Yodle Raises $12 Million in Financing
Yodle, Inc., a leader in local online advertising and lead generation, announced today that it raised $12 million in a round of financing led by Draper Fisher Jurvetson, with existing investor Bessemer Venture Partners also participating in the round. The new funding is the second round of successful financing for the rapidly growing New York based start-up.
Yodle’s goal is to make buying online ads simple and easy for small businesses and to offer a high-performing, cost-effective alternative to the outdated Yellow Pages, previously the standard for small business advertising.
“Today, 63 percent of consumers primarily search for local businesses online; Yodle is tapping this enormous advertising market to drive customers to businesses in a way that has never been done before. With Draper Fisher Jurvetson’s financing, we will be able to complete our national rollout and offer our services to small businesses across the country,” said Court Cunningham, CEO of Yodle.
Yodle delivers tangible results for its customers, focusing on generating phone calls instead of web clicks. It’s estimated that $1 invested with Yodle results in $8 in additional profit for small businesses such as electricians, lawyers, doctors, roofers and even florists.
Andreas Stavropoulos, managing director at Draper Fisher Jurvetson, added: “What impressed us about Yodle was its ability to deliver a high and steady volume of quality consumer phone calls to small businesses in a simple yet reliable way. Customer loyalty to the Yodle product is higher than that of any competitor in the market we have seen.”
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