News

StatementOne Secures $5 Million in "B" Round Financing...

LAWRENCEVILLE, NJ, USA
September 26, 2001

StatementOne, the industry leader in direct-feed enterprise data consolidation and performance reporting, has announced that it has secured an additional $5 million in "B" round financing. This new round is projected to take StatementOne to profitability by the third quarter of 2002. Investors in this financing round include original partners Allianz of America, Inc. (NYSE: AZ), Axiom Ventures Partners, Boston Ventures, Charterhouse Group International, and ING Aetna Financial Services (NYSE: ING).

"We're very pleased to have had the continued support of such a forward-thinking group of investment partners helping StatementOne to bring our enterprise data consolidation applications to the financial services community," said Greg Pacholski, president and chief operating officer of StatementOne. "In the wake of so many recent mergers and acquisitions, institutions are looking for ways to consolidate enormous amounts of customer data from disparate sources and legacy systems. While attempts by others to use more common aggregation and screen-scraping techniques have proved inadequate, StatementOne's own proprietary technology has proven to be very successful. This infusion of capital will enable us to expand our footprint in this marketplace, and will bring us to profitability in the third quarter of 2002."

StatementOne consolidates data for financial institutions and other enterprises. They collect transaction-level data sets from both legacy systems and external custodians, utilizing direct data feeds. Their proprietary software cleans, organizes and reconciles the data, producing a consolidated, unified data structure, with virtually no manual intervention. This extraordinarily scalable data model is then used to feed critical, best-of-breed applications for advanced business planning and Customer Relationship Management (CRM) applications. It is also used to power StatementOne's own web-based Consolidated Statements platform, which provides dynamic performance reporting capabilities for an institution's home offices, branch managers, advisors and individual investors. Our current client roster includes ING Advisors Network broker dealers Locust Street Securities, IFG Network Securities, Vestax Securities and Multi-Financial Securities; CalFed Bank; Cambridge Investment Research; FSC Securities Corporation (a SunAmerica Company), among others.

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