OptionEase, Inc. Completes Investment with Tech Coast Angels and Pasadena Angels
A Software as a Service (SaaS) solution, OptionEase helps public and private companies satisfy all audit requirements regarding FAS 123(R) [now ASC Topic 718] - Accounting for Employee Stock Options
SAN JUAN CAPISTRANO, CA, November 19, 2007 — OptionEase Inc., a Software as a Service (SaaS) provider for the equity-compensation compliance marketplace, eclipsed another company milestone on Nov. 14 by closing an investment round co-led by Tech Coast Angels and Pasadena Angels. To date, OptionEase has captured more than $1.4 million in cash, service and technology investments.
“We are privileged to be recognized by the TCA and Pasadena Angels as a qualified investment,” said Kimberly Kovacs, founder and chief executive officer, OptionEase. “Their active participation in our business will enable us to rapidly expand our customer reach by funding branding, business development and customer acquisition activities. Since releasing our application and service offerings in 2006, we have garnered an overwhelmingly positive response from the CFO community and will use the funding to expand our market footprint.”
OptionEase is a software solution, delivered as a service, designed around approved valuation methodologies and particulars of the FAS 123(R) [now ASC Topic 718] regulations. OptionEase’s customers, such as Integrien Corp., say its Web-based technology is flexible and robust enough to meet the complex requirements of large public companies yet simple and cost-effective for small private companies.
“OptionEase really helped us prepare for our audit and drastically reduced the amount of time we needed to spend on the usually daunting task,” said Mark Smialowicz, chief financial officer, Integrien, a venture-backed, intelligent systems management company. “The OptionEase team includes CPAs and other industry experts, so they understand the complexities of equity compliance. More importantly, the OptionEase software application is by far the easiest to use and the best in the marketplace.”
About OptionEase, Inc.
OptionEase (www.optionease.com) is leading the evolution of SaaS-delivered regulatory applications in the highly complex governance, risk and compliance (GRC) marketplace. The company’s first product was designed specifically for audit compliance under FAS 123(R) (ASC Topic 718) and now encompasses a full suite of end-to-end equity management tools. This SAS 70 Level II certified solution “standardizes compliance” and enables secure collaboration across multiple constituents, allowing clients to focus on strategic business functions. More than 400 private VC-funded and large multi-national public corporations rely on OptionEase's solutions and service to comply with financial and regulatory reporting requirements under FAS, SEC and IASB. OptionEase is located in San Juan Capistrano, Calif. and funded by venture capital and private equity.
About Tech Coast Angels
Tech Coast Angels is the largest angel network in the United States and the number one source of startup funding in Southern California. TCA members have invested more than $80 million in more than 128 companies and have helped attract more than $776 million of additional capital, mostly from venture capital firms. TCA operates networks in Los Angeles, Orange County, San Diego and Westlake/Santa Barbara.
About Pasadena Angels
The Pasadena Angels is a group of more than 100 accredited entrepreneurial investors who provide early-stage financing and counsel to emerging companies located in Southern California. In the first seven years since its founding in 2000, Pasadena Angels investors have funded more than 45 companies with more than $15 million. |