Reports 135% Year-Over-Year Growth
New York, NY (February 1, 2010) – Yodle, a leader in local online advertising and lead generation, announced today that it has completed a $10 million Series D funding round. The round, raised from existing investors, was led by JAFCO Ventures and joined by Bessemer Venture Partners, Draper Fisher Jurvetson, and Draper Fisher Jurvetson Growth. The Series D funding round brings Yodle's total financing to $38 million.
In 2009, Yodle continued triple-digit growth with a 135% year over year revenue increase, making it the fastest growing provider of local online advertising services in the U.S., according to industry analyst Borrell Associates.
Additionally, the company continues to be an industry leader in innovation. In 2009, Yodle significantly expanded its nationwide franchise business (YodleFranchise) by bringing on clients like ServiceMaster and TWO MEN AND A TRUCK®, adding numerous strategic reseller partnerships, and expanding its local advertising network to over 75 hyper-local web publishers.
"We have proven that we have the most cost-effective and efficient marketing platform for small businesses in the market," said Yodle CEO Court Cunningham. "We plan to continue to lead the market in 2010 with increased investment in innovation and new product launches to be announced in the coming months. All of our innovation is focused on driving the highest possible return on marketing investment for our clients."
"We are very proud to continue to support Yodle, a fast-growing and clear leader in the local online advertising space," said Tom Mawhinney, General Partner at JAFCO Ventures. "This round of funding is a testament to the success of Yodle and the value in its offering for local business owners. We expect great things for Yodle this year and in the future."
Yodle, http://www.yodle.com, a leader in local online advertising, connects local businesses with consumers in a process so simple and cost-effective that business owners can’t imagine any other way to advertise. Yodle has developed an integrated approach to signing up and serving local businesses that are transitioning their marketing budgets online. Yodle, is headquartered in New York, NY with a presence in 25 major cities across the United States and has hundreds of employees helping thousands of customers.
About JAFCO Ventures:
Based in Palo Alto, California, JAFCO Ventures is a venture capital partnership focused on companies that are emerging leaders in the communications, Internet, semiconductor and software industries. JAFCO Ventures was formed in 2003 and currently manages more than $350 million in capital. The fund’s charter is to invest in venture opportunities with true breakout potential where JAFCO Ventures can meaningfully add value with capital, the experience of seasoned venture capital investors, and the deployment of our Asia business development team, to help portfolio companies generate revenue from customers in Japan and other parts of Asia. For more information, visit http://www.jafco.com/.
About Bessemer Venture Partners:
Bessemer Venture Partners is a global investment group with offices in Silicon Valley, Boston, New York, Mumbai, and Tel Aviv. As the oldest venture capital practice in the United States, Bessmer has partnered as an active, hands-on investor in Ciena, Ingersoll Rand, Parametric, Skype, Staples, VeriSign, and W.R. Grace. Over the last century, Bessemer Venture Partners and its predecessor funds have invested in more than 100 companies that have gone public on exchanges in Canada, India, London, and the United States. To learn more, visit http://www.bvp.com.
About Draper Fisher Jurvetson:
Draper Fisher Jurvetson is a leading venture capital firm with a global presence through a network of affiliated funds, with offices in more than 30 cities around the world and approximately $6 billion in capital commitments. DFJ's mission is to identify, serve and provide capital for extraordinary entrepreneurs anywhere who are determined to change the world. Over the past twenty years, DFJ has been proud to back over 500 companies across many sectors including such industry changing catalysts as Hotmail (acquired by MSFT), Baidu (BIDU), Skype (acquired by EBAY), EnerNOC (ENOC), athenahealth (ATHN), Focus Media (FMCN), Mobile 365 (acquired by Sybase), xFire (acquired by Viacom), United Online (UNTD), Overture (acquired by YHOO), Interwoven (IWOV), Four11 (acquired by YHOO), Massive (acquired by MSFT), Parametric (PMTC) and Mozy (acquired by EMC).
About Draper Fisher Jurvetson Growth:
Draper Fisher Jurvetson Growth Fund invests in revenue stage technology companies that are expanding rapidly in large markets and are well positioned to be category leaders. Draper Fisher Jurvetson is a leading venture capital firm with global presence through the DFJ Global Network of funds. DFJ’s mission is to identify, serve and provide capital for extraordinary entrepreneurs anywhere who are determined to change the world. The DFJ Network has grown to encompass over 150 venture capital professionals in more than 30 cities around the world, more than 600 portfolio companies funded, and over $6 billion of capital under management. The DFJ Network has produced such notable, industry changing companies as Athenahealth (ATHN), Baidu (BIDU), Skype (acquired by eBay), Focus Media (FMCN), DivX (DIVX), Mobile 365 (acquired by Sybase), Massive (acquired by Microsoft), EnerNOC (ENOC), Feedburner (acquired by Google™), Four11 (acquired by Yahoo), xFire (acquired by Viacom/MTV Networks), Mozy (acquired by EMC), Myfamily.com (acquired by Spectrum Equity Investors), Overture (acquired by Yahoo), Parametric (PMTC), TicketsNow (acquired by TicketMaster), and buy.at (acquired by AOL). http://www.dfjgrowth.com and http://www.dfj.com.
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