SANTA CLARA, Calif. --(Business Wire)-- Ketera, the leading provider of On Demand Spend Management solutions, today announced that the company's founder, Steve Savignano, has been appointed as the new chief executive officer. Savignano will replace Burton M. Goldfield who joined the company as CEO in April of 2006. Previously, Savignano served as CEO of Ketera from 2003 to 2006 and helped build the company's team and strategy as a leader in the global Enterprise Spend Management market. Having served as a member of Ketera's board of directors during the interim, he will now assume the CEO position to evolve the company's growth strategy and accelerate product innovation in the Enterprise Spend Management market. Savignano's transition to CEO of Ketera will be effective immediately.

"The global market for Enterprise Spend Management solutions is experiencing healthy growth, and to date, Ketera has had great success by delivering business value to customers with its on demand offerings," said Goldfield. "With Steve's extensive experience in software technology innovation and his vision for the market, I'm confident he will lead Ketera through its next phase of growth and into a dominant marketplace position."

"I'm excited to step back into a leadership position and expand on the success Ketera has achieved to date as a leader in the on demand spend management market," said Savignano. "Burton has done an exceptional job building the team at Ketera and reaching key corporate milestones, achieving both GAAP profitability and cash flow positive performance in the fourth quarter of 2007. Ketera is poised for its next stage of significant growth and I'm confident 2008 will be a break-out year for the company as we build on our success and continue leveraging our technology leadership as a SaaS platform to drive innovation across the Enterprise Spend Management market."

"We are delighted Steve will be joining Ketera as CEO and driving the company through its next phase of product innovation and growth," said Ted Schlein, partner at Kleiner Perkins Caulfield & Byers. "Today, SaaS continues to be one of the hottest growth areas in technology and Ketera is poised for explosive growth. We are confident Steve has the vision and the experience needed to expand on Ketera's successes and take the company to the next level."

About Ketera

Ketera is the fastest-growing provider of On Demand Spend Management solutions, providing companies with the applications and services needed to control and reduce corporate spending. Ketera's closed-loop spend management solutions include applications for spend analysis, sourcing, contract management, procurement, supplier enablement & content management, supplier performance management, and invoice management.

Since its inception, Ketera has supported enterprise customers of all sizes, industries and geographies, including numerous Fortune 500 companies. In 2007, Ketera surpassed $17 trillion in spend analyzed and more than $2 billion in transactions processed between buyers and suppliers. Many of the world's leading enterprise companies, including ServiceMaster, American Express, Kennametal, Con-way, and Northrop Grumman Corporation, depend on Ketera Spend Management to deliver real, hard-dollar savings quickly. Ketera's investors include Kleiner Perkins Caulfield & Byers, Emergence Capital Partners, Foundation Capital, Integral Capital Partners, Concentric Equity Partners, Duff, Ackerman and Goodrich (DAG) Ventures, and Teachers' Private Capital.

For more information about Ketera and the Ketera Spend Management suite of services, please visit: http://www.ketera.com.

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Ketera Founder Returns to Lead Company

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