Saturday, October 11, 2008

Equity Administration Solutions sells industrial-strength stock plan has closed $3.5 million

What Company Is Offering:
Equity Administration Solutions, Inc. sells industrial-strength stock plan expensing software designed to handle the accounting, tax and administration needs of companies that grant equity awards.

How Much They Got From VCs:

Equity Administration Solutions, Inc. (EASi), announced that it has closed $3.5 million in Series C equity financing to support rapid company growth and product enhancements that position the company's flagship stock option accounting software for continued success.

"Sales have doubled since last year," reported Vito Palmieri, CEO of EASi, "with more customers switching to EASi from their legacy systems and spreadsheet solutions." Palmieri explained that with such robust sales the company is now cash flow positive and has become the leading independent software company in the industry. "We continue to design our product to meet the needs of customers today and anticipate the support they will need to accommodate changing regulations and equity compensation trends."

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