Carbonite Secures $2.5M in Series A Financing from 3i, CommonAngels

Boston, MA - February 24, 2006 - Carbonite, a provider of secure Internet-based backup for all PC and laptop owners, founded in 2005 by serial entrepreneur, David Friend, and seasoned technology executive, Jeff Flowers, announced today the completion of a $2.5M Series A investment round. Investors included venture-capital firm 3i and angel groups Common Angels and Keiretsu Forum. Mikko Suonenlahti, a partner at 3i, was named to the Carbonite board of directors. Funding will be used to expand the company's marketing efforts worldwide.

"This round was already fully funded when we met 3i," said David Friend, "and we weren't really looking to bring in a VC. However, we were so impressed with the international resources that 3i could bring to the table and their background in consumer technology that we agreed to restructure our round to make room for them. We are thrilled to have Mikko on our board and to be able to tap into 3i's considerable resources. "

"This was an opportunity to invest with a proven team of entrepreneurs -- Carbonite is the fifth company that David Friend and Jeff Flowers have founded together. Carbonite offers a compelling alternative to traditional methods of backing up files," added Mr. Suonenlahti. "Carbonite has come up with a way to make backing up your PC really simple and inexpensive. We think this kind of backup service will become as ubiquitous as virus protection or anti-spyware," said Mr. Suonenlahti.

Carbonite backup is available at www.carbonite.com and at Staples stores.

About David Friend and Jeff Flowers
Prior to founding Carbonite, David Friend and Jeff Flowers co-founded four other companies as CEO and CTO respectively:

• Computer Pictures Corp., sold profitably to Cullinet Software, subsequently acquired by Computer Associates.
• Pilot Software, a leading producer of OLAP and decision support systems for the retail industry. About $40M in revenues when we sold to Dun & Bradstreet.
• FaxNet Corp., a leading provider of fax-to-email and email-to-fax services, marketed under the Verizon, US West, Ameritech, Bell South, and other phone company brands. Sold in 1998 for about $240M.
• Sonexis, Inc., a manufacturer of CPE VoIP audio and web conferencing hardware, still private and thriving.

David has a BA, Scholar of the House, from Yale and pursued graduate work in engineering at Princeton. Jeff has a BS and MS in computer science from Georgia Tech.

About Carbonite

Carbonite was founded in 2005 in order to provide Internet-based Backup for Everyone(tm). Although data loss is a very common problem, few people backup their PCs: existing methods of backup are tedious, time consuming and often too expensive. Furthermore, most don't provide protection against PC theft, damage and natural disasters.

At Carbonite, we believe PC users shouldn't have to think about backup. Our mission is to provide an inexpensive, reliable and truly easy-to-use solution for the mainstream PC user; one that is simple, safe and always on(tm).

About 3i

3i is a world leader in private equity and venture capital. We focus on Buyouts, Growth Capital and Venture Capital and invest across Europe, in the United States and in Asia Pacific. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders. In the 6 months to 30 September 2005, 3i achieved ealizations of over £1bn and invested £835m, including co-investment funds, of which 3i's Venture Capital business invested £58m in early stage technology companies globally across four specialist sectors: communications, software, healthcare and electronics, semiconductors and advanced technologies ("ESAT"). Its portfolio of 200 companies includes Vonage (VOIP), Udex (RFID), Microsulis (medtech), EnOcean (energy) with successful ealizations through Interhyp, dtms, RedDot, Element5, Bookham, CSR, Arakis, UbiNetics and many others.

For more information, go to www.3i.com.