| December 04, 2007 |
| |
| CrossLoop Raises $3 Million in Series A Financing |
| |
| Portfolio Company: CrossLoop |
| |
CrossLoop Raises $3 Million in Series A Financing and Announces the Release of Dynamic Profiles in CrossLoop V2.0
Users of CrossLoop's Free Desktop Sharing Software Can Now Create Free Accounts to Build, Track and Promote Their Technical Expertise
PACIFIC GROVE, Calif.-- Dec. 4, 2007 -- CrossLoop, Inc., creator of the world's easiest to use secure desktop sharing software, today announced that it has raised $3 Million in a Series A financing led by El Dorado Ventures.
CrossLoop connects people with trusted contacts -- both friends and professional service providers -- to receive help on their computers. With CrossLoop, people can help their contacts remotely as if they were working side by side. Popular uses for CrossLoop include helping people learn a new software program, providing them with technical assistance, and trouble-shooting problems on their computer.
"Technology makes people more productive and efficient, but it also comes at a cost. The average consumer spends hours each week addressing computer problems," said Lisa Alderson, President and CEO, CrossLoop, Inc. "We are pleased to be working with El Dorado because they share our vision of dramatically changing the time-consuming and often expensive process that consumers and small businesses go through to get basic computer help today."
With this investment, Tom Peterson, General Partner at El Dorado Ventures, joins CrossLoop's board of directors.
"Since launching last November, CrossLoop has seen rapid adoption with hundreds of thousands of user sessions connecting people in over 150 countries worldwide," said Tom Peterson. "We are excited to partner with the CrossLoop team to help them achieve their vision of solving the frequent computer support problems that every computer user has experienced.
With CrossLoop's free desktop sharing software, everyone can help someone. Current users range from professional service providers helping hundreds of clients, to individuals helping friends and family members across geographies.
According to one service provider, "I've been waiting for Crossloop for 6 years! We've tried every remote desktop sharing software out there and our client base cannot use any of them -- they're far too complex. This has changed the dynamics of our entire company. My happy customers are now jubilant customers, and support call length has been reduced from an average of 1 hour to 15 minutes!"
Another CrossLoop user says, "Grandma loves it! She's 80 and crashes her computer regularly & its 180 miles to her house to make it right, or just 5 minutes on CrossLoop. Beat that for reducing our carbon footprint!"
New Dynamic Profile Service Now Available
CrossLoop also unveiled its new design and web service that complements its popular desktop sharing software. The web service enables users to create free CrossLoop accounts to track, build and promote their technical credentials.
This is the first dynamic profile in the industry -- one that will update automatically every time a member uses CrossLoop to share desktops. This helps professional service providers to build and track their credentials with every CrossLoop help session. It also allows providers to capture and share ratings, reviews and testimonials. CrossLoop members can then market themselves effortlessly by publishing a widget -- their CrossLoop Badge -- on any site, blog or social network to promote their expertise anywhere on the web.
It is all live and available now at www.crossloop.com.
About El Dorado Ventures
El Dorado Ventures (EDV) is a leading entrepreneur-focused, early-stage venture capital firm with over two decades of success. Entrepreneurs see EDV as a trusted investment partner who shares their vision and helps them succeed by providing ongoing strategic guidance and access to a wealth of industry contacts. With $750 million in capital under management, the firm invests across the information technology spectrum, from semiconductors and systems to communications, software and services, targeting both consumers and the enterprise. El Dorado's early-stage investments have included Compellent Technologies, Cyras Systems, EarthLink, Efficient Networks, Novellus and NuSpeed Internet Systems. Numerous EDV portfolio companies have gone public or been acquired by major technology companies including AT&T, Ciena, Cisco Systems, nVidia, Siemens, Texas Instruments and Yahoo. |
|
