Needham, Mass. (PRWEB) May 30, 2006
HiWired, a provider of remote technology management services for homes and small offices, today announced that it has raised a $5 million Series A round of funding, co-led by Kodiak Venture Partners and Sigma Partners. The company raised $1.6M from angel investors in an earlier funding round.
HiWired will use the funding for partnership and marketing efforts, technology development, and management team growth. Chris Greendale of Kodiak Venture Partners, and Robert Davoli of Sigma Partners will join HiWired cofounders Singu Srinivas and Michael Wexler on the company’s board of directors.
“Kodiak and Sigma bring us invaluable experience in creating successful go-to-market strategies and operating models,” said Srinivas. “We are delighted to have Bob Davoli and Chris Greendale on our board. The ability to leverage their combined technology services expertise will give us a significant competitive advantage.”
“HiWired has all the characteristics venture capitalist look for in a good investment,” said Kodiak’s Chris Greendale. “The company has a seasoned management team with broad based operations and industry expertise, and has identified a large market with tremendous opportunity.”
Founded in 2004, HiWired partners with electronics manufacturers, retailers and Internet providers to offer remote technology management services to consumers and small businesses. HiWired’s suite of technology support and managed services leverages state of the art Internet technologies to install, integrate, secure, maintain and monitor PCs, peripherals, wireless networks, and most hardware and software. For more information on HiWired, please visit http://www.HiWired.com.
About Kodiak Venture Partners
Kodiak Venture Partners is a Waltham, Mass.-based venture capital firm focused on seed and early stage investments in emerging communications/IT, semiconductor and software companies. With a focus in the eastern regions of the U.S. and Canada, Kodiak Venture Partners builds relationships with entrepreneurs seeking accelerated market success. Kodiak’s investment partners are successful high-technology business entrepreneurs who take a high-impact, hands-on approach to forming, operating, building and funding market leaders. For more information, visit http://www.kodiakvp.com.
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