SOURCE: Social Solutions

April 17, 2008 10:03 ET

Social Solutions Secures Additional Funding to Close Round A With a Total of $2.75 Million

Leading Provider of Performance Management Solutions for Nonprofits Will Invest in Furthering Coordinated Citywide Social Service Delivery

BALTIMORE, MD--(Marketwire - April 17, 2008) - Social Solutions, a leading provider of performance management technology to the nonprofit sector, announced today that it has received additional funding from IDEA Fund Partners. With this funding and an initial investment by WWC Capital Group, Social Solutions closes its Round A with a total of $2.75 million.

"Our investment in Social Solutions reflects our confidence in the company's ability to expand its customer base and further develop its technologies and services," said John Cambier, a partner with IDEA Fund.

Social Solutions will use the investment to expand its Efforts to Outcomes (ETO) Cities program helping social service agencies to coordinate their efforts and optimize their performance. Social Solutions ETO Software® provides a central platform that makes it possible to understand and manage the performance of point of service staff, individual agencies, and the community of services as a whole.

The first ETO City was launched in Hartford, Conn., where currently more than 160 employees across 11 agencies share, track and analyze data connected to strategic outcomes through ETO Software® to serve over 18,000 participants.

Following the success in Hartford as well as a recently launched ETO City initiative in Seattle, Social Solutions plans to expand its government sales teams to help build ETO cities nationwide. The additional investment from IDEA Fund will support this vision.

"IDEA Fund is actively partnering with us and establishing key connections to seed the ETO City vision in the Southeast," said Matt Schubert, CEO of Social Solutions. "We believe this investment sends a strong signal about our progress and potential and we look forward to building upon our successes in developing innovative approaches that meet the needs of those in the human service industry."

More than 2,500 nonprofit organizations currently rely on Social Solutions ETO Software® and accompanying professional services to better measure, plan and manage the effectiveness of their activities and ensure the greatest impact.

About Social Solutions and ETO Software®

Social Solutions challenges and equips human service providers and their funders to turn good intent into measurable change by relating efforts to outcomes. The company's ETO (Efforts to Outcomes) reporting software replaces one-size-fits-all data tracking with a reporting system tailored to the unique mission of each nonprofit organization. ETO Software® generates a clear and accurate measure of impact to improve service delivery, earn more funding, and reduce the time and resources dedicated to tracking performance.

About IDEA Fund Partners

IDEA Fund Partners provides equity financing and company building expertise to seed and early stage IT, materials technologies, and medical device companies. Located in North Carolina's Research Triangle Park, the firm works with companies in North Carolina as well as the Southeast and Mid-Atlantic regions.

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