Plymouth Meeting, PA (PRWEB) December 8, 2005
Expensewatch.com, the market and technology leader in OnDemand expense control and compliance (ECC), today announced the finalization of three significant angel investments from private sources including Explorer, LLC, Ariba Executive, Paul Melchiorre and Investment Banker, Richard Hansen.
Paul Melchiorre, Ariba Exec and former SAP pioneer, was among the first to express interest in the promising OnDemand company.
“Expensewatch.com, though only in their 5th year, has already built a reputation for innovation and superior service in the market of OnDemand technology. My confidence in the future of expensewatch.com is enough to warrant a substantial personal investment and I firmly believe they are presently becoming one of the OnDemand’s leading providers.”
Melchiorre’s impressive track record, professionally and financially, in the market of emerging web-based technologies adds clout to his endorsement of the start-up company. “With Paul’s experience in developing other web-based tech firms, we are pleased he is backing expensewatch.com with such an ample personal investment,” stated Todd Palmieri, expensewatch.com CEO and President.
Investment Banker and former Kidder Senior Financial Executive, Richard Hansen, was the second private investor to seek out the firm and offer a sizable investment. Having taken over 150 companies public, Hansen has honed an ability to seek out promising young companies to invest his money into. Expensewatch.com is one such talented firm and is aptly positioned in the right market at the right time.
The third round of funding came to expensewatch.com from Explorer, LLC after a related company tried the expensewatch.com product and was so impressed by it, they bought into the firm.
“Investment in the sphere of OnDemand technology is presently enjoying a surge the software market hasn’t seen since the ‘.com’ boom and the offers are coming in faster than we can turn them down. Running a financially secure company at the cusp of the OnDemand Revolution is a place every CEO wants to be, “stated Palmieri, expensewatch.com CEO and former CFO of MIM Corp.
With such rapid growth in this sphere, the analyst community is beginning to take notice.
"Going forward, the company is not only well funded, but they are well positioned to capitalize on the markets continuing shift to web-based software for business process redefinition. Expensewatch.com is strategically poised to deliver outstanding value to their clients and capture a growing share of the markets for compliance and expense management," stated Henry Ijams, Managing Director and Senior Financial Advisor, Paystream Advisors.
Expensewatch.com provides OnDemand Expense Control and Compliance Services (ECC) designed to enable organizations of any size to become SOX Compliant. The company’s suite of web-based applications helps customers to manage Purchasing, T&E and A/P Workflow via the internet from anywhere, anytime. Expensewatch.com is presently implemented in over 81 companies in 11 countries around the globe. To learn more about how expensewatch.com can meet your unique business needs, visit http://www.expensewatch.com.