SAN FRANCISCO, DENVER and BOSTON, June 12, 2008 - SVB Analytics' unit eProsper, a leading provider of corporate equity management solutions, announced improvements to its equity management software product, CapMx, today. As one of the most widely used equity management solutions on the market, CapMx helps private companies, their investors and their law firms easily track and analyze corporate securities while meeting complicated reporting and compliance requirements. eProsper is majority owned by SVB Analytics, which also provides fair market company valuations for private, venture capital-backed companies.
"We acquired eProsper, a market leader, in August 2006 to help our clients simplify the management of their equity ownership information," said Jim Anderson, president of SVB Analytics, a part of SVB Financial Group. "We understand the regulatory pressures on CFOs and make CapMx available to help ensure compliance with difficult standards. Since our acquisition of eProsper the number of companies on the system has more than doubled."
More than 1,400 private, venture-backed companies benefit from CapMx with corporate equity management, reporting and FAS 123R accounting in one software package. It streamlines record keeping and reporting of corporate equity and capitalization, helping satisfy complex regulatory requirements for corporate finance departments.
The latest release of CapMx enhances a company's ability to calculate share-based compensation expenses, in compliance with FAS 123R, which is a rule set by the Financial Accounting Standard Board (FASB) that requires companies to report the fair value of common stock options and share-based payments on their income statements.
The upgrades to CapMx allow for the electronic delivery of option information to option holders and improve upon its best in class reporting and auditing capabilities. The new release has been reviewed and accepted as accurate by major accounting firms that focus on venture-backed emerging growth companies. The new CapMx product release is available immediately to eProsper's private company clients and more detailed product information can be found at www.eprosper.com.
About eProsper and SVB Analytics
eProsper is majority owned by SVB Analytics, an SVB Financial Group (Nasdaq: SIVB) company. eProsper provides on-demand corporate equity administration, analytics and capitalization management software to private, venture-funded companies through its industry-leading, Web-based software, CapMx. SVB Analytics services also include fair market company valuations for private, venture capital-backed companies and venture capital firms. More information can be found at www.svb.com/svbanalytics.