January 12, 2006
NEW YORK, NY (January 12, 2006) OnForce, the first and most advanced on-demand marketplace for on-site technology services, today announced the closing of $15 million in Series A funding from General Catalyst Partners. Hadley Partners served as financial advisor to OnForce. Formerly ComputerRepair.com, OnForce provides a web-based platform to procure and manage on-site technology services – including installation, repair, configuration and training for a comprehensive range of IT equipment. With more than 12,000 highly qualified service professionals in the OnForce Network, the platform allows Value Added Resellers (VARs), technology retailers, technology service providers, OEMs and large corporations to instantly deliver reliable on-site services cost-effectively and efficiently virtually anywhere in the U.S.
“We have had a phenomenal twelve months as we have laid the groundwork to completely reshape the way that businesses procure on-site technology services,” said Jeffrey Leventhal, president and CEO of OnForce. “With the infusion of substantial capital into the business, we are looking forward to revolutionizing the services industry in 2006. Thousands of clients, both large and small, have already integrated OnForce into their business – the funding will enable us to grow that number into tens of thousands of satisfied clients.”
“OnForce is positioned to do what no other company has succeeded in doing: facilitate the delivery of technology services in a scalable, profitable approach,” said David Fialkow, managing director, General Catalyst Partners. “In its first full year of activity, OnForce has already been rewarded with multiple marquee clients, talented management and profitable revenues. Companies like that are few and far between and we are thrilled to have the opportunity to partner with OnForce to grow the business and deliver on the tremendous market potential.”
About OnForce (www.onforce.com)
Headquartered in New York City, OnForce is the industry’s first and most advanced on-demand marketplace on the web for on-site technology services in the U.S. OnForce enables large and small enterprises to compete more effectively in today’s global digital economy by increasing business efficiency, gaining immediate access to highly qualified technical experts, regardless of location, and enabling quick delivery of high-quality technical services to customers. OnForce’s patent-pending platform enables direct control over the procurement process, reducing management costs, improving service levels and empowering both clients and service providers. The OnForce Network features over 12,000 qualified service providers nationwide and serves thousands of national, regional and local clients.
About Hadley Partners (www.hadleypartners.com)
Founded in 1999, Hadley Partners always seeks to provide the highest-quality merger & acquisition advisory, private placement and financial advisory services. We have a world-class team of veteran bankers that bring Wall Street experience to middle-market and emerging growth companies. Our goal is to develop relationships of trust with the leaders of these companies and with investors that pursue investment opportunities in such companies. We provide our services in a fair and flexible manner, and we always put our clients’ interests first. Hadley Partners is a registered broker-dealer, and a member of the National Association of Securities Dealers and the Securities Investor Protection Corporation.
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