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DocumentPlanet Receives $1.5 Million in Venture Funding

Press release from the issuing company

Alexandria, VA 3/6/01 -DocumentPlanet, Inc. (DPI), a Virginia-based print marketing and management company, announced today that it received $1.5 million in a Series B round of financing from HFS Venture Fund I LLLP, a venture fund affiliated with HFS Capital LLC in McLean, VA. This investment brings the total capital raised by DocumentPlanet to just over $2.5 million. "This is a very important step in DocumentPlanet’s growth," said CEO Frank Felker. "This first round of institutional capital will allow us to complete our technological infrastructure while rapidly ramping up our sales presence in the Washington, DC area." DocumentPlanet is a project management company serving high-volume buyers in the $300 billion worldwide commercial printing industry. DPI’s unique customer-focused approach offers clients three levels of customer support 1) outbound account executives; 2) internal customer service representatives and; 3) digital service representatives who provide technical support directly to client desktops via the Internet. Telephone and tech support are available from 7:00 a.m. to 11:00 p.m. while online job tracking and digital asset management capabilities are offered around the clock. "We’re convinced that we have the right formula to bring the printing industry into the 21st century," Felker stated. "Our technology is state-of-the-art, our production and strategic partners world-class and our people the best in the business." DocumentPlanet outsources all production to a network of print partners representing nearly $500 million in capacity at 30 U.S. plants, covering every conceivable print process from letterpress to digital, creative services to mailing and fulfillment.