$10 million to Yodle about

The New York-based company, which helps businesses generate leads and power local ads, is growing fast, executives say, and a fresh Series C round will help it grow even faster.

Yodle, a New York-based company that helps small businesses generate leads and power local advertisements, on Monday announced that it has raised a $10 million Series C funding round.

Led by Jafco Ventures, the round was completed with contributions from the Draper Fisher Jurvetson Growth Fund, and previous investors Draper Fisher Jurvetson and Bessemer Venture Partners.

The reason for raising the money? According to a release, it's because Yodle is growing fast and plans to expand further. At the end of 2008, the company had 250 employees and 5,000 customers, and reported 700 percent revenue growth from 2007.

"It's been a watershed year for Yodle, and thanks to our incredible team working hard to deliver for our customers, we expect that growth to continue in 2009," CEO Court Cunningham said in the release. "While our competitors retrench in the face of financial adversity, we are stepping up investment in our customers' success. This new funding round will accelerate product and technology development to provide increased online exposure and even stronger results for our local business owner clients."

About the author

Caroline McCarthy, a CNET News staff writer, is a downtown Manhattanite happily addicted to social-media tools and restaurant blogs. Her pre-CNET resume includes interning at an IT security firm and brewing cappuccinos.


Join the discussion

Conversation powered by Livefyre

Show Comments Hide Comments
Latest Galleries from CNET
The best 3D-printing projects of 2014 (pictures)
15 crazy old phones from a Korean museum (pictures)
10 gloriously geeky highlights from 2014 (pictures)
2015.5 Volvo XC60: updated tech, understated design
Busted! CNET readers show us their broken devices (pictures)