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Irvine, California—July 22, 2009—
Moriah Growth Fund, L.P. is pleased to announce an aggregate investment of
$7,650,000 in Series A Convertible Preferred Stock in Apollo Enterprise
Solutions, Inc. ("Apollo") of Irvine, California.
Apollo provides enterprise-class, hosted solutions to major creditors and
receivables management companies for debtor self-payment and self-settlement.
Apollo’s proprietary TrueCollect™ system leverages existing
software platforms and network infrastructures with bureau decisioning systems
to deliver increased payments and collections. Apollo’s patent-pending
technology uses Decisioning Intelligence™ to provide consumers and businesses
with the ability to pay or settle their accounts using advanced Internet-based
self-service systems.
Joseph S. Konowiecki, Managing Partner of Moriah Partners, who will serve as
Chairman and Chief Executive Officer of Apollo, stated, "Moriah Growth Fund,
L.P., is pleased to have made this investment in Apollo. We believe that Apollo
is uniquely positioned to provide the most efficient and cost-effective method
for creating payback options for consumers and businesses in delinquency or
default. Konowiecki continued Apollo’s online system increases the creditors’
and financial institutions’ ability to offer payback modification programs with
minimal diversion of employees in labor-intensive processes such as telephone
calls and verbal negotiations."
Apollo’s President and Founder Christopher Imrey said, "We are honored to
receive the investment from Moriah, whose partners bring significant management
experience and technical assistance to the Apollo team. As a result of this
investment and the additions to our senior management team, Apollo will be able
to further extend its leadership position as the premier web-based payments and
collections system, both domestically and internationally."
About Moriah
Moriah Growth Fund, L.P. is managed by Moriah Partners, LLC, dedicated to
building companies that dominate their markets. Moriah Partners, LLC invests in
industries it knows, technologies it understands and management it can trust.
Moriah Growth Fund, L.P. is a single purpose investment partnership formed to
invest in Apollo.
About Apollo
Apollo is the leading provider of enterprise-class, web-based solutions to major
creditors for debtor self-payment and self-settlement. Apollo’s
Software-as-a-Service platform allows its clients to recover delinquent debts
faster and more efficiently by offering payment plans and settlement offers
directly to consumers that are calculated by Apollo’s proprietary Intelligent
Debt Solutions System.
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