Capital to be used for Accelerating Product Development and Sales Efforts
NEW YORK, NY -- December 27, 2001 -- Axioma, Inc., the leading provider of advanced decision support applications for the financial services industry, today announced that it has successfully closed a second round of angel financing bringing the total investment secured by the Company to $2.1 million. Two separate groups of angel investors from New York, NY and Pittsburgh, PA participated in the investment, led by a team from Columbia University's Graduate School of Business. Axioma will use this new funding to accelerate product development and expand sales and marketing efforts.
"We were quite pleased to secure this investment in 2001, which was by all measures a difficult time for young companies seeking funding," said Sebastian Ceria, Ph.D., Axioma's founder, President and CEO. "What makes this investment even more meaningful is that it comes from a group that is knowledgeable about the financial markets and understands trends in the industry. The investment, coupled with recent client acquisitions, serves to validate our vision of building a line of superior decision support tools for the financial community."
Professor Matthew Rhodes-Kropf, lead investor for the round stated, "Dr. Ceria's vision and experience make Axioma a truly exciting company. We feel that Axioma is on-target in identifying the need for better decision-support applications for the financial services community." Early versions of Axioma's portfolio management application, PortfolioPrecision, have been in use at several leading securities firms for over a year.
About Axioma
Axioma Inc. provides optimization-based decision-support software and consulting services. Since its launch in 1998, Axioma has helped Fortune 500 clients find optimal solutions to their complex business problems. The culmination of more than a decade of successful optimization research and development experience, Axioma's offerings blend cutting-edge optimization technology with expert consulting services to deliver results-driven client solutions for the financial services industry.
For more information about Axioma and decision-support solutions for the financial services industry, please call (800) 558-7983 or visit the company's web site at www.axiomainc.com.
