Social Solutions Secures Additional Funding to Close Round A With a Total of $2.75 Million

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Thu Apr 17, 2008 10:04am EDT

  BALTIMORE, MD, Apr 17 (MARKET WIRE) -- 
 Social Solutions, a leading provider of performance management technology
to the nonprofit sector, announced today that it has received additional
funding from IDEA Fund Partners.  With this funding and an initial investment
by WWC Capital Group, Social Solutions closes its Round A with a total of $2.75
million.

    "Our investment in Social Solutions reflects our confidence in the company's
ability to expand its customer base and further develop its technologies and
services," said John Cambier, a partner with IDEA Fund.

    Social Solutions will use the investment to expand its Efforts to Outcomes
(ETO)
Cities program helping social service agencies to coordinate their efforts and
optimize their performance.  Social Solutions ETO Software(R) provides a central
platform that makes it possible to understand and manage the performance of
point of service staff, individual agencies, and the community of services as
a whole.

    The first ETO City was launched in Hartford, Conn., where currently more
than
160 employees across 11 agencies share, track and analyze data connected to
strategic outcomes through ETO Software(R) to serve over 18,000 participants.

    Following the success in Hartford as well as a recently launched ETO City
initiative in Seattle, Social Solutions plans to expand its government sales
teams
to help build ETO cities nationwide. The additional investment from IDEA Fund
will
support this vision.

    "IDEA Fund is actively partnering with us and establishing key connections
to seed
the ETO City vision in the Southeast," said Matt Schubert, CEO of Social
Solutions.  "We believe this investment sends a strong signal about our
progress and potential and we look forward to building upon our successes in
developing innovative approaches that meet the needs of those in the human
service industry."

    More than 2,500 nonprofit organizations currently rely on Social Solutions
ETO
Software(R) and accompanying professional services to better measure, plan and
manage the effectiveness of their activities and ensure the greatest impact.

    About Social Solutions and ETO Software(R)

    Social Solutions challenges and equips human service providers and their
funders to turn good intent into measurable change by relating efforts to
outcomes.  The company's ETO (Efforts to Outcomes) reporting software replaces
one-size-fits-all data tracking with a reporting system tailored to the unique
mission of each nonprofit organization. ETO Software(R) generates a clear and
accurate measure of impact to improve service delivery, earn more funding, and
reduce the time and resources dedicated to tracking performance.

    About IDEA Fund Partners

    IDEA Fund Partners provides equity financing and company building
expertiseto seed and early stage IT, materials technologies, and medical device
companies. Located in North Carolina's Research Triangle Park, the firm works
with companies in North Carolina as well as the Southeast and Mid-Atlantic
regions.

    

Media Contacts:
Courtney Gidner
DBC Public Relations
(202) 292-4570
courtney@dbcpr.com

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