Pre-IPO Investor Makes Investment in Cloud-Based Human Capital Management Software Company

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)-- Keating Capital, Inc. (KIPO) (www.KeatingCapital.com) announced that it has made a $5 million investment in the Series C Convertible Preferred Stock round of SilkRoad Technology Holdings, Inc. (SilkRoad). Keating joined new investor, NTT Finance, and existing investors, including Azure Capital, Crosslink Capital, Foundation Capital and Tenaya Capital, in the Series C financing round which raised a total of $35 million.

Founded in 2003 and headquartered in Chicago, Illinois, SilkRoad is a global provider of cloud-based social talent management software, including tools for human resource management systems, recruiting, onboarding, learning, and performance management. SilkRoads comprehensive suite of human resource management solutions, the SilkRoad® Life Suite® product line, assists companies with managing the entire employee life cycle from pre-hire to retire.

SilkRoad was founded by technology entrepreneur Flip Filipowski, who previously started Platinum Technology, a database management company that completed an IPO and was subsequently sold to Computer Associates in 1999.

SilkRoad has recently been recognized with a bronze medal in the 2012 Stevie® Awards for the Innovation in Customer Service category and was named as a finalist in the 2012 CODiE" Awards for excellence in its software solutions. The Stevie® Awards were created in 2002 to honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide. The CODiE" Awards recognize excellence in the business software, digital content and education technology industries.

We believe software as a Service (or SaaS) businesses with growing streams of recurring revenue are valuable assets; SilkRoad is one such company operating in the human resources space, stated Timothy J. Keating, CEO of Keating Capital. Flip and his team understand from past experience what it takes to transform an idea into a growing private company and beyond. We are delighted to become a direct investor in SilkRoad as they progress the company to the next level, added Mr. Keating.

SilkRoad is Keating Capitals third new portfolio company investment in 2012. With this investment, Keating Capital has now made investments of $49.5 million in 17 portfolio companies, including $13.6 million invested year-to-date.

About Keating Capital, Inc.

Keating Capital is a business development company that specializes in making pre-IPO investments in innovative, emerging growth companies that are committed to and capable of becoming public. We provide investors with the ability to participate in a unique fund that allows our stockholders to share in the potential value accretion that we believe typically occurs once a company transforms from private to public status. Keating Capitals shares are listed on Nasdaq under the ticker symbol KIPO.

To be added to Keating Capitals email distribution list to receive quarterly newsletters and other announcements, go to www.KeatingCapital.com/contact.

Forward-Looking Statements

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect Keating Capitals current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release, including the factors set forth in Risk Factors set forth in Keating Capitals Form 10-K and Form 10-Q filed with the Securities and Exchange Commission (SEC), and subsequent filings with the SEC. Please refer to Keating Capitals SEC filings for a more detailed discussion of the risks and uncertainties associated with its business, including but not limited to the risks and uncertainties associated with investing in micro- and small-cap companies. Except as required by the federal securities laws, Keating Capital undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. The reference to Keating Capitals website has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.

Third Party Websites

The hyperlink to SilkRoads website is located on a third party server that is not associated with Keating Capital. Keating Capital does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site or by any advertiser on the site. Keating Capital does not take responsibility for third party websites and is not responsible for the accuracy or completeness of any business, financial or other information contained on such website.

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Keating Capital, Inc.
Investor Relations Contact:
Margie L. Blackwell, 720-889-0133
Investor Relations Director
mb@keatinginvestments.com
or
Public Relations Contact:
JCPR, Inc.
Chris Moon, 973-850-7304
chris@jcpr.com

Source: Keating Capital, Inc.

Copyright Business Wire 2012