NetLedger Secures $30 Million in Financing

Led by Oracle CEO Larry Ellison, the Round of Funding Shows Investor

Confidence in NetLedger



Apr 05, 2001, 01:00 ET from NetLedger, Inc.

    SAN MATEO, Calif., April 5 /PRNewswire/ -- NetLedger, Inc., the leader in
 Web-based solutions that streamline small businesses and help them succeed,
 today announced that it has secured $30 million of funding from its existing
 investors including Oracle CEO Larry Ellison and StarVest Partners L.P.
     Despite a difficult fund raising environment, NetLedger successfully
 closed the round needed to continue its growth strategy. "This funding will
 allow us to fulfill our promise to deliver the ultimate solution to small
 businesses and help them grow and succeed. Our combination of groundbreaking
 product, loyal customer base, innovative and dedicated staff along with
 continued investor confidence will solidify our leadership position in
 Web-based small business solutions," said Evan Goldberg, president and CEO of
 NetLedger, Inc.
     "NetLedger has proven successful in delivering the best Web-based small
 business system and expanding its customer base consistently and
 aggressively," said Larry Ellison, Oracle CEO. "I have tremendous confidence
 in NetLedger and I believe they will come out a winner."
     Consistent with NetLedger's growth strategy, the additional capital will
 help:  (a) develop the ultimate small business solution; (b) accelerate
 customer acquisition; and, (c) broaden NetLedger's distribution channels via
 strategic partnerships.
     NetLedger is built from the ground up using an open, scalable Internet
 architecture. Users can run NetLedger on all major browsers and operating
 systems, with anytime, anywhere access. Based on the Oracle 8i database,
 NetLedger delivers the power, reliability and security of enterprise-level
 accounting and business management solutions, combined with the ease of use of
 a small-business accounting and management package.
 
     About NetLedger
     Founded in 1998, NetLedger, Inc. is the leader in Web-based solutions that
 streamline small businesses and help them succeed. NetLedger's Web-based
 system includes accounting, online commerce, expense reporting, customer
 ordering, credit card processing, bill pay, and employee, customer and
 supplier remote access. NetLedger also provides enhanced, integrated solutions
 to small businesses through its strategic partnerships including Yahoo! Inc.,
 Automatic Data Processing Inc., OfficeMax, OneCore.com, Stamps.com, New
 England Business Service, Paytrust, and Innovative Merchant Solutions. For
 more information about NetLedger visit the Web site at www.netledger.com or
 call 800-NetLedger. NetLedger has recently won PC Magazine Editors' Choice
 Award, PC World Best Bet, Ziff Davis Smart Business MVP 2001 Award, and
 ASPNews.com Top 20 ASPs Award.
     NOTE:  NetLedger is a trademark of NetLedger, Inc.
 
 

SOURCE NetLedger, Inc.
    SAN MATEO, Calif., April 5 /PRNewswire/ -- NetLedger, Inc., the leader in
 Web-based solutions that streamline small businesses and help them succeed,
 today announced that it has secured $30 million of funding from its existing
 investors including Oracle CEO Larry Ellison and StarVest Partners L.P.
     Despite a difficult fund raising environment, NetLedger successfully
 closed the round needed to continue its growth strategy. "This funding will
 allow us to fulfill our promise to deliver the ultimate solution to small
 businesses and help them grow and succeed. Our combination of groundbreaking
 product, loyal customer base, innovative and dedicated staff along with
 continued investor confidence will solidify our leadership position in
 Web-based small business solutions," said Evan Goldberg, president and CEO of
 NetLedger, Inc.
     "NetLedger has proven successful in delivering the best Web-based small
 business system and expanding its customer base consistently and
 aggressively," said Larry Ellison, Oracle CEO. "I have tremendous confidence
 in NetLedger and I believe they will come out a winner."
     Consistent with NetLedger's growth strategy, the additional capital will
 help:  (a) develop the ultimate small business solution; (b) accelerate
 customer acquisition; and, (c) broaden NetLedger's distribution channels via
 strategic partnerships.
     NetLedger is built from the ground up using an open, scalable Internet
 architecture. Users can run NetLedger on all major browsers and operating
 systems, with anytime, anywhere access. Based on the Oracle 8i database,
 NetLedger delivers the power, reliability and security of enterprise-level
 accounting and business management solutions, combined with the ease of use of
 a small-business accounting and management package.
 
     About NetLedger
     Founded in 1998, NetLedger, Inc. is the leader in Web-based solutions that
 streamline small businesses and help them succeed. NetLedger's Web-based
 system includes accounting, online commerce, expense reporting, customer
 ordering, credit card processing, bill pay, and employee, customer and
 supplier remote access. NetLedger also provides enhanced, integrated solutions
 to small businesses through its strategic partnerships including Yahoo! Inc.,
 Automatic Data Processing Inc., OfficeMax, OneCore.com, Stamps.com, New
 England Business Service, Paytrust, and Innovative Merchant Solutions. For
 more information about NetLedger visit the Web site at www.netledger.com or
 call 800-NetLedger. NetLedger has recently won PC Magazine Editors' Choice
 Award, PC World Best Bet, Ziff Davis Smart Business MVP 2001 Award, and
 ASPNews.com Top 20 ASPs Award.
     NOTE:  NetLedger is a trademark of NetLedger, Inc.
 
 SOURCE  NetLedger, Inc.