PlumChoice Inc. Completes Series F Round
PlumChoice Inc., a Billerica-based maker of remote help desk technology, has raised $25.6 million in a new round of funding, according to the company. M/C Venture Partners, Gold Hill Capital and Eastward Capital joined previous backers in the round, which also included some debt, officials said in a release.
According to PlumChoice, the new funds will mainly be used to grow the sales and marketing efforts and add to the platform services the company offers, which it calls SAFElink. The platform allows companies to provide outsourced support for software and technology such as PCs, peripherals, digital cameras and smart phones. In conjunction with the financing, Gillis Cashman, general partner at M/C Venture Partners, will be joining the PlumChoice board.
PlumChoice took in financing in December of 2009, coming in the form of $10 million in debt funding from Silicon Valley Bank. That added to the $14.7 million equity funding the Billerica company closed in September of that year. EWith the new $25.6 million funding, PlumChoice has brought in a total of about $56 million. Other backers have included New Jersey-based Edison Ventures.
In November of last year, PlumChoice purchased Everon Technology Services, a Colorado-based IT managed service provider, for an undisclosed amount. Mike Cooch, president and founder of Everon, joined PlumChoice as vice president/general manager, business services.