Octavian Secures $10 Million in Series B Funding Led by Vertex Venture Capital

Additional Funding to be Used to Further Strengthen Sales and Marketing

Efforts and Software Development



10 Oct, 2007, 01:00 ET from Octavian Ltd

    BOSTON, Massachusetts, October 10 /PRNewswire/ -- Octavian, a leading
 provider of Separately Managed Account (SMA) solutions in the Wealth and
 Investment Management (WIM) industry, today announced the completion of a
 $10 million, second round of investment led by Vertex Venture Capital,
 together with Carmel Ventures and Gemini Israel Funds, Octavian's existing
 investors. Following the closing of the investment, Elisheva Yakobovich,
 Partner at Vertex Venture Capital joined Octavian's Board of Directors.
     The funding will help Octavian accelerate its sales and marketing
 activities as well as product development, to provide extended solutions to
 the fast growing Wealth and Investment Management (WIM) market. Octavian is
 focused on helping the Wealth Management Industry grow and collaborate with
 the servicing of managed account products. Analysts predict that the
 managed account industry will grow to $ 3 trillion in assets under
 management by 2011.
     Octavian, founded in late 2004, develops and markets solutions for the
 Wealth and Investment Management markets. Octavian simplifies the
 management and oversight of investment services for multi-platform
 financial service organizations. Octavian's revolutionary Financial
 Information Rationalization Engine (FIRE) platform sits at the core of
 Octavian's cutting edge revenue management system, reporting reconciliation
 and data consolidation solutions for the WIM market with support to the
 DTCC Managed Account Connectivity.
     "We are pleased to announce the closing of our investment into
 Octavian" said Elisheva Yakobovich, Partner at Vertex Venture Capital. "We
 see a growing demand for various solutions to automate processes such as
 billing, client reporting and connectivity, which are becoming more and
 more complex as the services offered by sponsors and asset managers to the
 mass market are becoming more sophisticated". "We believe that Octavian has
 many attributes which will bring great success - a highly seasoned team
 with deep domain knowledge, targeting a market with significant potential
 and experienced investors with a proven track record of investments in the
 financial technology sector - Carmel and Gemini". "This is the second
 investment for Vertex in the area of financial technology. Vertex and
 Carmel recently exited their early stage investment into Actimize, a world
 leader in the field of brokerage compliance, Anti Money Laundering and
 Financial Fraud detection and prevention, which was acquired by Nice
 Systems (Nasdaq:   NICE) for $280 million. We see further opportunities for
 Israeli companies to become market leaders in various sub sectors of the
 financial technology market. We also believe that Octavian is positioned
 well to become yet another success story".
     "The new funds will enable us to expand faster into our target markets,
 accelerate our product development and extend the services and capabilities
 to meet the demands of our growing number of customers," said Moshe Barnes
 EVP and founder of Octavian. "It is a tremendous vote of confidence for
 Octavian that Vertex Venture Capital joined our existing investors Carmel
 and Gemini, and we are excited to be backed by such investors while working
 on this thrilling development in the WIM space. Octavian is uniquely
 positioned to be the leading provider of integrated solutions and services
 for the WIM industry."
     About Octavian
     Octavian provides best-of-breed technology solutions to the wealth and
 investment management industry. Octavian's rapidly expanding suite of
 technology products include fee billing and revenue management, data
 aggregation and enterprise reporting solutions, and workflow management
 applications for the DTCC Managed Accounts Service. The company's solutions
 are also sold in a Software-as-a-Service (SaaS/ASP) business model.
 Octavian is a privately-held firm backed by three top-tier venture capital
 funds. The company is headquartered in Woburn, Massachusetts, has an office
 in Tel Aviv, Israel, and has a presence in the New York City, Boston,
 Denver, and Charlotte metro areas for sales and customer support. For more
 information please visit http://www.octavian-tech.com
     About Vertex Venture Capital
     Vertex Venture Capital is a unique top-tier Israeli VC with $600
 million under management, a strong international investor base, an
 experienced multi-disciplinary team of professionals and an impressive
 track record of exits through M&A and IPO. Vertex provides unparalleled
 possibilities for companies in facilitating potential growth, business
 opportunities and leveraging synergies throughout Israel, Europe, USA,
 Japan and Asia. Vertex invests in Israeli and Israel-related companies in
 early stages of development in information networking and communications
 systems, software and components, digital media and enterprise software.
 For more information, please visit: http://www.VertexVC.com
     About Carmel Ventures
     Founded in 2000 by pioneers and leaders of the Israeli high tech
 industry, Carmel Ventures, with $372 million under management, is one of
 Israel's leading venture capital funds focused on information technology
 investments. Led by former entrepreneurs and executives of the software,
 communications and investment industries, Carmel provides active, hands-on
 support to its portfolio companies. Carmel headquartered in Herzliya,
 Israel enjoys a worldwide network of industry, strategic and investment
 resources. Carmel provides significant capital and support through the
 growth cycle of its portfolio companies and is recognized as a true company
 building fund in Israel. For more information, please visit:
 www.carmelcentures.com
     About Gemini
     A pioneer in Israel's venture capital industry, Gemini Israel Funds has
 grown to be the leading Israeli seed and early stage fund in the
 Information Technology arena. The firm, founded in 1993, manages $550
 million in four funds. Investments are focused on the areas of
 Communications and Wireless Technologies, Enterprise Software, Internet,
 Consumer Electronics and Semiconductors, and more recently in Greentech.
 Through offices in Israel and Silicon Valley, Gemini offers portfolio
 companies with access to top-tier U.S. based investors and a global network
 of corporate partners. As investment professionals, Gemini's key
 contributions include an ability to make daring investment decisions and
 the capability to utilize past operational experience in assisting
 portfolio companies. Past successes include: Allot, Mellanox, Saifun,
 Precise, Butterfly, Commtouch, Ornet, Verisity, Jacada, Ceragon, Riverhead,
 nLayers and others. For more information, please visit
 http://www.gemini.co.il
     Contacts:
 
     Hila Freiman-Kareev
     VP Marketing and Business Development
     Tel: +972-3-6931826; +972-54-4527338
     e-mail: Hila.Kareev@octavian-tech.com
 
     Sharon Lewis
     Investor Relations and Marketing Manager
     Tel: +972-3-737-8888
     e-mail: Sharon@vertexvc.com
 
 

SOURCE Octavian Ltd
    BOSTON, Massachusetts, October 10 /PRNewswire/ -- Octavian, a leading
 provider of Separately Managed Account (SMA) solutions in the Wealth and
 Investment Management (WIM) industry, today announced the completion of a
 $10 million, second round of investment led by Vertex Venture Capital,
 together with Carmel Ventures and Gemini Israel Funds, Octavian's existing
 investors. Following the closing of the investment, Elisheva Yakobovich,
 Partner at Vertex Venture Capital joined Octavian's Board of Directors.
     The funding will help Octavian accelerate its sales and marketing
 activities as well as product development, to provide extended solutions to
 the fast growing Wealth and Investment Management (WIM) market. Octavian is
 focused on helping the Wealth Management Industry grow and collaborate with
 the servicing of managed account products. Analysts predict that the
 managed account industry will grow to $ 3 trillion in assets under
 management by 2011.
     Octavian, founded in late 2004, develops and markets solutions for the
 Wealth and Investment Management markets. Octavian simplifies the
 management and oversight of investment services for multi-platform
 financial service organizations. Octavian's revolutionary Financial
 Information Rationalization Engine (FIRE) platform sits at the core of
 Octavian's cutting edge revenue management system, reporting reconciliation
 and data consolidation solutions for the WIM market with support to the
 DTCC Managed Account Connectivity.
     "We are pleased to announce the closing of our investment into
 Octavian" said Elisheva Yakobovich, Partner at Vertex Venture Capital. "We
 see a growing demand for various solutions to automate processes such as
 billing, client reporting and connectivity, which are becoming more and
 more complex as the services offered by sponsors and asset managers to the
 mass market are becoming more sophisticated". "We believe that Octavian has
 many attributes which will bring great success - a highly seasoned team
 with deep domain knowledge, targeting a market with significant potential
 and experienced investors with a proven track record of investments in the
 financial technology sector - Carmel and Gemini". "This is the second
 investment for Vertex in the area of financial technology. Vertex and
 Carmel recently exited their early stage investment into Actimize, a world
 leader in the field of brokerage compliance, Anti Money Laundering and
 Financial Fraud detection and prevention, which was acquired by Nice
 Systems (Nasdaq:   NICE) for $280 million. We see further opportunities for
 Israeli companies to become market leaders in various sub sectors of the
 financial technology market. We also believe that Octavian is positioned
 well to become yet another success story".
     "The new funds will enable us to expand faster into our target markets,
 accelerate our product development and extend the services and capabilities
 to meet the demands of our growing number of customers," said Moshe Barnes
 EVP and founder of Octavian. "It is a tremendous vote of confidence for
 Octavian that Vertex Venture Capital joined our existing investors Carmel
 and Gemini, and we are excited to be backed by such investors while working
 on this thrilling development in the WIM space. Octavian is uniquely
 positioned to be the leading provider of integrated solutions and services
 for the WIM industry."
     About Octavian
     Octavian provides best-of-breed technology solutions to the wealth and
 investment management industry. Octavian's rapidly expanding suite of
 technology products include fee billing and revenue management, data
 aggregation and enterprise reporting solutions, and workflow management
 applications for the DTCC Managed Accounts Service. The company's solutions
 are also sold in a Software-as-a-Service (SaaS/ASP) business model.
 Octavian is a privately-held firm backed by three top-tier venture capital
 funds. The company is headquartered in Woburn, Massachusetts, has an office
 in Tel Aviv, Israel, and has a presence in the New York City, Boston,
 Denver, and Charlotte metro areas for sales and customer support. For more
 information please visit http://www.octavian-tech.com
     About Vertex Venture Capital
     Vertex Venture Capital is a unique top-tier Israeli VC with $600
 million under management, a strong international investor base, an
 experienced multi-disciplinary team of professionals and an impressive
 track record of exits through M&A and IPO. Vertex provides unparalleled
 possibilities for companies in facilitating potential growth, business
 opportunities and leveraging synergies throughout Israel, Europe, USA,
 Japan and Asia. Vertex invests in Israeli and Israel-related companies in
 early stages of development in information networking and communications
 systems, software and components, digital media and enterprise software.
 For more information, please visit: http://www.VertexVC.com
     About Carmel Ventures
     Founded in 2000 by pioneers and leaders of the Israeli high tech
 industry, Carmel Ventures, with $372 million under management, is one of
 Israel's leading venture capital funds focused on information technology
 investments. Led by former entrepreneurs and executives of the software,
 communications and investment industries, Carmel provides active, hands-on
 support to its portfolio companies. Carmel headquartered in Herzliya,
 Israel enjoys a worldwide network of industry, strategic and investment
 resources. Carmel provides significant capital and support through the
 growth cycle of its portfolio companies and is recognized as a true company
 building fund in Israel. For more information, please visit:
 www.carmelcentures.com
     About Gemini
     A pioneer in Israel's venture capital industry, Gemini Israel Funds has
 grown to be the leading Israeli seed and early stage fund in the
 Information Technology arena. The firm, founded in 1993, manages $550
 million in four funds. Investments are focused on the areas of
 Communications and Wireless Technologies, Enterprise Software, Internet,
 Consumer Electronics and Semiconductors, and more recently in Greentech.
 Through offices in Israel and Silicon Valley, Gemini offers portfolio
 companies with access to top-tier U.S. based investors and a global network
 of corporate partners. As investment professionals, Gemini's key
 contributions include an ability to make daring investment decisions and
 the capability to utilize past operational experience in assisting
 portfolio companies. Past successes include: Allot, Mellanox, Saifun,
 Precise, Butterfly, Commtouch, Ornet, Verisity, Jacada, Ceragon, Riverhead,
 nLayers and others. For more information, please visit
 http://www.gemini.co.il
     Contacts:
 
     Hila Freiman-Kareev
     VP Marketing and Business Development
     Tel: +972-3-6931826; +972-54-4527338
     e-mail: Hila.Kareev@octavian-tech.com
 
     Sharon Lewis
     Investor Relations and Marketing Manager
     Tel: +972-3-737-8888
     e-mail: Sharon@vertexvc.com
 
 SOURCE Octavian Ltd