PlumChoice, the nation’s leader in providing remote technical support services to home, home office and small business customers, announced that it has closed out it’s most recent round of capital funding with an additional $2,800,000 from the New Jersey-based Edison Venture Fund, Comerica Bank, and select members of management. This follow-on funding will allow PlumChoice to take advantage of expanding market opportunities to provide its unique and trusted brand of affordable and effective web-based technical support services.
Through its exclusive SAFElink(TM) platform, PlumChoice offers secure, anytime, anywhere service on more than 370 applications, technologies and devices, including setup, training, diagnostics, maintenance and repair. In 2007, PlumChoice served half a million clients in more than 2.5 million transactions. PlumChoice’s friendly and knowledgeable techs are 100% U.S. based and 100% industry certified. The company continues to earn stellar customer satisfaction ratings and has garnered Editor’s Choice Awards from both Laptop and PC Magazine.
“This investment is an important part of our overall growth strategy and will provide the capital we need for the rapid growth of the business,” said PlumChoice founder and CEO Ted Werth. “The market for PC services is becoming more complex. Our approach to delivering these services addresses a significant gap in the market – effective, secure and safe service solutions for the home and small business. This follow-on round will provide us the ability to grow and achieve the aggressive plans we have set for 2008 and beyond.”
In addition to the funding, PlumChoice also announced that Edison Venture partner Michael Balmuth will replace Chris Sugden as Edison’s representative on the PlumChoice board of directors. The move will allow PlumChoice to take advantage of Balmuth’s local presence in Edison’s Boston office.
“Chris has been an outstanding member of the PlumChoice team, and we appreciate his valuable insight and guidance over the past year,” Werth said. “We look forward to working with Michael and having the opportunity to expand our network through his relationships in the Boston area.”
“PlumChoice’s growth over the past year is indicative of the burgeoning demand for the kind of one-on-one, comprehensive service customers want,” Sugden said. “Consumers need a trusted source they can turn to if something goes wrong or they need help to just make their technology work.”
“Technology has permeated so much of our daily lives, from the way we conduct business to how we manage our homes and seek entertainment,” Balmuth said. “For many businesses, and even some households, technology is an absolutely necessity. This proliferation translates into an outstanding growth opportunity for PlumChoice and their solid, secure platform for providing the support services that people need, when they need it.”
To learn more about investment opportunities at PlumChoice, contact Dan Baker, chief financial officer, at 781-501-5271 or email@example.com .
Since 2000, PlumChoice has become the nationwide leader in providing trusted remote technical services for the home, home office and small business. PlumChoice leads the industry in technical innovation and integrated services, giving customers affordable solutions to their technology problems anytime, anywhere. Through its exclusive SAFElink(TM) platform, PlumChoice offers comprehensive, flexible service options (one-time, per-minute and subscription plans) on networking, software applications, personal computers & laptops, printers, peripherals, MP3 players, digital cameras, mobile devices/PDAs and more. PlumChoice is trusted by more Fortune 500 companies than any other provider. Its team of U.S.-based, 100% industry-certified agents is available 24/7/365. PlumChoice’s Partner Go-To-Market program helps business partners come to market rapidly and grow revenue quickly. The company offers specific integrated programs for Telcos, ISPs, manufacturers, retailers and eTailers. PlumChoice services are also available online and in-store through Circuit City stores, Firedog and EarthLink, as well as many other partners. For more information, visit http://www.plumchoice.com , call 1-888-PLUM-HELP (1-888-758-6435) or send email to firstname.lastname@example.org .
About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides expansion capital and value-added services to information technology businesses with $5-20 million revenue. Initial investments range from $5-10 million. Edison typically serves as sole or lead investor. In addition to providing growth equity, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, Needham, MA, New York, NY, West Chester, PA, and McLean, VA. Industry specialties include application software, communications, financial technology, interactive marketing, healthcare & pharmaceutical IT. Edison’s successes include Best Software, Dendrite, Gain Capital, MathSoft, Princeton Financial, VirtualEdge, Visual Networks, Vocus and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $550 million under management and is actively making new investments. http://www.edisonventure.com