-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MI0+jT8+wKFawBON7T7iDpIeBCjfzbvBcFeTOgjG2jBebpLtcXJaqmSgRSJI6ajQ ZxlvsdnTmy5rk0CJT/undA== 0000930413-07-001285.txt : 20070214 0000930413-07-001285.hdr.sgml : 20070214 20070214153929 ACCESSION NUMBER: 0000930413-07-001285 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070214 DATE AS OF CHANGE: 20070214 GROUP MEMBERS: INSIGHT VENTURE PARTNERS IV (CAYMAN), L.P. GROUP MEMBERS: INSIGHT VENTURE PARTNERS IV (CO-INVESTORS), L.P. GROUP MEMBERS: INSIGHT VENTURE PARTNERS IV (FUND B), L.P. GROUP MEMBERS: INSIGHT VENTURE PARTNERS IV LP GROUP MEMBERS: SALMON RIVER CAPITAL I, LLC GROUP MEMBERS: SALMON RIVER CAPITAL II, LP GROUP MEMBERS: SALMON RIVER CIP, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CAPELLA EDUCATION CO CENTRAL INDEX KEY: 0001104349 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-82204 FILM NUMBER: 07619739 BUSINESS ADDRESS: STREET 1: 330 SECOND AVE SOUTH STE 550 CITY: MINN STATE: MN ZIP: 55401 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Insight-Salmon River LLC CENTRAL INDEX KEY: 0001380596 IRS NUMBER: 582684670 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 680 FIFTH AVE, 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212 931-5354 MAIL ADDRESS: STREET 1: 680 FIFTH AVE, 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 SC 13G 1 c46779_sc13g.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (RULE 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) (AMENDMENT NO.__)* Capella Education Co. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 139594 10 5 -------------------------------------------------------- (CUSIP Number) December 31, 2006 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: |_| Rule 13d-1(b) |_| Rule 13d-1(c) |X| Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Insight-Salmon River LLC 58-2684670 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of 5. Sole Voting Shares Power 850,000 shares of common stock Beneficially ------------------------------------------------------- Owned by Each 6. Shared Voting Reporting Power Person With: ------------------------------------------------------- 7. Sole Dispositive Power 850,000 shares of common stock ------------------------------------------------------- 8. Shared Dispositive Power - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 850,000 shares of common stock 10. Check box if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 5.4% ------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- CO ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. - -------------------------------------------------------------------------------- Page 2 of 18 pages - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Salmon River Capital I, LLC 42-1650471 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of 5. Sole Voting Shares Power 272,222 shares of common stock Beneficially ------------------------------------------------------- Owned by Each 6. Shared Voting Reporting Power Person With: ------------------------------------------------------- 7. Sole Dispositive Power 272,222 shares of common stock ------------------------------------------------------- 8. Shared Dispositive Power - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 272,222 shares of common stock 10. Check box if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 1.7% ------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- CO ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. - -------------------------------------------------------------------------------- Page 3 of 18 pages - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Salmon River CIP, LLC 42-1614243 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of 5. Sole Voting Shares Power 146,018 shares of common stock Beneficially ------------------------------------------------------- Owned by Each 6. Shared Voting Reporting Power Person With: ------------------------------------------------------- 7. Sole Dispositive Power 146,018 shares of common stock ------------------------------------------------------- 8. Shared Dispositive Power - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 146,018 shares of common stock 10. Check box if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 0.9% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- CO ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. - -------------------------------------------------------------------------------- Page 4 of 18 pages - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Insight Venture Partners IV (Fund B), L.P. 52-2269507 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of 5. Sole Voting Shares Power 194 shares of common stock Beneficially ------------------------------------------------------- Owned by Each 6. Shared Voting Reporting Power Person With: ------------------------------------------------------- 7. Sole Dispositive Power 194 shares of common stock ------------------------------------------------------- 8. Shared Dispositive Power - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 194 shares of common stock 10. Check box if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 0.001% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- PN ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. - -------------------------------------------------------------------------------- Page 5 of 18 pages - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Insight Venture Partners IV (Co-Investors), L.P. 52-2269509 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of 5. Sole Voting Shares Power 2,997 shares of common stock Beneficially ------------------------------------------------------- Owned by Each 6. Shared Voting Reporting Power Person With: ------------------------------------------------------- 7. Sole Dispositive Power 2,997 shares of common stock ------------------------------------------------------- 8. Shared Dispositive Power - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 2,997 shares of common stock 10. Check box if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 0.02% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- PN ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. - -------------------------------------------------------------------------------- Page 6 of 18 pages - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Insight Venture Partners IV, L.P. 52-2269503 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of 5. Sole Voting Shares Power 24,308 shares of common stock Beneficially ------------------------------------------------------- Owned by Each 6. Shared Voting Reporting Power Person With: ------------------------------------------------------- 7. Sole Dispositive Power 24,308 shares of common stock ------------------------------------------------------- 8. Shared Dispositive Power - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 24,308 shares of common stock 10. Check box if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 0.4% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- PN ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. - -------------------------------------------------------------------------------- Page 7 of 18 pages - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Insight Venture Partners IV (Cayman), L.P. 90-0183706 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Cayman Islands - -------------------------------------------------------------------------------- Number of 5. Sole Voting Shares Power 3,251 shares of common stock Beneficially ------------------------------------------------------- Owned by Each 6. Shared Voting Reporting Power Person With: ------------------------------------------------------- 7. Sole Dispositive Power 3,251 shares of common stock ------------------------------------------------------- 8. Shared Dispositive Power - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 3,251 shares of common stock 10. Check box if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 0.02% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- PN ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. - -------------------------------------------------------------------------------- Page 8 of 18 pages - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Salmon River Capital II, L.P. 43-2087060 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization Delaware - -------------------------------------------------------------------------------- Number of 5. Sole Voting Shares Power 55,736 shares of common stock Beneficially ------------------------------------------------------- Owned by Each 6. Shared Voting Reporting Power Person With: ------------------------------------------------------- 7. Sole Dispositive Power 55,736 shares of common stock ------------------------------------------------------- 8. Shared Dispositive Power - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 55,736 shares of common stock 10. Check box if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 0.4% - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) - -------------------------------------------------------------------------------- PN ................................................................................. ................................................................................. ................................................................................. ................................................................................. ................................................................................. - -------------------------------------------------------------------------------- Page 9 of 18 pages ITEM 1. (A) NAME OF ISSUER: Capella Education Co. (B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 225 South 6th Street, 9th Floor Minneapolis, MN 55402 ITEM 2. (A) NAME OF PERSON FILING: Insight Salmon River LLC Salmon River Capital I, LLC Salmon River Capital CIP, LLC Insight Venture Partners IV (Fund B), L.P. Insight Venture Partners IV (Co-Investors), L.P. Insight Venture Partners IV LP Insight Venture Partners IV (Cayman) L.P. Salmon River Capital II LP ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: c/o Insight-Salmon River LLC 680 Fifth Avenue, 8th Floor New York, NY 10019 See also supplemental information relating to principal business office is included in Exhibit 2(a) attached hereto. (B) CITIZENSHIP: Insight Salmon River LLC : Delaware Salmon River Capital I, LLC : Delaware Salmon River Capital CIP, LLC : Delaware Insight Venture Partners IV (Fund B), L.P. : Delaware Insight Venture Partners IV (Co-Investors), L.P. : Delaware Insight Venture Partners IV LP : Delaware Insight Venture Partners IV (Cayman) L.P. : Cayman Islands Salmon River Capital II LP : Delaware
(C) TITLE OF CLASS OF SECURITIES (OF ISSUER): Common Stock (D) CUSIP/ISIN NUMBER: 139594 10 5 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS. 240. 13d-1(b) OR 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: Not applicable. Page 10 of 18 pages ITEM 4. OWNERSHIP (A) AMOUNT BENEFICIALLY OWNED: Insight Salmon River LLC : 850,000 Salmon River Capital I, LLC : 272,222 Salmon River Capital CIP, LLC : 146,018 Insight Venture Partners IV (Fund B), L.P. : 194 Insight Venture Partners IV (Co-Investors), L.P. : 2,997 Insight Venture Partners IV LP : 24,308 Insight Venture Partners IV (Cayman) L.P. : 3,251 Salmon River Capital II LP : 55,736 (B) PERCENT OF CLASS: Insight Salmon River LLC : 5.4% (as of December 31, 2006) Salmon River Capital I, LLC : 1.7% (as of December 31, 2006) Salmon River Capital CIP, LLC : 0.9% (as of December 31, 2006) Insight Venture Partners IV (Fund B), L.P. : 0.001% (as of December 31, 2006) Insight Venture Partners IV (Co-Investors), L.P. : 0.02% (as of December 31, 2006) Insight Venture Partners IV LP : 0.2% (as of December 31, 2006) Insight Venture Partners IV (Cayman) L.P. : 0.02% (as of December 31, 2006) Salmon River Capital II LP : 0.4% (as of December 31, 2006) (C) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS: SOLE POWER TO VOTE: (i) Insight Salmon River LLC : 850,000 Salmon River Capital I, LLC : 272,222 Salmon River Capital CIP, LLC : 146,018 Insight Venture Partners IV (Fund B), L.P. : 194 Insight Venture Partners IV (Co-Investors), L.P.: 2,997 Insight Venture Partners IV LP : 24,308 Insight Venture Partners IV (Cayman) L.P. : 3,251 Salmon River Capital II LP : 55,736 SHARED POWER TO VOTE: (ii) Not applicable. SOLE POWER TO DISPOSE: (iii) Insight Salmon River LLC : 850,000 Salmon River Capital I, LLC : 272,222 Salmon River Capital CIP, LLC : 146,018 Insight Venture Partners IV (Fund B), L.P. : 194 Insight Venture Partners IV (Co-Investors), L.P.: 2,997 Insight Venture Partners IV LP : 24,308 Insight Venture Partners IV (Cayman) L.P. : 3,251 Salmon River Capital II LP : 55,736
SHARED POWER TO DISPOSE: (iv) Not applicable. ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS Not applicable. Page 11 of 18 pages ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON Not applicable. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON Not applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP Not applicable. ITEM 10. CERTIFICATION Not applicable Page 12 of 18 pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 14, 2007 INSIGHT - SALMON RIVER LLC BY: SALMON RIVER CAPITAL LLC ITS MANAGING MEMBER By: /s/ S. Joshua Lewis ------------------------------------- Name: S. Joshua Lewis Title: Managing Member INSIGHT VENTURE PARTNERS IV, L.P. BY: INSIGHT VENTURE ASSOCIATES IV, LLC ITS GENERAL PARTNER BY: INSIGHT HOLDINGS GROUP, LLC ITS MANAGING MEMBER By: /s/ Jeffrey Horing ------------------------------------- Name: Jeffrey Horing Title: Managing Member SALMON RIVER CAPITAL I LLC BY: SALMON RIVER CAPITAL LLC ITS MANAGING MEMBER By: /s/ S. Joshua Lewis ------------------------------------- Name: S. Joshua Lewis Title: Managing Member SALMON RIVER CIP LLC BY: SALMON RIVER CAPITAL LLC ITS MANAGING MEMBER By: /s/ S. Joshua Lewis ------------------------------------- Name: S. Joshua Lewis Title: Managing Member Page 13 of 18 pages INSIGHT VENTURE PARTNERS IV (FUND B), L.P. BY: INSIGHT VENTURE ASSOCIATES IV, LLC ITS GENERAL PARTNER BY: INSIGHT HOLDINGS GROUP, LLC ITS MANAGING MEMBER By: /s/ Jeffrey Horing ------------------------------------- Name: Jeffrey Horing Title: Managing Member INSIGHT VENTURE PARTNERS IV (CO-INVESTORS), L.P. BY: INSIGHT VENTURE ASSOCIATES IV, LLC ITS GENERAL PARTNER BY: INSIGHT HOLDINGS GROUP, LLC ITS MANAGING MEMBER By: /s/ Jeffrey Horing ------------------------------------- Name: Jeffrey Horing Title: Managing Member INSIGHT VENTURE PARTNERS (CAYMAN) IV, L.P. BY: INSIGHT VENTURE ASSOCIATES IV, LLC ITS GENERAL PARTNER BY: INSIGHT HOLDINGS GROUP, LLC ITS MANAGING MEMBER By: /s/ Jeffrey Horing ------------------------------------- Name: Jeffrey Horing Title: Managing Member SALMON RIVER CAPITAL II, L.P. BY: SALMON RIVER CAPITAL GP, LLC ITS GENERAL PARTNER By: /s/ S. Joshua Lewis ------------------------------------- Name: S. Joshua Lewis Title: Managing Member Page 14 of 18 pages EXHIBIT 2(A) ITEM 2. IDENTITY AND BACKGROUND. This statement is being filed by Insight-Salmon River LLC., a Delaware limited liability company, Salmon River Capital I, LLC, a Delaware limited liability company, Salmon River CIP, LLC, a Delaware limited liability company and Salmon River Capital II, L.P., a Delaware limited liability company, each of whose principal business office is located 680 Fifth Avenue, New York, New York 10019. Each of Insight-Salmon River LLC, Salmon River Capital I, LLC, Salmon River CIP, LLC and Salmon River Capital II, LLC is engaged in the venture capital business. The managing member of Insight-Salmon River LLC, Salmon River Capital I, LLC and Salmon River CIP, LLC is Salmon River Capital LLC which is also engaged directly and indirectly (through affiliates) in the venture capital business. The general partner of Salmon River CIP, LLC is Salmon River Capital GP, LLC. Accordingly, Mr. Lewis has voting and investment powers with respect to the shares beneficially owned by the Salmon Funds. The managing member of Salmon River Capital LLC and the sole member of Salmon River Capital, GP, LLC is S. Joshua Lewis, a director of the Issuer. Mr. Lewis disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. This Statement is also being filed by Insight Venture Partners IV, L.P., a Delaware limited partnership (hereinafter referred to as "IVP"), Insight Venture Partners IV (Co-Investors), L.P., a Delaware limited partnership (hereinafter referred to as "IVP Co-Investors"), Insight Venture Partners (Cayman) IV, L.P., a Cayman Islands limited partnership (hereinafter referred to as "IVP Cayman"), Insight Venture Partners IV (Fund B), L.P., a Delaware limited partnership (hereinafter referred to as "IVP Fund B"). The managing member of each of the Insight Funds is Insight Venture Associates IV, LLC, a Delaware limited liability company (hereinafter referred to as "Associates") and the managing member of Associates is Insight Holdings Group, LLC, a Delaware limited liability company (hereinafter referred to as "Holdings") each of whose principal office is located at c/o Insight Capital Partners IV, L.P., 527 Madison Avenue, 10th Floor, New York, New York 10022. Each of IVP, IVP Co-Investors, IVP Cayman and IVP Fund B (collectively referred to herein as the "Insight Funds") is engaged in the venture capital business. Each of the Associates and Holdings is engaged in the venture capital business indirectly through the Insight Funds. Associates is the general partner of each of the Insight Funds, and as such may be deemed to be the beneficial owner of all shares held by the Insight Funds. Holdings is the managing member of Associates, and as such may be deemed to be the beneficial owner of all shares held by the Insight Funds. The managing member of Insight-Salmon River, LLC is Salmon River Capital LLC, and the non-managing members of Insight-Salmon River LLC are the Insight Funds, Salmon River Capital LLC, as managing member of Insight-Salmon River LLC, generally controls the voting power over the shares held by Insight-Salmon River LLC, but the Insight Funds have shared voting power with Salmon River Capital LLC over the shares with respect to certain matters. In addition, Salmon River Capital LLC and the Insight Funds have shared investment power over the shares held by Insight-Salmon River LLC. Mr. Lewis, Associates and Holdings have shared voting and investment powers with respect to the shares beneficially owned by Insight-Salmon River LLC. The foregoing is not an admission by such persons that such persons are the beneficial owners of the shares held by Insight-Salmon River LLC and each disclaims beneficial ownership of such shares except to the extent of their pecuniary interest therein. Page 15 of 18 pages EXHIBIT 2(B) JOINT FILING AGREEMENT The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other, except to the extent that he or it knows or has reason to believe that such information is accurate. Dated this 14th day of February, 2007. INSIGHT - SALMON RIVER LLC BY: SALMON RIVER CAPITAL LLC ITS MANAGING MEMBER By: /s/ S. Joshua Lewis ------------------------------------- Name: S. Joshua Lewis Title: Managing Member INSIGHT VENTURE PARTNERS IV, L.P. BY: INSIGHT VENTURE ASSOCIATES IV, LLC ITS GENERAL PARTNER BY: INSIGHT HOLDINGS GROUP, LLC ITS MANAGING MEMBER By: /s/ Jeffrey Horing ------------------------------------- Name: Jeffrey Horing Title: Managing Member SALMON RIVER CAPITAL I LLC BY: SALMON RIVER CAPITAL LLC ITS MANAGING MEMBER By: /s/ S. Joshua Lewis ------------------------------------- Name: S. Joshua Lewis Title: Managing Member Page 16 of 18 pages SALMON RIVER CIP LLC BY: SALMON RIVER CAPITAL LLC ITS MANAGING MEMBER By: /s/ S. Joshua Lewis ------------------------------------- Name: S. Joshua Lewis Title: Managing Member INSIGHT VENTURE PARTNERS IV (FUND B), L.P. BY: INSIGHT VENTURE ASSOCIATES IV, LLC ITS GENERAL PARTNER BY: INSIGHT HOLDINGS GROUP, LLC ITS MANAGING MEMBER By: /s/ Jeffrey Horing ------------------------------------- Name: Jeffrey Horing Title: Managing Member INSIGHT VENTURE PARTNERS IV (CO-INVESTORS), L.P. BY: INSIGHT VENTURE ASSOCIATES IV, LLC ITS GENERAL PARTNER BY: INSIGHT HOLDINGS GROUP, LLC ITS MANAGING MEMBER By: /s/ Jeffrey Horing ------------------------------------- Name: Jeffrey Horing Title: Managing Member INSIGHT VENTURE PARTNERS (CAYMAN) IV, L.P. BY: INSIGHT VENTURE ASSOCIATES IV, LLC ITS GENERAL PARTNER BY: INSIGHT HOLDINGS GROUP, LLC ITS MANAGING MEMBER By: /s/ Jeffrey Horing ------------------------------------- Name: Jeffrey Horing Title: Managing Member Page 17 of 18 pages SCHEDULE 13G ISSUER: Capella Education Co. CUSIP NO.: 139 594 105 SALMON RIVER CAPITAL II, L.P. BY: SALMON RIVER CAPITAL GP, LLC ITS GENERAL PARTNER By: /s/ S. Joshua Lewis ------------------------------------- Name: S. Joshua Lewis Title: Managing Member Page 18 of 18 pages -----END PRIVACY-ENHANCED MESSAGE-----