New York, March 29, 2001 - Reval.com, Inc., a web based Treasury Management Application Service Provider ("ASP") has secured its second institutional round of financing, led by Dallas-based investor Tobat Capital LLC. The Company plans to enhance sales and marketing of its recently launched services and to continue product development with the new funds.
Reval.com, Inc., founded in May of 1999 by Jiro Okochi and Woo Song, offers an affordable web-based solution that assists companies in managing their hedging activities in accordance to the new, highly complex requirements for hedge accounting of derivative instruments as defined by the Financial Accounting Standards Board (FAS 133/138). Reval's powerful FAS133 module, along with its user-friendly compliance tool, the FAS 133 Doctor™ was designed and developed with the assistance of PriceWaterhouseCoopers.
"We are very excited to work with Tobat Capital and will take this opportunity to make an aggressive push at selling our services" says CEO and Co-Founder, Jiro Okochi. "The fact that we were able to raise new capital in this challenging investment environment is a testament to our ability to execute a viable business model," adds Dino Ewing, CFO and E.V.P of Reval.com, Inc.
Tobat Capital LLC, based in Dallas, Texas, focuses on the insurance and financial services sectors. "We believe that Reval's ASP solution offers a unique solution to all companies involved in financial risk management or hedging activities. We have been impressed not only with Reval's technology, but also the significant client relations it has established over the past six months" notes Ian Packer, General Partner of Tobat Capital. Mr. Packer will be joining the Reval Board of Directors.
About Tobat Capital, LLC.
Tobat Capital, LLC is a venture capital investor based in Dallas Texas. Tobat's e-Financial Ventures Fund concentrates on early stage technology investments in companies committed to streamlining distribution and restructuring operating relationships within the financial services and insurance industries. For more information please visit www.tobatcapital.com
For more information, visit www.reval.com or email firstname.lastname@example.org.
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