Tech Startup AboutOne Announces Additional Participation in Oversubscribed Series A Funding

PHILADELPHIA, Dec. 19, 2011 /PRNewswire/ -- AboutOne (http://www.AcornPoints.com), the online organizer that makes it fast, fun, and easy to preserve family memories and manage household information, today announced that the company received funding from the Mid-Atlantic Angel Group in its oversubscribed Series A financing round. This is in addition to the previously announced $1.6 million funding led by Golden Seeds, a network of angel investors dedicated to investing in early stage companies founded and led by women.

"We are pleased to note new participation by the Mid-Atlantic Angel Group and delighted that we are now in the enviable position of being oversubscribed in this round," said Joanne Lang, founder and CEO of AboutOne. "MAG was created to provide capital to early-stage, technology-based, high-growth companies, and this financing is an important endorsement of the value AboutOne will deliver to our customers and partners."

AboutOne has leveraged this funding round with Microsoft and Suze Orman (IDSafe) partnerships to launch a new version based on feedback from the company's current customers. The CES MommyTECH Summit's (http://mommytechsummit.com/) "Cool Products for Moms" exhibit will be the venue for the company's private beta launch of the new AboutOne with AcornPoints (http://www.AcornPoints.com) rewards program, one of many enhancements to its new calendar and contacts-based family management system. Lang will be speaking at the conference on the topic of "Moms as CEO of the Household."

"MAG is very excited about the AboutOne investment. The company has developed an entirely new data model, reflecting not only how families manage their information but also how they think about it. This mirrors the reality of daily life more than any other platform on the market. We are delighted to work with the investor syndicate, led by Golden Seeds, as the first local angel institution participating from Philadelphia," says MAG Executive Director Karen Griffith Gryga.

AboutOne was recently featured in Microsoft's documentary, CTRL+ALT+COMPETE (http://www.facebook.com/CtrlAltCompete), which premiered at the Napa Valley Film Festival. The film follows Lang as she faces the challenges of making her vision for AboutOne a reality and is based on the premise that what startup founders deliver is reshaping the way people live their lives every day.

This is particularly true of Lang. "AboutOne was created from my direct experiences as a mother of four children," said Lang. "While I had Facebook for friends and LinkedIn for business, there was nothing in the middle to smoothly manage my home life."

According to AboutOne's first Board Member Harald Stuckert, CEO of pontus mc and former SAP executive, "From my earliest days developing software, it's been my belief that software should not be developed primarily to benefit companies or governments, but rather for people in their daily lives. I knew Joanne at SAP, have followed AboutOne's progress, and am delighted to be part of an organization committed to improving the 'business of running a family.'"

AboutOne
AboutOne's new release (http://www.acornpoints.com/) is the fast, easy way to organize your busy life.

Designed to make getting organized virtually effortless for the user, AboutOne:

• saves time by making customers' existing Google, iCal, or Outlook calendar/contact tools more useful.
• pays customers in gift cards from their favorite sites for achieving their organization goals.
• gives customers peace of mind with third party privacy audits and bank-level security.

Mid-Atlantic Group
The Mid-Atlantic Angel Group II, LP was created to provide capital to seed and early-stage, technology-based, high-growth companies. Fund members consists of investors interested in realizing a high return on invested capital in Regional technology companies and being a key part of Regional growth. http://www.magfund.com/

Golden Seeds
Golden Seeds is an investment firm dedicated to delivering above market returns for investors through the empowerment of women entrepreneurs. Its Angel Forum, consisting of approximately 200 investors, is the fourth largest in the US, and its second fund, which has invested in AboutOne, closes in December. http://www.goldenseeds.com

AboutOne:
Katrine Kubis
801.797.9333
[email protected]

MAG:
Karen Griffith Gryga
215.972.6700 x306
[email protected]

Golden Seeds:
Lou Peralta
888.308.4781
[email protected]

This press release was issued through eReleases(R).  For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE AboutOne.com