OnForce, the World's Largest IT Service Marketplace, Secures Funding for New Market Expansion

OnForce, the World's Largest IT Service Marketplace, Secures Funding for New Market Expansion

September 19, 2007

Company Secures $6.75 Million in Series A1 Financing, Led
by Accel Partners

    NEW YORK, Sept. 19 /Xinhua-PRNewswire/ -- OnForce, the
world's largest marketplace for IT service professionals,
today announced the completion of a $6.75 million Series A1
financing round, led by Accel Partners, the venture capital
firm behind Facebook.  OnForce will use this investment to
build upon its highly successful IT services marketplace in
the U.S., and to expand into new geographic markets and
service categories.

    OnForce currently has more than 10,000 service
professionals and has completed over 500,000 service events
in its IT services marketplace.  The OnForce marketplace
enables on-site service in a wide variety of technology
categories, including computers, printers, networking, VoIP
and consumer electronics.  

    "OnForce has experienced phenomenal growth and
market adoption for our IT services marketplace,
particularly in the last year.  We've become an industry
standard as the best way to find IT service professionals,
and we're now ready to take our industry-leading position
and apply it to new markets," said OnForce CEO Peter
Cannone.  "Accel has a keen understanding of market
trends and international expansion, and will be invaluable
to our efforts to expand the OnForce marketplace into new
geographic markets and service sectors."  

    Harry Nelis, Accel General Partner, said, "OnForce
has developed a proven and highly robust marketplace for
contract IT professionals within the U.S., and we believe
there is a great deal of potential in bringing this model
to other markets. As a global VC, helping companies expand
internationally is one of Accel's strengths. We look
forward to working with OnForce's seasoned management team
to further accelerate growth."

    Nelis will join the OnForce Board of Directors and
Accel Partner's, Judy Gibbons, formerly Corporate Vice
President in Microsoft's MSN Division, will serve as an
advisor.  Current OnForce Board of Directors include: Marty
Abbott, former SVP of Technology/CTO at eBay; Alan Weber,
former Chairman and CEO of US Trust Corp; David Orfao,
Managing Director, General Catalyst Partners; Isaac Kato,
Venture Principal, General Catalyst Partners; and Peter
Cannone, Chairman and CEO of OnForce.  

    In the coming months, OnForce will announce which
countries and service categories it has chosen for
expansion.

    About OnForce

    OnForce is the world's largest marketplace for contract
IT service professionals.  The company enables VARs,
solution providers and IT staffing companies to find highly
qualified IT professionals in virtually every zip code in
the U.S.  These IT service firms turn to OnForce to expand
their geographic and skill set coverage without adding
overhead or upfront expense.  OnForce enables increased
buyer control and reduced management costs, while improving
service levels and offering faster response times than
traditional methods of finding contract technicians.  

    Since its inception, the OnForce marketplace has been
used to successfully complete more than 500,000 work
orders.  The OnForce community is made up of 5,000+ IT
service buyers and 10,000+ IT service technicians who work
in a number of technology categories, including computers,
printers, networking and consumer electronics. For more
information, visit http://www.onforce.com. 

    About Accel Partners: 

    Founded in 1983, Accel Partners is one of the world's
leading venture capital firms. The firm is dedicated to
partnering with outstanding entrepreneurs to build
world-class Internet, software and networking companies.
Accel Partners has more than $4bn under management from its
offices in Palo Alto, London, and China, and its portfolio
companies have completed IPOs that have created well over
$150 billion in market capitalization. Representative
current and former investments include Brightcove,
Comscore, Double Fusion, Facebook, Glam, Macromedia,
RealNetworks, and The Cloud. For more information, please
visit http://www.Accel.com.  


    For more information, please contact:

     Media:

     Amber La Croix 
     Airfoil Public Relations 
     Phone: [phone]
     Email: [e-mail]

     Emma Ap-Thomas
     Accel
     Phone: [phone]
     Email: [e-mail]

     Website: http://www.onforce.com
              http://www.Accel.com