News

StatementOne Secures $15 Million in First Round of Fundraising

November 13, 2000

Lawrenceville, NJ – StatementOne (www.statementone.com), an industry leader in web-based financial data aggregation and consolidated financial statements, secured an additional $15 million in the first round of financing during the second quarter of 2000. This new venture funding has fueled StatementOne's initial startup operations and software development costs directly related to the rollout of its proprietary online product - StatementOne.com.

Investors in the company's financing round include leading venture capital firms Boston Ventures Management, Inc. ($4M), Charterhouse Group International - www.charterhousegroup.com ($4M), Allianz of America, Inc. - www.allianz.com ($1.5M), Desai Capital Management Inc. - www.desaicapital.com ($2.5M), and Axiom Ventures Partners, LP - www.axiomventures.com ($3M).

"We're pleased to have had the support of such a stellar group of investment partners helping StatementOne bring web-based products to the financial investment community," said Lou Gerber, chairman and CEO of StatementOne. "This capital infusion has allowed us to 'turn on a dime' in meeting our client institutions' short- and long-term aggregation/consolidation needs."

StatementOne develops products that enable broker/dealers, financial advisors, and investors to accurately and instantly gauge the progress of their financial information. The company's first-line product is a web platform called "StatementOne.com," a performance-optimized tool designed to give financial advisors and their clients powerful consolidated statements and performance reporting. StatementOne.com is powered by a data processing system known as the Financial Data Network (FDN). Over six years in development, the FDN securely gathers, cleans and stores diverse financial information from numerous data sources or interfaces, without the aid of manual or even advisor-level data gathering, as with other portfolio management systems. StatementOne.com consolidates transactional level financial data for institutions and their clients and runs reports for any mix of accounts in real time.

For more information contact StatementOne at marketing@statementone.com.