1. Description of Business SciQuest, Inc. (the Company) provides an on-demand strategic procurement and supplier management solutions that integrates customers with their suppliers to improve procurement of indirect goods and services, such as office supplies, laboratory supplies, furniture, MRO (maintenance, repair and operations) supplies and food and beverages. The Company s on-demand software enables organizations to more efficiently source indirect goods and services, manage their spend and obtain the benefits of compliance with purchasing policies and negotiating power with suppliers. The Company s on-demand strategic procurement software suite, coupled with its managed supplier network, forms the Company s integrated solution, which is designed to achieve rapid and sustainable savings. The Company s solution is designed to optimize tasks throughout the cycle of finding, procuring, receiving and paying for indirect goods and services, which can result in increased efficiency, reduced costs and increased insight into an organization s buying patterns. The Company s core target markets for strategic procurement products are higher education, life sciences, healthcare and state and local governments. In addition, the Company markets supplier management products in the general commercial market without regard to specific verticals. The Company is headquartered in Cary, North Carolina.