SellMyTimeshareNOW Raises $1.5 Million

SellMyTimeshareNOW.com, a Dover, N.H.-based online secondary marketplace for timeshares, has raised $1.5 million in new funding from existing shareholder Edison Venture Fund. It previously raised $8.5 million.

PRESS RELEASE
Edison Venture Fund announced completion of $1.5 million follow-on investment in SellMyTimeshareNOW based in Dover, NH. The use of proceeds will expand sales, marketing, customer support and product development. Cumulatively Edison has invested $10 million.

SMTN is leading online secondary marketplace for timeshares. The family of websites provides advertising tools and services to assist owners with sale or rental of their timeshare. SMTN delivered offers surpassing $425 million in 2009. The company launched Vacation Property Solutions, an industry-friendly resale for timeshare developers and homeowner associations.

“Edison’s strategic counsel and experience accelerating growth of their portfolio companies has been instrumental to our success,” commented SMTN’s CEO, Jason Tremblay. “With Edison’s continued guidance, we look forward to significantly increasing revenue.” Orlando Mendoza, Principal, joined Michael Kopelman, Principal, and John Campbell, Edison Director Network member, on Board of Directors. Campbell was Co-Founder and EVP of Marcam, an Edison IPO-success. Rob Finn, Associate, led Edison’s due diligence.

“SMTN is forging relationships with the timeshare industry’s prominent brands,” noted Michael Kopelman. “The management team are recognized thought leaders and innovators in the industry,” added Orlando Mendoza. “Customers praise SMTN’s exceptional service,” commented Rob Finn.

Edison invested in 19 eCommerce & Interactive Marketing companies including Cadient, Exclaim, Fishbowl, Innovectra, Operative, Sonicbids, True Commerce and Vocus. Edison has made 22 investments in New England, including Blue Cod, CambridgeSoft, Inmagic, Maptuit, PlumChoice, RewardsNOW, Tangoe and VFA. Successful Boston area exits include Marcam, MathSoft, Netegrity, Retec and Tylink.

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 late stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $5 to 10 million. Edison typically serves as the 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, Needham, MA and McLean, VA. Industry specialties include application software, communications, financial technology, interactive marketing, and healthcare IT. Edison’s successes include Axent, Best Software, Dendrite, Gain Capital, Liberty Tax, Visual Networks, VirtualEdge 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

About SellMyTimeshareNOW
The company is the recognized global leader in online timeshare resale and rental marketing, delivering nearly 150,000 offers to buy or rent timeshares through its websites in 2009. The company’s flagship website property, SellMyTimeshareNOW.com, provides internet advertising and marketing solutions for timeshare owners who seek to sell or rent their timeshare. In addition, the company also offers success-based services through its brokerage arm, Timeshare Broker Services. Headquartered in Dover, NH with offices in Orlando, the company has over 150 employees and was recently recognized for the second year in a row as one of the fastest-growing privately-held companies in the country by Inc. magazine. www.sellmytimesharenow.com