|
SAN MATEO, Calif. (March 5, 2002)- Elibrium, Inc., a leading provider
of productivity software and services, announced today the the company
has closed more than $2 Million in equity financing from investors led
by Next Level Management, a San Francisco-based investment company
focused on companies with proven business models. The investment
will be used to expand distribution of the company's small business
software globally, increase operational efficiencies, and release
annual enhancements to the company's award-winning MySoftware line.
Elibrium's management team identified three key objectives for
2002, including expansion into the international market, annual
product updates to coincide with major operating systems and partner
upgrades, and re-evaluation of operational strategies. Initial plans
for global distribution are underway in the United Kingdom and Australia,
with expansion into other European countries and Asia in 2003. In
order to meet the needs of customers, Elibrium recently upgraded
their top selling MySoftware titles with added functionality and
Microsoft Windows XP compatibility. As a result, sales of this product
line have increased 150-200 percent and Elibrium plans to capitalize
on future technology updates. The company has reduced expenses and
increased gross margin on all products by automating its supply
chain operations and re-locating to a new warehouse leased and operated
by Elibrium.
"When the management team purchased the assets of the Elibrium
division from ClickAction in June 2001, our plan was to focus on
our small business customers' needs and to set up the new company
to execute product enhancements, promotions, distribution and customer
support efficiently and accurately," said Christina Willett,
President and CEO. "According to this plan, we are now shipping
with greatly increased accuracy and on-time rates from our recently
opened warehouse. We expect our year-over-year operational expenditures
to decrease while our revenues increase. Our revenue-per-employee
remains among the highest in our industry."
"Our confidence in Elibrium's strategy and management team
is evident by our investment," said Eugene Wu, Partner of Next
Level Management. "The company has adapted to changing markets
over the years and now is well positioned to capitalize on the growing
small business market segment."
Elibrium was recently awarded a Lifetime Achievement Award by Staples
Inc. in recognition of its consistent ability to meet the needs
of their small business customers with quality software at great
prices. Staples is an $11 billion retailer of office supplies, business
services, furniture and technology to small business customers throughout
North America, United Kingdom, Germany, the Netherlands and Portugal.
About Elibrium
Based in San Mateo, California, Elibrium, Inc. provides productivity
software and services that simplify home and business life. For
over 14 years, customers have trusted Elibrium's leading brand,
MySoftware, to help grow their businesses cost effectively. Elibrium
empowers users by providing finance, direct mail, design, labeling
and information management tools to increase business efficiency
through the Internet, personal computers and handheld devices. Since
the introduction of its first title, the company has sold more than
20 million products. Elibrium's products and services are available
at more than 7,000 outlets including leading retailers Staples,
Office Depot, OfficeMax, Best Buy and CompUSA.
Elibrium was founded in 1987 as the MySoftware Company and went
public in 1995. The company changed its name to ClickAction in 1998
marking its expansion into the email-marketing arena. The legacy
software division was renamed Elibrium, reflecting its newest Internet-based
applications. In June 2001, the management team of Elibrium completed
a buyout of the division, giving birth to Elibrium, Inc. a privately
owned company led by CEO and President Christina Willett. More information
on Elibrium, its partners, products and services is available at
www.avanquestusa.com. |
