Angie's List serves more than 750,000 members in 124 major cities across the United States. It offers consumer ratings on local providers in more than 400 categories of service.

Press Release

INDIANAPOLIS (Dec. 2, 2008) - Angie’s List (www.angieslist.com) announced today that it has welcomed another new investor to its privately held organization.

The Chicago-based Prism Mezzanine Fund invested $6 million in subordinated debt funding, as well as $1 million in equity investment, in the nation’s leading source for local service provider ratings.

"We're thrilled to have Prism on board," said Bill Oesterle, Angie's List CEO and co-founder. "We're closing out the year with three new financial partners and we couldn't be happier to receive this kind of support in these economic times."

Angie's List earlier this year announced investments from Boston-based Battery Ventures ($35 million) and Menlo Park-based Lighthouse Capital Partners ($18 million). Bill Harlan, a partner at Prism, attributed his firm's interest in Angie's List to the company's growth potential.

"This is a company that has a great game plan and the talent to execute," Harlan said. "We're pleased to be on board."

Recognized nationally as an Internet pioneer, Angie's List holds a unique position at the intersection of local search, user-generated content and subscription-based services. Further setting the company apart in the local ratings space is its data integrity process, which maximizes the accuracy and reliability of the information available to Angie’s List members. Angie's List does not allow anonymous postings and service providers cannot add themselves to the List.

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Angie’s List is where thousands of consumers share their ratings and reviews on local service providers in more than 400 different categories. Currently, more than 750,000 consumers across the U.S. rely on Angie’s List to help them find the right professional for the job they need done. Angie's List investors include Aquent, BV Capital, Battery Ventures, Lighthouse and now Prism Capital. For more: www.angieslist.com .

Prism Capital is a niche alternative investment firm with two funds, the Prism Opportunity Fund and the Prism Mezzanine Fund. Its Opportunity fund invests growth capital in expansion stage companies; its Mezzanine fund invests primarily subordinated debt in support of ownership changes and recapitalizations. Prism’s investment team has over 75 years of collective investing experience and currently manages $190 million in assets. Between the two funds, the firm has co-invested with more than 60 other funds. Prism Capital has achieved distinction in the industry by being only the fifth investment company to be granted both equity and subordinated debt licenses by the U.S. Small Business Administration. For more: www.prismfund.com .

Source: Angie's List