PlumChoice Raises $25.6 Million in Financing
Expands Market Domination with its Premium Technology Care Services and Platform Business
BILLERICA, MA – (May 4, 2011) – PlumChoice announced today it has raised $25.6MM in financing to meet the growing market demand and expansion requirements for its premium Technology Care services. Funding sources included follow-on investments from existing investors, plus substantial first-time investments from M/C Venture Partners and debt providers. Proceeds will be used to fund growth, expand sales and marketing, and enhance the breadth of PlumChoice’s platform services.
PlumChoice’s patented SAFElink™ platform delivers a comprehensive set of technology care services for ISPs, wireless carriers, device manufacturers, retailers, independent software manufacturers and extended warranty providers. The company has led the market for premium technology care services since 2001, packaging its subscription services, incident-based services and software solutions for distribution and resale through corporate partners who understand the need to care for all their customers’ technology and provide a valued service to improve loyalty and increase revenues.
SAFElink bundles integrate remote and on-site services with other value-added customer care offerings to completely solve technology issues for consumers and small business owners, enabling companies that sell to and provide services to these markets to efficiently deliver a premium technology care business model to their customers and end-users.
“We are pleased to strengthen our balance sheet and position the company to dominate the market as demand for premium services is increasing and the use of SAFElink to launch businesses is growing rapidly. PlumChoice is committed to providing its partners with the best solutions now and in the future,” said PlumChoice CEO Ted Werth, the pioneer in premium technology services for more than a decade. “We help our large partners to own and dramatically improve the service experience – which is a critical differentiator for businesses when selecting providers to serve their needs.”
“PlumChoice has built a business which clearly addresses a major market need. Their domain expertise, strong partnerships, and clear passion for customer service promises long term differentiation for their customers,” said Gillis Cashman, General Partner at M/C Venture Partners located in Boston, Mass. “Our team’s analysis of the PlumChoice business, and its future prospects made this an excellent investment for our portfolio.” Mr. Cashman will also join the PlumChoice board.
PlumChoice is setting a new standard of customer care with its Service 2.0 approach that has reinvented the way technology care is provided to connected homes and small businesses. As the largest independent technology care provider in the industry, PlumChoice pioneered the remote technical services business in 2001, providing 24x7 online repair and assistance for digital devices through local industry-certified agents. With the addition of its patented SAFElink™ service relationship platform, PlumChoice now offers a fully integrated and highly secure solution for service providers and other business partners, working under their brand names to provide them with new sources of revenue and cost reduction. PlumChoice's services can be delivered remotely or on-site as a one-time incident, bundled with products/services, or subscriber-based solution. Covered devices include PCs and Macintosh™ computers, laptops, netbooks and mobile phones, TVs and home theater systems, routers and servers, networks, security systems, consumer electronics, software, peripherals, iPhones and other devices. For more information, visit www.plumchoice.com, call 1-866-811-3321 or email firstname.lastname@example.org.
About M/C Venture Partners
M/C Venture Partners is a venture capital firm focused exclusively on the communications, media, and information technology sectors. The firm has invested over $1.5 billion into nearly 100 companies in those sectors. Companies M/C has backed include Attenda, Cavalier Telephone, Corelink, Fusepoint, ICG Communications, Legendary Pictures, Lightower, MetroPCS, NuVox, Open Mobile, Public Mobile, Seven Networks and Zayo Group. The firm has strong institutional backing from the nation's leading pension funds and endowments as well as a long track record of success. M/C Venture Partners has offices in Boston, San Francisco and London. For more information, visit www.mcventurepartners.com.
Kevin Rhodes; CFO
Phone: (866) 811-3321; email@example.com
Belinda Rooney, SSPR, 1-866-811-3321 or email firstname.lastname@example.org