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finalsite Announces New Chief Financial Officer

finalsite, a leading online learning and communications platform for the education industry, today announced that it has hired Jim Calabrese as Chief Financial Officer.

Mr. Calabrese joins finalsite with over 25 years of expansive professional experience, primarily with growing software companies. Over the course of his career, Mr. Calabrese has helped companies pursue acquisitions and organic growth initiatives and guide businesses through a wide range of debt and equity financings. Most recently, he served as Chief Financial and Operating Officer for NetKey, an applications and management software company acquired by NCR Corporation. Previously, Mr. Calabrese spent eight years as the Chief Financial and Operating Officer for Vertafore, a software-as-a-service business serving the insurance vertical.

"We are delighted to add Jim to the finalsite team as we continue to strengthen and extend the company’s market leadership position,” commented Jon Moser, CEO and Founder of finalsite. "Jim is a highly talented executive with a demonstrated track record of growing software businesses. His deep industry experience in working with businesses like ours will be instrumental in helping finalsite fulfill its goal of providing best-in-class software solutions to the educational community."

"I am thrilled to be joining finalsite at such a dynamic time for the company and the education technology industry,” said Mr. Calabrese. "Jon and the management team have built a dynamic growth business that is well positioned to benefit from many accelerating industry tailwinds. It is also a pleasure to join a company with such an admirable mission in providing state of the art software and technology solutions to some of the world’s most influential and prestigious schools. I am looking forward to working with the team to continue to build on and accelerate the company’s success."

Mr. Calabrese joins finalsite as the company continues to build on its market leadership position and long track record of profitable growth. finalsite is a portfolio company of Spectrum Equity, a growth equity firm focused on the information economy, which made a significant investment in finalsite in June 2012.

Mr. Calabrese is a CPA and received his Master’s in Business Administration from Rensselaer Polytechnic Institute at Hartford.

About finalsite

finalsite's online learning and communications platform is utilized by over 1,000 schools and educational organizations across 48 countries and as many as 1 million unique users per day around the world. The platform facilitates the distribution of digital content across school communities and in classrooms via a proprietary, SaaS-based software suite accessed through desktops and mobile devices. In addition, finalsite's software enables customers to engage dynamically with a wide range of third party data providers including student information systems, learning systems and social media applications. finalsite is based in East Hartford, CT and has 71 employees. For more information, please visit http://www.finalsite.com.

About Spectrum Equity

Spectrum Equity is a leading growth equity firm focused on investing in innovative growth stage businesses in the information economy. Spectrum Equity has been an active investor in software and information service providers including iPay Technologies (acquired by Jack Henry & Associates), RiskMetrics Group (acquired by MSCI), Seisint (acquired by LexisNexis/Reed Elsevier), and World-Check (acquired by Thomson Reuters), as well as digital media franchises including Ancestry.com (acquired by Permira), Demand Media, lynda.com, NetQuote (acquired by Bankrate), Seamless and SurveyMonkey. Founded in 1994 with offices in Boston and Menlo Park, Spectrum Equity has raised $4.7 billion in capital across six funds.

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