HelloTech Closes $12.5 Million in Funding

Madrona Venture Group Leads Round to Fund Aggressive Expansion of
Tech Support Service that Matches Savvy College Students with Frustrated
Technology Users

LOS ANGELES–(BUSINESS WIRE)–HelloTech
announced today a $12.5 million Series A funding round led by Madrona
Venture Group
with participation from all existing institutional
holders including Upfront
Ventures
, CrossCut
Ventures
and Accel
Partners
.

Since launching in May, HelloTech has paired savvy college students,
HelloTech Heroes, with technology users who are tired of waiting on hold
and need in-person support. HelloTech screens, tests and vets their
Heroes and then deploys them to homes covering more than 200 zip codes
in Los Angeles, which represents a population of more than 3 million
people. HelloTech will expand to Orange County in the coming weeks with
additional major metros shortly thereafter.

Bringing the ease of the on-demand economy to tech support, consumers
can sign up and schedule a convenient time for their first visit through
the HelloTech website on either their computer, a smartphone or via a
phone call answered by a live person. Given that technology issues are
often emergencies or feel like emergencies, HelloTech offers service
within 24 hours and in most cases can provide same-day service.

“It’s clear that HelloTech has struck a chord with our consumers and
investors as technology in the home has become as important as common
utilities such as electricity, water and telephone service,” said
Richard Wolpert, co-founder and CEO of HelloTech. “Everyone has had the
experience of something new and cool just not working and almost
everyone in the technology industry has been called in to help fix tech
issues for someone else, usually their parents or grandparents.
HelloTech provides the patient and experienced help that technology
users need without having to tap into extended family and friends.”

HelloTech solves many existing issues, including common issues with WiFi
connectivity, photo management and sluggish computers that plague
consumers. HelloTech Heroes also teach consumers the tips and tricks for
new devices such as iOS or Android devices, transforming the device from
a phone into something truly delightful.

Additionally, HelloTech offers a curated selection of smart home
technologies including wireless music systems, Internet-controlled
thermostats, digital door locks, and video surveillance systems. These
technology devices are increasingly becoming common features in today’s
homes, but can be confusing to purchase, install and operate. HelloTech
offers products in a range of categories and prices to simplify the
process of taking advantage of these new home technologies. The company
already partners with technology companies such as Sonos, Nest, Belkin,
Linksys, WeMo, Ring, Lifelock, and iDrive.

“Richard and his team have built a service we all would like to have for
ourselves and our relatives,” said Len Jordan, managing director,
Madrona Venture Group. “With more than half of senior citizens online
and baby boomers who want the new technologies in their home but do not
necessarily relish the work to install them, a service like HelloTech
replaces the hunt around for a willing kid of a friend to help them out.
The HelloTech team has built a strong following and we are excited to
work with them as they expand their service.”

As part of the financing Jordan joins the HelloTech board. Jordan and
Wolpert first worked together at RealNetworks in Seattle where each ran
major divisions of the company.

Consumers in LA (and soon Orange County) can schedule their appointment
by visiting http://www.hellotech.com/
or by calling 1-888-982-4410 to schedule a
convenient time for their first visit. Visits are billed at $79 per hour.

About HelloTech

Founded by former Disney and Apple exec and venture capitalist Richard
Wolpert, HelloTech provides in home tech support, advice, and sales of
new smarthome technology on demand and in your home.  The company is
based in Los Angeles and was incubated in Amplify.LA.

About Madrona Venture Group

Madrona (www.madrona.com)
has been investing in early-stage technology companies since 1995 and
has been privileged to play a role in some of the region’s most
successful technology ventures. The firm invests predominantly in seed
and Series A rounds across the information technology spectrum,
including consumer Internet, SAAS, digital media and advertising, cloud
computing, data analytics, and mobile.

Contacts

Madrona Venture Group
Erika Shaffer, 206-674-6330
Erika@madrona.com