May 10, 2006 — MyThings, the secure
solution for organizing and managing valuables online, today announced that it
closed a US $8 million (approx: £4.35 million) round of financing from Carmel
Ventures and Accel Partners. As part of the financing, Harel Beit-On, General
Partner of Carmel Ventures and Kaj-Erik Relander, General Partner of Accel
Partners will join MyThings’ Board of Directors.
“MyThings is a thought
leader in the field of online valuables registration and search”, said Harel
Beit-On, General Partner of Carmel Ventures. “As a data aggregator of reported
stolen goods globally, we believe MyThings will emerge as a key enabler for the
growth of online commerce.”
Kaj-Erik Relander,
General Partner of Accel Partners said: "Accel Partners seeks out
companies around the world with unique, breakthrough ideas and the courage to
be first – and we see these qualities, along with a strong management team and
business model, in MyThings."
Benny Arbel, CEO of
MyThings, said: “The theft of valuable property is one of the most common types
of international crime, and stolen property is often offered for sale on online
auctions and other legitimate market places, deterring customers from buying
online. Until today, there was no easy way to check if the item was reported
lost or stolen, and thereby protect oneself from the financial and professional
damage that can result from unwittingly buying stolen goods.
“Going into the future,
the phenomenal global growth of online trading of valuables is creating new
norms of behaviour. MyThings is creating a unique platform for consumers to
enjoy, manage and protect their possessions. This includes simplifying the
opportunities for buying, selling and trading items while increasing the
pleasure and enjoyment of ownership. By being at the forefront of innovation to
enable and encourage these trends, MyThings is set to benefit from its
exponential growth."
About MyThings
MyThings provides
a secure solution for organizing and managing valuables online –whether
consumer electronics such as digital cameras or MP3 players– to bicycles, art,
or appliances. MyThings is an online service that enables everyone to keep
track of their belongings – when and where they were purchased, for how much,
the services provided with them – in the event you wish to sell or replace an
item, or in the event of fire or theft.
MyThings offers
useful services and deals, including valuations, accessories, warranties, lost
and found, and product updates and information. We are an infomediary, a
trusted third-party between buyers and sellers. Members can keep private
portfolios for their own records, or choose to share items of interest with
others.
Founded in 2004
by retail, insurance and technology executives, MyThings is a global business with offices in Menlo Park, California; London, England; and Tel Aviv, Israel.
For further
information contact media@mythings.com