Local Market Launch Raises $1.5 Million in Series A Funding, Bringing Total Capital Raised to $2.7 Million
Funds will be used to accelerate the development and marketing of the company's business listings management and local presence solutions for national brands, multi-location businesses and SMBs
SANTA BARBARA, Calif., May 1, 2013 /PRNewswire/ -- Business listings management startup Local Market Launch, launched in 2012 by ValueClick founder Brian Coryat, has secured $1.5 million in Series A funding from Rincon Venture Partners, adding to $1.2 million of founder contributed seed funds, bringing total capital raised to $2.7 million.
The funds will be used to support rising demand for Local Market Launch's local presence solutions by multi-location national brands and small and medium-sized businesses. Local Market Launch will also accelerate development and delivery of its partner-branded solutions for local media channel partners.
A recent study by Google/Nielsen revealed that 73 percent of mobile searches trigger additional action and conversions, such as store visits, calls and purchases. Accurate business listing information is the unassuming workhorse underlying much of today's local commerce, which is being driven by mobile and online search.
"Despite the digital revolution of the past 20 years, many businesses, especially small local establishments, have largely been left behind," said John Greathouse, general partner, Rincon Venture Partners. "As such, there is a tremendous opportunity for Local Market Launch to become the trusted business listings management partner for the world's small, local businesses, and for national brands targeting locally. When Brian founded ValueClick, he ingrained in the organization the principles of over-delivering value to its customers by consistently developing killer technology and providing unparalleled service. We believe that Local Market Launch will likewise achieve market dominance by following this simple, but difficult to execute, strategy."
Coryat founded Local Market Launch to raise the level of quality in business listings data and service. He brings rich experience earned at the forefront of the Internet marketing industry, where he has led several successful ventures, including online advertising company ValueClick, for which he was awarded the Ernst & Young Entrepreneur of the Year Award in 2000 for ecommerce.
"It's time to take business listings management to a new level of accuracy and trust, and Local Market Launch is committed to raising the bar," said Coryat. "We're excited by the tremendous interest we're receiving from national brands, multi-location businesses and franchises, as well as channel partners, and we're truly gratified by Rincon Venture Partners' confidence in our technology and our vision for the company. With their backing, we will be able to accelerate our growth and fulfill our mission, which is grounded in our commitment to the highest quality standards for our data and customer service."
About Local Market Launch
Local Market Launch delivers business listings management and local presence solutions for national brands, multi-location businesses, franchises, and local SMBs through a growing network of channel partners, including directory publishers, newspaper publishers, broadcast media companies, digital media agencies and certified marketing representatives (CMRs). The company is delivering new standards of quality and service to business listings management that combines the best of DIY technology with the quality-controlled ease of a do-it-for-you solution. Learn more at www.localmarketlaunch.com,www.localsearchoptimization.com, on Twitter @LocalLaunch and @LocalSearchOpt, Facebook https://www.facebook.com/localmarketlaunch and Google+.
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