EASi Raises $5 Million to Fund Growth and Product Innovation
PLEASANTON, Calif., Oct. 1, 2012 /PRNewswire/ -- Equity Administration Solutions, Inc. (EASi), the largest independent stock plan software company in the world today announced the closing of its $5 million Series D round of financing and $7.5 million in additional financing commitments. This funding will be used by EASi to expand its market presence globally and continue delivering innovative new capabilities to clients.
"Managing equity compensation is fraught with risk, exposure and manual processes that we help our clients automate, " said Carine Schneider, EASi's Chief Executive Officer. "EASi's growth continues to accelerate because we are solving increasingly complex regulatory, compliance, administration and tax challenges for the largest US issuer companies. The innovation and automation we bring to stock plan record keeping, accounting and reporting keeps our mission-critical solution in high demand."
EASi's investors recognize the opportunities that come from funding a pure-play software as a service (SaaS) provider with technology built on a single code base, using multi-tenant architecture to meet the increasingly complex needs of large and small multinational corporations. EASi has delivered a 53% compounded annual growth rate over the past four years, despite the economic downturn. In addition, EASi has earned its industry leadership position by enabling corporations and leading brokerage firms to meet their clients' complex regulatory and compliance needs with confidence. EASi is uniquely positioned to allow public company clients to maintain their existing broker-dealer relationships while benefitting from its best-in-class software solution for equity administration.
Equity Administration Solutions, Inc. www.easiadmin.com is the largest independent stock plan software technology company in the world. EASi enables clients to work with the broker of their choice so they can benefit from the best trading execution and wealth management solutions. EASi's technology provides connectivity to the largest broker-dealers in the world. A SaaS company, EASi set the standard in stock plan solutions with its comprehensive industrial strength platform that handles all the accounting, tax, administration, participant services and compliance needs of companies that grant equity awards. Headquartered in Pleasanton, CA, EASi serves more than 750 companies on five continents in over 20 countries and continues to lead the industry with second-to-none solutions in areas including ASC718 (FAS123R), IFRS2, Performance Awards, material modifications and WorkStream process automation. In 2011, EASi was ranked 174th on Deloitte's Technology Fast 500™, the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America.
Jennifer Lopez, EASi
SOURCE Equity Administration Solutions, Inc.