  His experience growing PLATINUM technology from
start-up into a global powerhouse will be invaluable as we move forward.
Similarly, with Lawrence Bettino and Jonathan Grabel, Sequoia gains the
strategic insights of two savvy technology investors, each with a
tremendously successful track record."

"Sequoia has been especially adept at leveraging XML to meet the true
business needs of its target Global 2000 customers," said Jonathan Grabel
with the Baker Communications Fund. "Sequoia's technology leadership,
innovation within the enterprise portal market space, and strong 
management
team represented a solid investment opportunity-one we are very pleased to 
be part of."

"I started divine interVentures to help build market leaders for the new
economy," said Andrew "Flip" Filipowski. "Sequoia Software is poised to
dominate the exploding market for XML-powered interactive portals, a
critical requirement for Internet commerce and a product category Sequoia
created. I am very excited about joining Rick and the rest of the Sequoia
team to help make that happen."

About The Baker Communications Fund
The Baker Communications Fund is a private equity fund investing
exclusively in communications and network-based applications companies. It 
targets growing companies that provide communications software, equipment, 
services and applications. Investors in the fund include prominent
insurance companies, university endowments and foundations, public and
private pension funds, financial institutions, and families.

About divine interVentures, inc.
Chicago-based divine interVentures, inc. is an Internet holding company
engaged in business-to-business e-commerce through a network of partner
companies. Known as the Internet Zaibatsu, divine's family of
business-to-business companies collaborate to create success through a
tightly linked network. divine acquires significant interests in, operates 
and provides services to its partner companies. divine's services include
strategic guidance, incubation, marketing, web design and development,
sales, IT hosting, legal, and administration. These services provide
partner companies with an operating framework so they can focus on their
core business, shorten time to market, and build Internet commerce
leadership. More information is available at www.divineinterventures.com.

About Sequoia Software
Sequoia Software Corporation, headquartered in Columbia, Maryland, is the
leading provider of Interactive Enterprise Portal solutions. Sequoia's XML 
Portal ServerTM integrates structured and unstructured data from disparate 
sources, creating a single point of access to relevant information, as 
well
as a single point of interaction with that information. Users no longer
have to spend valuable time learning and navigating multiple systems to
access and act on the exact information they need to make quick, effective 
decisions. For more information, please visit Sequoia on the Web,
www.sequoiasoftware.com or call (888) 820-7917.

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