Collaborative project management provider named as a top 200 innovative company

TEL AVIV, ISRAEL, March 26, 2007 – Clarizen, developer of a collaborative, enterprise-grade project management solution for businesses of all sizes, has been selected as a Red Herring 100 Europe finalist by the publication’s editorial board.

“Red Herring and our 50 design partners worldwide have identified market demand for innovation and true collaboration in project management,” said Avinoam Nowogrodski, co-founder and Chief Executive Officer of Clarizen. “We are pleased and honored to be recognized by Red Herring and look forward to releasing our solution to the market more widely in Q2 2007.”

The Red Herring editorial board selected the 200 finalist companies from over 700 applicants after diligent survey of innovative, entrepreneurial companies.  Winners will be announced March 25-27 at Red Herring’s Venture Market Europe 2007 event in Cannes, France.

“This year’s impressive list, and unprecedented number of submissions from companies demonstrates Europe’s emergence as a major player in the global technology sector,” said Red Herring Editor-in-Chief, Joel Dreyfuss.  “The exceptional accomplishments of European technology companies and entrepreneurs are a testament to the rapid advancements being made in building the European innovation ecosystem.”

Red Herring’s lists of top private companies are an important part of the company’s tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google, eBay and Skype were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work.

Clarizen’s collaborative project management solution is already being tested by users from dozens of companies worldwide who have joined the company’s design partners program. Clarizen will launch the public Beta of its project management service in mid-2007. Businesses may register to join Clarizen’s Beta service or apply to become a design partner at the company’s website: clarizen.com

About Red Herring

Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe.  Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.

Contact information:

Jean Lombard
Airfoil PR
(650) 241- 1704
lombard@airfoilpr.com