MONOSPHERE CLOSES $6 MILLION IN ADDITIONAL FUNDING FOR
NEW STORAGE CAPACITY PLANNING TECHNOLOGY

Redwood City, CA – August 30, 2005 – MonoSphere Inc., an independent storage management software innovator, announced today that it had received $6.0 million in additional funding from current investors. MonoSphere will use the funding for additional technology development for further expansion of its storage capacity planning software and to expand sales and marketing efforts to accelerate company revenue growth. This brings the total capital raised by the company to $30 million.
 
"We are gratified to have the support of our investors," said Ray Villeneuve, MonoSphere's chairman, president and CEO.  "This financing further validates the market opportunity for MonoSphere’s vision and the significant benefits we're delivering to our growing base of enterprise customers and partners."

“ComVentures views our investment in MonoSphere as an opportunity to invest in a company that is uniquely positioned to alter the way enterprises strategically plan their storage infrastructures," said Michael Rolnick of ComVentures.  "It is clear from our studies and customer feedback that this market is underserved and needs technology to address a significant, expensive problem – the unabated growth and cost of storage. We look forward to working with the company to achieve this goal."

"MonoSphere has attracted a strong management team which has made excellent progress in delivering a truly innovative storage capacity planning solution" said Chris Schaepe, general partner, Lightspeed Venture Partners.  "We look forward to working with the company to gain widespread industry acceptance of their solution."

About ComVentures
ComVentures, a venture capital firm with more than $1.5 billion under management specializes in early-stage investments in the communications market.  ComVentures focuses its investment expertise on pioneering, progressive companies that capitalize on the constant drive to build next-generation components, systems, software, and services.

ComVentures' investment professionals have deep technical, financial, and "hands-on" entrepreneurial experience.  ComVentures consistently uncovers groundbreaking communications technologies, helps lead and grow its portfolio companies, and assists these companies in deploying new technologies in an ever-changing marketplace.  For more information about ComVentures visit HYPERLINK "http://www.comventures.com" www.comventures.com.

About Lightspeed Venture Partners
Lightspeed Venture Partners combines extensive venture capital and operating experience to assist entrepreneurs in creating industry-leading technology companies. Lightspeed manages $2.3 billion in funds and focuses on early stage investments in the software and networking sectors.  Among its companies are AirGate PCS, Brocade Communications Systems, Ciena, Federal Express, Galileo Technology, Genesys, Informatica, Quantum Effect Devices, Sirocco Systems and Vantive.  For more information about Lightspeed visit HYPERLINK "http://www.lightspeedvp.com" www.lightspeedvp.com.

About Benchmark Capital
Benchmark Capital was founded in 1995 with the mission of helping talented entrepreneurs build major technology enterprises, focused on long-term growth.  Managing more than $2.3 billion in committed venture capital, Benchmark invests in technology-driven companies in the areas of enterprise software and services, networking equipment and services, semiconductors, mobile computing, consumer services and financial services.  The firm's portfolio includes such franchise companies as eBay (EBAY), Handspring (HAND), Juniper Networks (JNPR) and Red Hat Software (RHAT).  For more information about Benchmark visit HYPERLINK "http://www.benchmark.com" www.benchmark.com.

About MonoSphere
MonoSphere, an independent storage management software innovator, helps large to mid-size enterprises forecast, plan, and optimize their storage capacity. MonoSphere’s agent-less software provides customers with the strategic insight they need to maximize resource utilization while proactively planning for future demand. Unlike first-generation reporting tools, MonoSphere delivers clear, accurate, and actionable recommendations so customers can increase their service levels while reducing capital expenditures – all without assuming unnecessary risks that can compromise business processes.

MonoSphere is headquartered in Redwood City, California, and is led by a team of proven innovators in enterprise management and storage infrastructure software markets. Customers include financial services, technology, life sciences, and telecommunications enterprises. The company has attracted $30 million in backing from top-tier investors Lightspeed Venture Partners and ComVentures. For more information, go to www.monosphere.com.

For more information:
Frank Kettenstock
650-595-3102
frank@monosphere.com