Yodle raises $10 million, round C

Sindya Bhanoo — Mon, 12 Jan 2009 15:39:55 -0800

The online advertising company Yodle announced today that it has completed a $10 million round of Series C funding.

All Things Digital's Peter Kafka says it's a sign that investors are still interested in putting money into Web start-ups.

Still, the C round funding, Kafka points out, is less than what Yodle raised in their B round ($12 million) a year ago.

The New York-based Yodle reported phenomenal growth this year - citing a 700% year-over-year revenue growth from 2007. The company has grown from nine employees in 2006 to 250 today. They also have 5,000 customers, up from 125 in 2006.

The company's target customers are mom-and-pop businesses from a variety of sectors, including spas, plumbers, movers, and independent lawyers. Yodle helps the businesses establish a stronger web presence via search engines such as Yahoo and Google.

"That’s one of the great untapped sectors of online advertising, so if the Yodle folks can crack it, they deserve as much as they can get, downturn or not," Kafka wrote.

The Industry Standard - Yodle raises $10 million, round C - Comments

Yodle raises $10 million, round C