Oracle NetSuite Corporate Communications
Led by Oracle CEO Larry Ellison, the round of funding shows investor confidence in NetLedger
San Mateo, CA—April 5, 2001—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 fulfil 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.
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