NEA Invests in TechForward
12/13/07 – New Enterprise Associates, or NEA, today announced that it has completed an investment in Manhattan Beach-based TechForward, which provides consumer electronics trade-in plans. TechForward says it will use the funds to advance its Guaranteed Buyback product within the consumer electronics marketplace by partnering with retailers and manufacturers. The firms did not reveal the amount of the investment.
The company says Guaranteed Buyback enables customers to upgrade electronics more easily and affordably by locking in trade-in values at the time of the original sale. Customers can then return their devices to the point of purchase for cash or store credit that can be applied to a future purchase, according to TechForward.
In addition to offering consumers a tool against early product obsolescence, TechForward also touts its environmentally friendly aspect as Guaranteed Buyback provides a disposal method that promotes reuse and recycling.
The company launched last year, and is also backed by First Round Capital.
TechForward – www.techforward.com
