I Love Rewards Closes Series B Round With $8.7 Million in Financing

Toronto, Ontario and Boston, MA (PRWEB) June 18, 2009

I Love Rewards (http://www.iloverewards.com), North America's fastest growing rewards and recognition program provider, today announced that it has closed its Series B financing round with $ 8.7 million in funding, following an investment by the Ontario Venture Capital Fund (OVCF) of $ 1.8 million. Today's funding announcement marks the first direct co-investment made to a company by the OVCF. I Love Rewards received its first Series B funding last month, with $ 6.9 million from GrandBanks Capital, a Boston-based venture capital firm, along with participation by prior investors JLA Ventures and Laurence Capital.

This financing round caps off a tremendous last 12 months of growth for the company. Despite expectations set by the current state of the economy, I Love Rewards has seen a 187% growth in gross billings and a 253% increase in customer acquisition. The company has raised a total of $ 13.6 million in the past 18 months, including a successful series A financing round in 2008 led by JLA Ventures.

"Now more than ever, companies need to find solutions to retain their best people and drive productivity with less manpower and resources," said Razor Suleman, Founder and CEO of I Love Rewards. "Our investors recognize this growing need, and with their commitment, we will enhance our capabilities as we realize our vision of being the global leader in web-based rewards and recognition."

"We are very happy to share the news of our investment in I Love Rewards, and are delighted to include this high-potential Ontario-based company in the OVCF portfolio," said Melissa McJannet of TD Capital Private Equity Investors, manager of OVCF. "Razor and the I Love Rewards team have proven that they have what it takes to continue to grow and prosper in Canada, and we look forward to supporting them as they expand into the United States and beyond."

In addition to their successful funding round, I Love Rewards was recently the recipient of the Top 10 Technology Companies award and WorldBlu's 10 Most Democratic Workplaces award, and was named one of the Top 50 Small and Medium-Sized Employers.

I Love Rewards is a web-based provider of employee rewards and recognition, sales incentive and service award programs that works with top employers and leading companies such as Microsoft, Marriott, ConAgra and Bell. For more information please visit http://www.iloverewards.com.

GrandBanks Capital invests in early stage technology companies located primarily in the eastern part of the United States and Canada. With headquarters outside of Boston, the firm has proven investment expertise in Internet infrastructure, software, security and storage applications, media and wireless technologies and services, and financial services. The GrandBanks Capital portfolio includes: Coradiant, Ember Corporation, First Coverage, GlassHouse Technologies, I Love Rewards, Incipient, OutStart, SendMe, uLocate Communications, Vela Systems, Vivox, and xkoto.

JLA Ventures is one of Canada's foremost venture capital firms. They invest in growth companies that are focused on Software-as-a-Service (SaaS), new and digital media, communications and mobile computing companies. JLA Ventures is also a co-manager of the Blackberry Partners Fund.

The $ 205 million Ontario Venture Capital Fund is a joint initiative between the Government of Ontario and leading institutional investors to invest primarily in Ontario-based and Ontario-focused venture capital and growth equity funds that support innovative, high growth companies. OVCF is structured as a fund of funds with the primary objective of generating attractive returns for its investors. The Fund is managed by TD Capital Private Equity Investors. For more information on OVCF, go to http://www.ovcf.com.

For press inquiries, please contact:

Christina Weber

christina.weber @ iloverewards.com

416-531-1531 ext. 299

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Miss Universe Brook Lee 'From Hawaii With Love'

Phoenix, AZ (PRWEB) October 1, 2009

In the upcoming episode of "From Hawaii With Love", hosted by Jenny Fujita and Joy Koerte at 3 p.m. PT on Thursday, Oct. 1 on The VoiceAmerica Talk Radio Network Variety Channel, listeners will meet Hawaii's very own Brook Mahealani Lee, who was crowned Miss Universe 1997. Lee will share what it was like for a local Hawaii girl to win an international title in front of a worldwide audience of over 600 million viewers in 60 countries, and how her Hawaii upbringing contributed to her success.

Lee will discuss her experiences attending the prestigious Punahou School, President Barack Obama's alma mater, graduating from Kamehameha Schools, a school for indigenous Hawaiians, and her current endeavors, including being a host of "Great Cruises: Norwegian Pearl" for the Travel Channel and "Cruises We Love." She'll also play "Hawaii 5-Go," a speed round of five fun questions, and she'll answer the question hosts Fujita and Koerte ask all of their guests: what's the best lesson Hawaii can teach the world?

Lee is of mixed Hawaiian, Korean, Dutch, English, French, Portuguese, and Chinese ancestry. She is the last Miss USA to win the Miss Universe title. After her reign as Miss Universe, Lee made several appearances in TV before becoming a TV host. She has been on "The Nanny" and "Boy Meets World" and has hosted Hawaii Sports Adventure for ESPN, "Top Ten Beaches of America" for the Travel Channel, "Casting Session" and "World Premiere" for the Fox Movie Channel, "E! Behind The Scenes Look At Miss Universe" on E! Entertainment Television, and "Pacific Fusion." Her most recent project is as host of "Great Cruises: Norwegian Pearl" for the Travel Channel and as a featured host of a new series "Cruises We Love."

"From Hawaii With Love," the popular VoiceAmerica internet radio show, is hosted by Joy Koerte, a lifelong Hawaii resident, and Jenny Fujita, a once-newcomer to the islands. What makes Hawaii an exceptional destination is its inimitable, hard-to-define aloha spirit. In fact, a national survey ranked Hawaii second in the "Best Places to Live Poll." While Hawaii's millions of visitors and the many others who fantasize about life in paradise can't all live there, they can be inspired by Hawaii's beautiful customs and traditions and share them with their families and communities. On "From Hawaii With Love," Koerte and Fujita will do just that, as well as give an insider's view of how life really is in Hawaii and weave this into their interests from food to fashion, family, beauty, business, and more. Show guests include Hawaii's greatest success stories and friends and family who are among Hawaii's most colorful characters. "From Hawaii With Love" airs Thursdays at 3 PM Pacific / 5 PM Central / 6 PM Eastern on the VoiceAmerica Variety Channel. To access the show, log on at http://www.modavox.com/voiceamericavariety. All shows will be available in Jenny Fujita and Joy Koerte's Content Library on the VoiceAmerica Variety Channel for on-demand and podcast download.

The VoiceAmericaTM Network offers the latest conversations in a talk radio format, providing education, interaction, and advice on key issues live, on demand as well as through pod cast download. If interested in hosting a talk radio show on VoiceAmerica Network, contact Jeff Spenard, President of Internet Radio at 480-294-6417 or at jeff.spenard @ modavox.com.

Contact Executive Producer Sarah Ramos at 480-294-6418 for advertising / sponsorship information or other show details.

About VoiceAmerica / Modavox:

(OTC.BB MDVX), Modavox is the leading producer and distributor of online talk radio content, streaming approximately 250 hours of live programs and scheduled replays weekly on its Modavox VoiceAmerica Network (http://www.voiceamerica.com). Modavox, Inc. (http://www.modavox.com) is a pioneer in internet broadcasting, producing and syndicating online audio and video, and offering innovative, effective and comprehensive online tools for reaching targeted niche communities worldwide. Through its patented Modavox technology, Modavox delivers content straight to desktops and Internet-enabled devices. Modavox provides managed access for live and on-demand internet broadcasting and syndication, content management, online meetings, event management, enterprise communications and distance learning.

Forward-Looking Statements:

This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause Modavox's actual results to differ materially from those currently anticipated, including the risk factors identified in Modavox's filings with the Securities and Exchange Commission.

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