Strong Growth Followed by a Venture Capital Financing for Online Advertiser
March 27, 2010
On February 16th, California based WebVisible announced that it raised $20 million in a Series C round of venture capital investment. The press release informed that the venture funding round was led by Focus Ventures and Adams Street Partners, with participation of Redpoint Ventures and Sutter Hill Ventures. WebVisible is a SaaS local online advertiser that is considered to be part of the top three Search Engine Marketing (SEM) companies along with Yoodle and Reach Local. The company’s press release mentioned that WebVisible provided local online marketing products to more than 100,000 SMB customers from more than 3,000 industries in 14 countries. The company also announced strong growth in 2009 with 113% year-over-year increase in revenue. According to the press release, the company’s goal was to keep that momentum by using the expansion capital to further enhance its products and fuel its global expansion.