OptionEase closes $2.5 Million in series A financing
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OptionEase closes $2.5 Million in series A financing
San Juan Capistrano: OptionEase, a player in On Demand Software as a Service (SaaS) applications for fair market value accounting and compliance, has closed $2.5 Million in series A financing, led by GADS Option Fund, a private equity fund out of Irvine, California, with participation from the company's current investors. "Since launching our software application service two years ago, OptionEase has been able to attract and retain over 350 customers ranging from private venture backed companies to large multi-national public corporations," states Kimberly Kovacs, OptionEase Co-founder and CEO. "OptionEase has been able to achieve year on year growth of over 300 percent, retain over 90 percent of its customers, attain cash flow positive within 18 months of operations and achieve GAAP profitability. With two compelling term sheets to select from and not needing capital, we decided to move forward with the round so we can accelerate our growth and launch new technology initiatives," adds Kovacs. Founded in 2006, OptionEase is a SAS 70 TYPE II certified application in the equity compliance space that was designed specifically for Audit and SEC compliance. The company's first product was designed for FAS 123(R) regulations, but now OptionEase has expanded into other areas such as cap table management and solving complex regulatory issues such as FAS 157 and International Financial Reporting Standards.

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