REPEAT/eRisks Raises $14.5 Million in Funding; Leading Enterprise Risk Management Provider Brings Cutting Edge Online Services to Risk Professionals.Business/Technology Editors REPEATING... NEW YORK--(BUSINESS WIRE)--June 27, 2000 eRisks, the market leader for fully-integrated enterprise risk management services, announced today it has secured $14.5 million in financing from investors including aventic AG (a subsidiary of UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System ), Risk Management Solutions, Inc., Katalyst Venture Partners I, LP, and Internet Finance Partners, LP. The funds will be used to accelerate eRisks' technology initiatives, advance the development of its product suite, round out the executive management team and promote eRisks' branding efforts. "Each of our new investors brings strategic value to eRisks as well as funding to drive our development," said James Lam, founder and president of eRisks, and former Chief Risk Officer at Fidelity Investments Fidelity Investments is a group of privately held companies in the financial services industry. It is made up by two independent but closely cooperating companies, Fidelity Management and Research Corporation (FMR Co. . "Together with relationships which will help our client and product strategies, our investors bring deep financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , risk management and Internet industry expertise. We see their involvement as a powerful endorsement of eRisks' business model and online enterprise risk management vision." Through the company's click- (www.eRisks.com) and-mortar (eRisks Consulting) based business, eRisks integrates a wide array of risk-related educational, analytical and transfer services, both on and offline. These include the leading risk industry portal delivering a daily news digest, risk management case studies, online risk analytics, benchmarking data and risk transfer solutions. eRisks services are focused on providing full-service enterprise risk management solutions to financial institutions, such as banks, insurers, and asset managers, and non-financial corporations such as energy companies. "eRisks has the vision, the people and the risk expertise to lead in the enterprise risk management Internet space," said John Fitzgerald, member of the eRisks Advisory Board and President of Katalyst, the Full Service Accelerator(TM) that has been helping to rapidly drive the development of eRisks' business and that has been managing its fundraising efforts. "As companies come under increasing pressure to maximize risk-adjusted returns to shareholders, they will turn to eRisks for its market-leading risk management solutions." About eRisks Launched in October 1999 as an e-venture of Oliver, Wyman & Company, a strategic consulting firm dedicated exclusively to the financial services industry, eRisks is the first full-service provider of enterprise risk management education, information and consulting services for risk management professionals. eRisks provides timely news, commentary, tools and analytics for mid- and senior-level risk managers at financial, insurance and other corporate institutions. For more information, go to the eRisks Web site at www.eRisks.com. The company, headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is privately held. About the Investors aventic AG aventic is a Swiss based venture fund wholly owned by UBS AG and managed by an independent company. aventic finances the growth and initial expansion of innovative small and medium sized enterprises geared towards the high tech sectors, such as Internet, biotechnology, software, and telecommunications. aventic also invests in start-ups as well as management buy-outs and buy-ins, again concentrating on small and medium sized enterprises. Investments in start-up phases are primarily done through specialized venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: . For more information about aventic AG, visit http://www.aventic.com. RMS Risk Management Solutions (www.riskinc.com) is the world's leading provider of products and services for the quantification and management of property catastrophe, natural hazard, and complex business risks. Its clients include leading insurers, reinsurers, industrial corporations, governments, and financial institutions. Founded at Stanford University in 1988, RMS employs over 500 people worldwide and is owned by DMG (Disk iMaGe) The file format used in the Macintosh for distributing Mac software. Mac install packages appear as a virtual disk drive on the Mac as if you had inserted a CD or floppy disk. Information, a division of the U.K.-based Daily Mail and General Trust Daily Mail and General Trust plc (DMGT) is one of the UK's largest media companies and has interests in national and regional newspapers, television and radio. While the majority of the company's activities are based in the UK, it does have worldwide operations. plc media enterprise. RMS, Oliver Wyman & Company, and eRisks are partners in the development of P&C RAROC RAROC Risk-Adjusted Return On Capital , Property & Casualty Risk Adjusted Return on Capital Risk adjusted return on capital (RAROC) is a risk based profitability measurement framework for analysing risk-adjusted financial performance and providing a consistent view of profitability across businesses. , a set of proprietary methodologies to assist Property and Casualty insurers and reinsurers in managing risk, capital and shareholder value across all risk types and activities. Katalyst Venture Partners I and Katalyst LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control Katalyst Venture Partners I is the Affiliated Venture Fund of Katalyst LLC. As the first Full Service Accelerator(TM) (FSA FSA Financial Services Authority FSA Food Standards Agency (UK) FSA Farm Service Agency (USDA) FSA Financial Services Agency (Japan) ), Katalyst LLC drives rapid growth and value creation for B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business and infrastructure Internet businesses through a unique combination of operational expertise, merchant banking and strategic venture capital. The firm accelerates portfolio companies through all aspects of planning and implementation to build successful and sustainable Internet businesses. In addition, firms being accelerated by Katalyst LLC may receive funding from Katalyst Venture Partners I. Katalyst, the first organization of its kind, leverages its proprietary Net Acceleration(TM) methodology to propel its portfolio companies from early stage funding through IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. . Headquartered in Philadelphia, Katalyst is a privately held firm. For more information about Katalyst, visit http://www.katalyst.com or call 610-975-0640. Internet Finance Partners Internet Finance Partners (IFP (1) (Intelligent Forms Processing) Using advanced techniques to scan documents and determine their data content. See ICR. (2) (Integer Factorization Problem) The difficulty of finding prime numbers in an encryption key. ) is a syndicate of strategic partners that invests in, manages and empowers a network of leading-edge Internet-based businesses in the global financial services sector. Backed by institutional leaders in capital markets, and innovators in electronic finance, IFP provides access to mission critical services in a disciplined and collaborative partnership structure. IFP transforms radical e-finance ideas into validated business models that encourage `disruptive innovation' in global financial services - ideas that will empower consumers and buyers, lower transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , improve efficiency, create new markets and restructure traditional ones. IFP prepares start-up ventures for launch and, for more developed concepts, breeds scalable businesses with Smart-Mover Advantage in global markets. IFP has development operations in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , London and San Francisco, and plans to expand into other global financial centers including Frankfurt, Hong Kong and Tokyo. For further information, refer to www.ifinancepartners.com. The eRisks logo is available for journalists to download at www.newstream.com. Registered journalists can access the story directly www.newstream.com. Registered journalists can access the story directly by going to http://www.newstream.com/cgi-bin/display_story.cgi?919. |
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