BILLERICA, Mass., August 16, 2007 — PlumChoice (www.plumchoice.com), the nation's leader in remote PC services, today announced it has secured $4.8 million in financing from Edison Venture Fund of Lawrenceville, NJ. The company will use the funds to fuel the growth of remote PC services and continue to drive the agenda for the industry. PlumChoice offers consumers fast, convenient and secure technology support not found in today's traditional tech support services. As consumer lifestyle continues to become more "digital," PlumChoice is able to keep pace with today's consumer demand, servicing everything from MP3 players to PCs to home theatres.
PlumChoice provides consumers and small businesses with around-the-clock, high-touch technical support delivered right through the Internet. Its mission is to help consumers with all of their personal technology needs, including set up, training and ongoing technology maintenance and repair on products ranging from PCs, networks and printers to MP3 players, PDAs, digital cameras and more. The company further distinguishes its services with special "it's-all-about-you" options such as select your own tech, on-demand scheduling and easy online account management.
"The convergence of greater broadband acceptance, increased home PC use and new must-have lifestyle gadgets has given rise to a fast growing need for enhanced technology support services," said Chris Sugden, General Partner of Edison Venture Fund. "PlumChoice's remote service hits the mark in providing consumers with reliable, trusted and secure offerings that get it right the first time. We've seen the future of home technical support and it's PlumChoice."
About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to expansion stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $4 to 7 million. Edison typically serves as a sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases. Edison's investment professionals are based in Lawrenceville, NJ, 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 Axent, Best Software, Dendrite, E-Transport, Princeton Financial, QSS, Visual Networks, Virtual Edge 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. www.edisonventure.com
Karen McPhillips, Vice President, Marketing
SSPR, for PlumChoice
The press release contains forward-looking statements regarding anticipated objectives, growth and/or expected product and service developments or enhancements. Such forward-looking statements may be identified by the use of the following words (among others): "believes," "expects," "may," "will," "plan," "should" or "anticipates," or comparable words and their negatives. These forward-looking statements are not guarantees but are subject to risks and uncertainties that could cause actual results to differ materially from the expectations contained in these statements. PlumChoice assumes no obligation to update any forward-looking statements contained in this press release in the event of changing circumstances or otherwise, and such statements are current only as of the date they are made.