Deployed MATLAB excel addin cannot find toolbox funtions

I have created an excel addin using MATLAB builder EX (Release 2014a). However, the deployed application fails at runtime with the error that it could not find built-in toolbox functions such as ppmak, optimoptions etc. Functions that are part of standard MATLAB installation like mean, isnan etc work fine. Also, user defined functions and classes work fine. Could anyone share any insights on this issue?

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