SciQuest Named Growth Company of the Year by Council for Entrepreneurial Development

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CARY, N.C., July 2, 2007 – SciQuest, Inc., a leading provider of on-demand supplier management and procurement automation solutions, has been named the 2007 Growth Company of the Year by the Council for Entrepreneurial Development (CED). A sold-out crowd attended the 21st Annual Entrepreneurial Excellence Awards ceremony held in Durham, N.C., where SciQuest President and CEO Stephen Wiehe accepted the award on behalf of the company.

“We are honored to be recognized as one of this year’s top entrepreneurial success stories,” stated Wiehe. “This award is a representation of the hard-working, customer-focused, entrepreneurial spirit of the entire SciQuest team as well as to our commitment of providing employees with a work environment that fosters excellence. This award is also a testament to the confidence our customers have in SciQuest. Their success is our success, and we thank them for entrusting us as we achieve growth and efficiencies together.”

The Growth Company of the Year Award is presented to an entrepreneur of a high growth company who has successfully navigated the early stage waters and had a large impact on maximizing long-term value for the company. Wiehe has played a major role in the company’s success through the development of SciQuest’s strategic focus. During the past year alone, SciQuest has nearly doubled its client base and revenue as well as its staff, proof of the company’s growing leadership position in the higher education and life sciences markets.

"SciQuest stood out as an all-star entrepreneurial company of the past year for its strong strategic focus on research-intensive organizations and staying true to the company’s vision of helping organizations gain control of their spend to achieve rapid, organization-wide cost savings," said CED President Monica Doss. “This year’s award winners exemplify the true essence of entrepreneurship, and SciQuest has shown it is committed to providing each employee with an opportunity to share their voice and grow in their profession.”

About CED
The Council for Entrepreneurial Development (CED) is a private, non-profit organization formed in 1984 to identify, enable and promote high growth, high impact entrepreneurial companies and to accelerate the entrepreneurial culture of the Research Triangle and North Carolina. Headquartered in the Research Triangle with a divisional office in Wilmington, CED is the largest and oldest entrepreneurial support organization in the nation with more than 4,000 members representing over 1,100 entrepreneurial companies, financiers and professional firms. CED provides education, mentoring and capital formation resources to new and existing high-growth entrepreneurs through annual conferences, seminars, workshops and programs on entrepreneurial management and finance. www.cednc.org

About SciQuest
SciQuest provides on-demand supplier enablement and procurement automation solutions that reduce operating costs, drive end-user adoption, bring more spend under management and increase visibility into organization-wide spending. Through SciQuest solutions, organizations gain immediate cost savings and rapid ROI.

Organizations can quickly enable a critical mass of suppliers through the SciQuest Supplier Network (SQSN) and leverage SciQuest Managed Services to fully manage catalog data and order delivery on an ongoing basis, significantly reducing the need for in-house IT and support resources. With an integrated supplier base, organizations can maximize on-contract spending and gain real-time visibility and reporting capabilities throughout the entire order process. In addition to a source-to-settle suite of e-procurement applications, SciQuest also offers supplier and order management modules that seamlessly integrate with existing ERP and enterprise financial systems, driving greater return from existing investments.

For more information about SciQuest, please visit www.sciquest.com, or call 919.659.2100.

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Media Relations:
SciQuest
Adrienne Turner
919.659.2165