Got Funds? Yext Rounds Up Another $10 Million

Written on
Jul 29, 2011 
Gavin Dunaway  |

ADOTAS – Local business listing management service Yext has raised $10 million in a Series D round of funding led by WGI Group, the investment vehicle of former Right Media founder, President and CEO Mike Walrath. Oh, and he’s not just an investor — Walrath is the chairman as well, a position he assumed in March. Walrath first jumped on board the Yext train during a $25 million Series C round back in October 2009. Existing investors IVP, Ron Conway’s SV Angel, and Sutter Hill Ventures also participated in the round.

Originally a pay-per-call service, Yext introduced local search dashboard PowerListings (known as Tags at launch) last year to much fanfare. The service allows local businesses to control their listings across various local search products (Yelp, Google, CitySearch, etc.,) and maintain a uniform and correct appearance. Also, the platform enables these businesses to offer specials and discounts, as well as send different messages to consumers from platform to platform.

Yext CEO Howard Lerman wrote on the company blog that Yext has signed up 4,000 (paying) clients in the last 100 days. The new funding will be used to further accelerate adoption of PowerListings, making it “an essential system for every business,” he writes.

Gavin Dunaway is Editor, U.S. at AdMonsters, a leading trade publication, event producer and service provider for the online advertising industry. Previously, he had been Senior Editor of Adotas, where he arrived after years of ping-ponging around various industry publications. This Washington, D.C. native and George Mason University graduate also enjoys playing electric guitar so loud that the walls shake.

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