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September 17, 2002
FOR IMMEDIATE RELEASE
StatementOne secures an additional $3 million in
funding
LAWRENCEVILLE, NJ — StatementOne, the industry
leader in enterprise data consolidation and web-based
portfolio accounting and performance measurement, announced
today that that it has secured an additional $3 million
in funding, led by a new investor, New York City-based
Hudson Venture Partners. The new infusion of cash will
be used to expand IT development to add new features
and functionality, increase implementation capacity
and enhance customer support. Also participating in
this financing round is Charterhouse Group International,
one of StatementOne's original investment partners.
"StatementOne fits well into our strategy of finding
companies that have a product or service with a proprietary
technology or unexploited market niche, coupled with
outstanding business and revenue models," said
Glen Lewy, senior managing director for Hudson Ventures.
He added, "StatementOne has developed and commercialized
a breakthrough technology in spite of less-than-favorable
market conditions. We look forward to helping management
grow the company." Lewy will also join the company’s
board of directors.
"We're very excited to have Hudson Ventures both
as an investor and a board member. Their infusion of
capital and their operational expertise in helping to
grow companies, will help us to meet the ever-increasing
demand for our enterprise data consolidation applications
within the financial services sector," said Greg
Pacholski, StatementOne's president and chief operating
officer."
About Hudson Ventures
New York City-based Hudson Ventures is an early-stage
technology venture fund, whose members have decades
of experience in operating and advising companies through
various stages, including concept development, expansion,
public offerings, and mergers and acquisitions. Established
in 1997, Hudson Ventures has invested in over 30 technology
companies both as a lead investor and as a co-investor
in syndicated venture financings. A licensed Small Business
Investment Company (SBIC) with more than $170 million
of capital under management, the firm typically makes
private equity investments ranging from $2 million to
$5 million.
About Statementone
StatementOne consolidates data for financial institutions
and other enterprises, collecting transaction-level
data sets from both legacy systems and external custodians,
utilizing direct data feeds. They currently manage account
data for 43 financial institution clients, representing
over a hundred billion dollars in assets, tens of thousands
of financial advisors and millions of investors and
individual accounts. They provide a secure, web-based,
turnkey service which delivers securities account aggregation,
portfolio accounting and performance reporting to financial
institutions, branch managers, registered representatives
and their investor clients. Their proprietary software
cleans, organizes and reconciles the data, producing
a consolidated, unified data structure, with virtually
no manual intervention. This scalable database is also
used to feed critical, best-of-breed applications for
use in business planning, analytics and CRM. Their current
clients include independent broker/dealers, banks, credit
unions and other financial institutions.
David Z. Orban,
Vice President of marketing
(609) 806-0227.
For more
information on this article please go to
www.statementone.com
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