Subj: ASP Leader eOnline, Inc. Secures $60 Million in 3rd...
Date: 6/5/00 2:48:15 PM Pacific Daylight Time
From: AOL News
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ASP Leader eOnline, Inc. Secures $60 Million in 3rd Round of Financing
CUPERTINO, Calif.--(BUSINESS WIRE)--June 5, 2000--
Morgan Stanley Dean Witter Private Equity, Trident Capital, GM
Investment Management, and meVC Draper Fisher Jurvetson Fund I
Finance eOnline's Continued Market Traction
eOnline, Inc., the leading enterprise application service provider (ASP), today announced it has completed its third round of financing, totaling $60 million in private equity capital.
The group of institutional investors, led by Morgan Stanley Dean Witter Private Equity, includes Trident Capital, a returning investor, GM Investment Management, and meVC Draper Fisher Jurvetson Fund I.
eOnline will employ the capital raised to intensify its tremendous market traction for attaining clients. The company will continue to enhance its offerings through strategic acquisitions and partnerships, expand its data centers, hire additional top industry professionals to design world-class business software and technology solutions, develop joint delivery capabilities with leading implementation providers, and invest in branding and marketing programs.
Since its inception only one year ago, eOnline has established itself and has been recognized by SAP America, Inc. as an SAP ASP market leader. The company has attained 26 SAP clients, ranging from market leading e-businesses to Fortune 1000 organizations across a wide range of vertical industries. eOnline is currently hosting applications that support a total of more than 10,000 registered users in 58 countries.
"We are very proud to have investors from such prominent organizations for this round of financing," said Adrian Ionel, CEO and president of eOnline, Inc. "The funding will allow eOnline to get closer to realizing its vision of making enterprise software delivered over the Internet or private networks as popular for companies worldwide as Internet access and e/mail."
"eOnline's unique ASP offering and delivery engine has allowed the company to capture market share and lead the industry in a very short amount of time," said Bob Loarie, managing director at Morgan Stanley Dean Witter Private Equity. "eOnline has distinguished itself from other ASPs with a compelling value proposition and an unmatched delivery track record."
About eOnline, Inc.
eOnline delivers leading enterprise business applications in a managed environment to provide end-to-end eBusiness solutions. Clients receive the highest quality service and expertise for rapid deployment of eCommerce, business-to-business and enterprise applications solutions that are tailored and industry-specific. Founded in 1999 and led by a management team of top industry professionals, eOnline is committed to providing companies of all sizes with world-class eBusiness solutions through guaranteed service level agreements and at a price point previously unavailable. With the largest and fastest growing client base, eOnline is SAP certified and leads the market for SAP solutions in the application service provider (ASP) model. For more information contact eOnline's website at www.eOnlineinc.com. eOnline, Inc. -- The ASP for Market Leaders.
Note to Editors: eOnline is a trademark of eOnline, Inc. SAP and all SAP product and service names herein are trademarks or registered trademarks of SAP AG. Other product and company names herein may be trademarks of their respective owners.
CONTACT:
eOnline, Inc.
Kate Murphy, 408/861-1342
kmurphy@eOnlineinc.com
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