iLevel Solutions Secures $6 Million in Funding and Completes Spin-out from The Blackstone Group (NYSE: BX)

NEW YORK, July 12 /PRNewswire/ -- iLevel Solutions, a leading provider of private equity software and reporting solutions, today announced the closing of a $6 million round of funding led by Egis Capital Partners, Swift River Investments, and Epiphany Ventures.

The funding will be used to support the continued development of iLevel's suite of software products focused on the Alternative Investment Management market, along with the expansion of business development, sales and marketing activities. iLevel's flagship product, The Portfolio Company Reporting System (PCRS), is an integrated solution that enables private equity firms, venture capital and other direct investment managers to monitor the financial and operational health of their portfolio companies.  

iLevel was established in January, 2009 as a technology spin-out from The Blackstone Group (NYSE: BX) in order to commercialize a number of proprietary technology solutions developed at Blackstone.  "The PCRS platform was originally developed internally by Blackstone five years ago to establish a structured process to automate and streamline the collection, analysis and reporting of portfolio company data for the firm's private equity portfolio," stated Harry Moseley, Senior Managing Director and Chief Information Officer of The Blackstone Group.  "Blackstone had invested substantial time and money into the development of PCRS which we believe can provide tremendous value to the alternative investment industry far beyond deployment within Blackstone.  With iLevel's new investors and ownership, Blackstone has fulfilled its commitment to establish iLevel as an independent company focused on developing strategic solutions for our industry."

The typical process of collecting, managing and analyzing data across portfolio investments is manual, complex, labor-intensive, and prone to errors and misinterpretation of critical information.  Through the use of PCRS, investment professionals are able to access critical fund and portfolio investment data along with key financial and operating metrics with ease and speed. Information is available through flexible Excel dashboards which leverage data stored in the underlying PCRS relational database, pre-defined reports and user-defined analytics for instant insight into critical metrics.  With PCRS, the focus of finance resources, analysts and deal teams shifts from data collection to analysis, reporting, risk mitigation and investing in new opportunities.

"iLevel Solutions provides a comprehensive technology platform that has already delivered substantial value to a number of the world's leading private equity funds and their limited partners," stated Robert Chefitz, Managing General Partner of Egis Capital Partners. "iLevel's combination of proven technology and domain expertise in the alternative investment market has fueled its early growth and adoption.  This investment will help the company continue to solidify its position as a leader in portfolio analysis and reporting through deeper business alliances, innovative application development, and aggressive expansion."

"In today's increasingly dynamic business climate, private equity professionals and limited partners alike require rapid access to high quality investment metrics, performance information and actionable analysis," stated David James, Managing Partner of Swift River Investments.  "iLevel's PCRS platform is a breakthrough for private equity firms looking to achieve greater visibility into their investments while providing greater transparency, speed, and frequency of reporting to their investors."

"We are delighted to have the support of these accomplished and highly respected investment groups to drive the next phase of iLevel's aggressive growth plans," said Rick Kushel, CEO of iLevel Solutions. "We evaluated a number of different financing alternatives and sought to partner with these organizations for their experience in working with emerging companies with strong growth potential and their deep understanding of the alternative investment market."

About iLevel Solutions

iLevel Solutions' flagship offering, the Portfolio Company Reporting System (PCRS) is an innovative, highly secure Software-as-a-Service technology platform that automates the collection, storage, collaboration, analysis, and reporting of portfolio data.  PCRS provides the seamless platform that integrates all information for GPs and LPs to monitor investments, prepare and report valuations, and exchange information. This comprehensive, end-to-end platform serves as the backbone to completely integrate reporting, analytical tools, and dynamic information sharing, and includes components for Private Equity, Real Estate, Debt, and LP Reporting.  For more information, please visit www.ilevelsolutions.com.

SOURCE iLevel Solutions