Great Hill Partners Invests $24 Million In SmartMail, Inc.
Boston, Mass., September 16, 1999 - Great Hill Equity Partners recently closed a $24 million equity investment in SmartMail, Inc. (SMI). SmartMail provides mailing services for flat-sized mail and small parcels, giving the customer volume-driven discounts and operational savings by eliminating internal metering processes. SmartMail, Inc. was formed in 1996 and currently operates in seven locations across the country. "SmartMail offers their customers a tremendous value proposition by reducing postage costs and internal mailroom processing costs while also providing delivery time comparable to first class", said Matthew Vettel, Principal, Great Hill Partners.
Recently, James Martell joined SmartMail as the Chief Executive Officer. Prior to SmartMail, Mr. Martell held senior executive positions for Federal Express and Burlington Air Express. "SmartMail is positioned to provide innovative mailing services to shippers of flat mail and small parcels", said James Martell, " Our partnership with Great Hill Partners will provide the necessary financing to continue our aggressive rollout of locations and services."
About Great Hill Partners
Great Hill Equity Partners is a Boston-based investment firm that provides equity financing and strategic guidance to companies in the Media, Information, Telecom, and Business Service sectors. The firm has closed on, and has begun investing, Great Hill Equity Partners Limited Partnership, a $330 million private equity fund raised from institutional investors including leading commercial and investment banks, state and corporate pension funds, university endowments, and private trusts.