Varicent Rapid Growth Continues

Strong Q3 highlighted by US$35 million funding raise, significant new customer wins and award honors from Deloitte Technology Fast 50(TM) and CRM Magazine

TORONTO, November 18 - Varicent Software Incorporated, a leading innovator and provider of sales
performance management (SPM) and incentive compensation (ICM) solutions today
announced strong company-wide performance for Q3. Securing the second largest
privately-funded IT funding deal for Q3 2009, behind only Facebook, Varicent
also realized extensive new customer wins and increased revenues from
existing customers. In addition, Varicent was recognized as a Deloitte
Technology Fast 50 "Companies-to-Watch" and named Incentive Compensation
Market Leader by CRM Magazine.

Varicent will use the new funds to accelerate its growth and continue its
momentum as a market leader. The company plans to accelerate global
expansion, increase mid-market penetration and expand to new verticals. The
funds will also be used to drive continued product innovation and capability
for Varicent's best-of-breed sales performance management solution, Varicent
SPM.

"We are having a great year and we attribute Varicent's success to
providing organizations the tools and information they need to improve sales
effectiveness," said Dan Shimmerman, President and CEO, Varicent Software.
"There is an ever-increasing need for organizations to find solutions that
close the gap between business strategy and actual sales performance.
Increasingly, organizations are turning to Varicent to help them close this
gap."

Varicent continues to deliver successful results and maintain its
position as a leader in Sales Performance Management. Time and time again,
Varicent SPM is acknowledged with positive reviews from customers, analysts
and the press. Q3 2009 highlights include:

    -- Won a coveted 2009 Deloitte Technology Fast 50 "Companies-to-Watch"
       award.

    -- Named an Incentive Compensation Market Leader for 2009 by CRM
       Magazine.

    -- Signed 8 new enterprise customers, including Bank of the West, Absa
       Life and MTS Allstream. Significant growth within Varicent's existing
       customers was also realized.

    -- Received Salesforce.com AppExchange certification. Varicent SPM can be
       experienced seamlessly from within the salesforce.com user interface.
       Business users have access to personalized compensation details and
       commission statements within one interface.

    -- Hosted a Banking Industry Roundtable with U.S. regional banks. The
       roundtable discussion focused on linking incentive compensation and
       profitability. The results of this timely analysis of compensation in
       the banking industry can be downloaded at
       www.varicent.com/BankingRoundTable.

    -- Hosted its annual Customer Advisory Board meeting in Toronto, Canada.
       The event included executives from Varicent and some of its key
       customers for a series of discussions which focused on opportunities,
       challenges, and technology advances in the field of SPM. Leaders from
       various industries including medical devices, technology, media and
       various service organizations participated in the event.

    -- Sustained company expansion with over 25 full-time global hires in
       Hong Kong, London, Toronto and various US locations, growing
       Varicent's employee base to over 140 worldwide.

About Varicent Software Incorporated

Varicent Software Incorporated is an innovative software solutions
provider delivering measurable improvements to its clients businesses through
its industry-leading sales performance management solution Varicent SPM.
Varicent's customers are high-performing companies representing a variety of
industries and include Waste Management, Convoy Financial Group,
Sherwin-Williams, Manpower, Autodesk, Getty Images, Starwood Hotels, Sun Hung
Kai Financial, and many others. For more information, please visit
www.varicent.com.

(c)2009 Varicent Software. All rights reserved. Varicent and Varicent SPM
are trademarks of Varicent Software Incorporated. All other trademarks and
company names mentioned are the property of their respective owners.

Brian Hartlen, Varicent Software, +1-416-987-1241, bhartlen at varicent.com