Homepoint Corporation Announces $55 Million Equity Financing Led By Th Lee.Putnam Internet Partners

Furniture World Magazine

HomePoint Corporation, a leading multi-channel provider of Internet solutions for the home furnishings industry, announced a $55 million second round of equity financing led by TH Lee. Putnam Internet Partners ("THLi".) Catterton Partners and GE Equity, which led HomePoint's initial investment round of $16.5 million last August, also participated in this round, along with Granite Private Equity, II, LLC. HomePoint will utilize the funds to complete its industry-wide rollout of business-to-business e-commerce solutions. "This capital will strengthen our leadership position, enabling the company to complete implementation of its technology solutions throughout the home furnishings industry for the benefit of manufacturers, retailers and consumers," said Mike West, president and CEO of HomePoint Corporation. "This includes the expansion of our sales force and the growth of our network of authorized HomePoint dealers." "HomePoint's innovative, multi-channel business-to-business strategy sets it apart as the emerging leader for the home furnishings industry," said Jeffrey H. Coats, THLi's Managing Director. "This capital infusion will facilitate a major force of change throughout the category. THLi expects to work closely with HomePoint's management to leverage our strategic investments in other Internet and home furnishings companies, such as Krause's Furniture, to expand the opportunities for growth." By reshaping the home furnishings supply-chain, HomePoint Corporation aims to revolutionize the industry. The company's unique business-to-business strategy will enhance the overall efficiency, communication and productivity of the marketplace through three key channels: The HomePoint Advantage Network: a sophisticated extranet system that links retailers and manufacturers across the country, allowing retailer members to browse through a virtual inventory of in-stock home furnishings items, place orders and more effectively manage inventory. The HomePoint Advantage: a program which allows retailers that desire access to a more diverse selection of home furnishings, from a wider range of manufacturers, to manage their inventory through a redesigned channel model featuring HomePoint technology. www.homepoint.com: the leading online home furnishings supersite that offers consumers a single source for all their home furnishings and decorating needs.   HomePoint Corporation, headquartered in Greenville, SC, is the leading multi-channel provider of Internet solutions for the home furnishings industry. Founded in August 1998, the company provides a reverse "click-and-mortar" approach that benefits consumers by enhancing the distribution of products through existing supply chains, including their own website HomePoint.com (www.homepoint.com). Contact: melissa.introne@homepoint.com