SciQuest Named on JMP Securities' 'Hot 100' List

CARY, N.C., July 9, 2008 - SciQuest, Inc., the global leader empowering enterprises to realize the potential of strategic procurement, today announced that the company was named one of the 100 best privately-held software companies on JMP Securities' "Hot 100" list. The list highlights those companies JMP's research team expects to have the greatest impact on the application, business intelligence and infrastructure software sectors. JMP Securities is a full-service investment firm.

"JMP Securities has an incredible track record of success identifying those companies that have the greatest potential to exceed investors' expectations and achieve long-term growth," said Stephen Wiehe, president and CEO of SciQuest. "We're pleased to be included on the ‘Hot 100' list. This honor further validates SciQuest's commitment to provide exceptional service that puts the customer first in everything we do."

Recognition on JMP's "Hot 100" list follows a record-breaking year for SciQuest that saw the company achieve a 35 percent year-over-year increase in revenue, a 100 percent subscription renewal rate for its on-demand eprocurement and supplier enablement applications, and greater reliance on its solutions within the company's served vertical markets. In 2007, transaction volume on SciQuest's network increased by more than 500 percent. The company's customer base grew by 25 percent during the same period.

"The key to our dramatic growth and inclusion on this year's ‘Hot 100' list is that SciQuest empowers customers to dramatically reduce costs and run their operations more efficiently through a strategic approach to procurement," added Wiehe. "Our deep knowledge of the markets we serve enables us to help our customers transform procurement from a cost burden into a source of significant revenue that can be used to further mission-critical activities and better address the challenges that arise in an increasingly demanding economic environment."

About SciQuest
SciQuest's procurement automation and supplier enablement solutions empower leading organizations to realize the potential of strategic procurement. The company's specialized knowledge, on-demand software, and service-first approach enable public and private enterprises across the globe to manage spend, drive ROI, and advance their critical missions.

SciQuest's deep understanding of its served vertical markets combined with a broad supplier network and intuitive, online shopping experience increase user and contract adoption while improving operational efficiencies. Through software-as-a-service (SaaS) deployment, organizations can quickly implement the right eprocurement solution to augment existing ERP investments or fully enable all aspects of purchasing from sourcing to settlement.

For more information about SciQuest, please visit www.sciquest.com or call 877-710-0413 in the U.S. or +44 1794 341182 in Europe.

SciQuest is a registered trademark of SciQuest, Inc. Other trademarks contained herein remain the property of their respective owners.

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