Press Releases

VIPdesk Secures Second-Round Funding to Fuel Expansion of Internet Concierge Service

PA Early Stage, Scripps Ventures, Women's Growth Capital Fund, The Dinner Club and New Participants Contribute $7.43 Million

Alexandria, VA, February 12, 2001 – VIPdesk, the fast-growing Internet concierge service, today announced it has secured $7.43 million in second-round funding led by PA Early Stage and included SEI Investments and InRoads Capital.

VIPdesk is the leading provider of "live" web-based personal and convenience services to help busy people get things done. VIPdesk provides companies with a virtual personal assistant platform that offers a network of live, local concierges for employees and customers. This innovative technology, which serves 5.3 million users, acts as a powerful retention and productivity tool.

"VIPdesk has grown significantly in the last year by bringing on clients such as Diners Club, America Online and MasterCard," said Paul Schmitt, managing director of PA Early Stage. "Mary Naylor and her team have proved themselves the leading provider of online personal services, and we are very pleased to invest in the company."

With this second-round funding, Naylor and her team plan to expand the VIPdesk sales force and research and implement new technologies that increase efficiencies and customer service.

"I am enthusiastic about the funding coming from our current investors as well as new participants," says Mary Naylor, CEO and Founder of VIPdesk. "The ability to tap into the collective resources and market expertise within each participating firm will be extremely valuable for our aggressive growth plan."

VIPdesk is a Business-to-Business market opportunity, offering corporate clients a co-branded concierge program and web site to promote as a lifestyle enhancement service to their employees and/or customers. Clients pay annual access and program fees to provide their customers and/or employees with 24x7 access to trained live concierge agents via a co-branded web site, telephone, e-mail, and live one-on-one chat.

About VIPdesk (www.vipdesk.com)

VIPdesk's unique Web-enabled concierge service provides personal, real-time assistance from live, local concierge agents. Founded in 1997 by Mary Naylor, a 13-year veteran of the concierge industry, this personal assistant infrastructure platform serves clients including America Online's Digital City, Freddie Mac, MasterCard, Citibank, e-Tenants.com, and Diners Club.

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