SOURCE: OptionEase, Inc.

OptionEase, Inc.

September 09, 2009 10:00 ET

OptionEase Adds Miramar Ventures to Series A Financing

$3.5 Million Series A Round to Be Used to Support Increasing Market Demand for Online Financial Collaboration Software

SAN JUAN CAPISTRANO, CA--(Marketwire - September 9, 2009) - OptionEase® Inc., a leader in on-demand Software as a Service (SaaS) applications for fair market value accounting and compliance, today announced that Miramar Venture Partners has joined the Series A round of financing, bringing the total investment to $3.5 million. In addition, Bruce Hallett, managing director of Miramar Venture Partners, will join the OptionEase board of directors.

"We are delighted to welcome Miramar Venture Partners as an investor in OptionEase. Our ability to attract such an industry leader both reinforces our business strategy and also provides us with additional leadership, guidance and resources," said Kimberly Kovacs, OptionEase co-founder and CEO. "As a profitable startup, we are raising this money to allow us to further accelerate our rapid growth. We see a unique opportunity to gain significant market share and capitalize on changes in the marketplace."

"The market for stock option administration, and in particular FAS 123(R) compliance, has proven to be very robust," said Bruce Hallett, managing director for Miramar Venture Partners. "Having built the product from the ground up to address this specific market need has positioned OptionEase as a leader in this space. Over 350 companies worldwide depend on the OptionEase application to administer their stock plan, and OptionEase has a 98% customer retention rate. Additionally, there is plenty of opportunity for growth through add-on functionality."

About Miramar Venture Partners

Miramar Venture Partners invests in early-stage information technology companies, primarily in Southern California. Miramar's team is highly experienced at working with emerging companies, and it applies that experience as well as financial resources to support entrepreneurs and their teams in building and growing their companies. More information about Miramar can be found at www.miramarvp.com.

About OptionEase

Founded in 2006, OptionEase has become a leader in the highly regulated Governance, Risk and Compliance (GRC) marketplace. The company's first product was designed for FAS 123(R) regulations, but now OptionEase has expanded into other areas such as online collaboration, comprehensive equity management and providing solutions to emerging regulatory challenges. Over 350 private VC funded and large multi-national public corporations rely on the company's FAS 123(R) compliance software. The company is headquartered in San Juan Capistrano, CA and can be reached at 866-550-3273, info@optionease.com or www.optionease.com.

This press release may include forward-looking statements, including statements regarding the company's product development plans, which are subject to change. The actual results may differ materially from those described in any forward-looking statement.

Contact Information

  • Media Relations Contact:
    Tracey Claxton
    OptionEase, Inc.
    949-542-3800 ext. 723
    Email Contact