New investment to be used to expand platform that instantly syncs business listings
New York June 12, 2012 Yext, the company that syncs business listings on 50+ publishers, today announced a $27 million Series E investment led by Marker, a new fund launched by Rick Scanlon, the founder of Crescent Point Capital Group. Also participating in the round are CrunchFund and existing Yext investors, Sutter Hill Ventures, Institutional Venture Partners (IVP), and WGI Group. The capital will be used to expand the Yext platform.
Today is a watershed moment for both Yext and anyone who's ever found wrong information about a business online, said Howard Lerman, Yext co-founder & CEO. By enabling businesses to instantly update their listings, end users find up-to-date info on our partner sites. We are delighted to welcome our new partner Marker as we expand our platform to synchronize the world's local information everywhere.
Yext has experienced explosive growth over the past year, now powering local information for 50,000 businesses on 50 sites. Since September, Yext has powered 950,000 distinct location updates, saving millions of outdated local search results from appearing.
Yext is solving a huge problem with the potential to serve over 20,000,000 businesses in the US alone. The company has a market-leading product, a proven management team, and sits in the intersection of local advertising and Software-as-a-service (Saas), two of the largest and fastest growing markets in the technology industry, said Richard Scanlon of Marker. We're very excited to support their rapid expansion.
In just a short amount of time, Yext has established itself as one of the fastest growing companies in the New York Tech scene and has proven to be the category leader. said Michael Walrath, of WGI Group and Yext chairman. This investment validates a huge bet to transform the company.
###
About Yext
Yext (http://www.yext.com) provides amazing local search results with PowerListings, a local information hub that syncs listings across a network of premium sites and mobile apps. With Yext PowerListings, small and large businesses can quickly and easily update their business information, photos and specials from one central location. Today, Yext PowerListings syncs information for over 50,000 locations. The company was founded in 2006 by Howard Lerman, Brian Distelburger and Brent Metz.
About Marker
New York based Marker LLC (www.marker-llc.com) is a new investment firm founded by Rick Scanlon and Thomas Pompidou focused on investments in high growth companies with the potential to be market leaders. Mr. Scanlon is a founding and managing partner of Singapore based Crescent Point Group, a leading Asian private equity firm. Mr. Pompidou is a partner of Crescent Point Group. For more information, please contact info@marker-llc.com.
About CrunchFund
CrunchFund is an early-stage venture capital firm founded by Michael Arrington, Patrick Gallagher, and MG Siegler. The fund invests in and works with information technology companies at any stage but is primarily focused on seed and early-stage investments.
About Institutional Venture Partners (IVP)
With $3 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. The partnership is currently investing IVP XIII, a $750 million later-stage fund focused on investments in rapidly growing technology and media companies. Founded in 1980, IVP has invested in over 300 companies, 90 of which have gone public. IVP is one of the top performing firms in the industry and has a 31 year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight (HPQ), Aspect Communications, ComScore (SCOR), Concur Technologies (CNQR), Digital River (DRIV), Dropbox, HomeAway (AWAY), Juniper Networks (JNPR), Kayak, LegalZoom, LivingSocial, MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Seagate (STX), Shazam, Synchronoss (SNCR), Tivo (TIVO), Twitter, and Zynga (ZNGA). For more information, visit http://www.ivp.com or follow IVP on Twitter: http://twitter.com/ivp.
About Sutter Hill Ventures
Sutter Hill Ventures is a venture capital firm that finances technology-based start-up and early-stage companies that pioneer products or services in growth markets, especially those in information technology and health care. Founded in 1964, it is one of Silicon Valleys original venture capital firms. For more information about Sutter Hill Ventures, please visit www.shv.com.
About WGI Group
WGI Group (http://www.wgifund.com/) provides early stage capital to internet entrepreneurs. Founded and managed by experienced internet entrepreneurs Michael Walrath, Noah Goodhart and Jonah Goodhart, WGI Group has invested in over 13 companies since 2007, most notably Right Media, which was acquired by Yahoo! in 2007.
Most recent headlines
04/08/2024
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet, a leading technology and service provider for media-rich organizations, a...
08/05/2024
zweiB updates to latest version of R&S CLIPSTER Specialist in deliverables for cinema, events and trade shows
Rohde & Schwarz, a global leader in broadcast...
07/05/2024
NAB Show 2024
Utah Scientific rocked the 2024 NAB Show in Las Vegas, unveiling two new game-changers in video signal management.
Our primary focus this yea...
07/05/2024
7th May 2024 The nations favourite comedy channel Gold has teamed up with the ma...
07/05/2024
There's something special about summer. We're not sure whether it's the warmer weather, the longer days, or something else a bit more magical, but s...
07/05/2024
NITV appoints Michael Rennie as Presenter and Senior Producer for NITV News
Media releases
NITV has announced the appointment of Michael Rennie as Presenter...
07/05/2024
The ability for line-of-site tactical voice and data networks to seamlessly traverse over Satellite Communications is an emerging requirement to assure warfight...
07/05/2024
On April 5, 2024, the L3Harris Avionics Products Repair Station (NN2R037L) in Gr...
07/05/2024
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({ content_source:......
07/05/2024
Share this article
width=32 height=32 loading=lazy data-lazy-src=https://apogeedigital.com/app/themes/juniper-theme/src/img/icons/facebook-purple.svg />
wid...
07/05/2024
BURBANK, Calif. The Walt Disney Company has finally delivered some from profits from its hefty streaming investments, with the second quarter of its fiscal year...
07/05/2024
Bonnie Hammer, vice chair of NBCUniversal, and Jen Psaki, MSNBC host, read from their new books at the 92nd Street Y in Manhattan Wednesday, May 8. Hammer's...
07/05/2024
Paramount Plus has ordered the series Crutch, a comedy that is a spinoff of CBS comedy The Neighborhood. Tracy Morgan stars....
07/05/2024
Edward J. and Melody Thomas Scott and Lidia Bastianich will receive Lifetime Achievement honors at the 51st annual Daytime Emmy Awards in June, the National Aca...
07/05/2024
The 2024 Giants of Broadcasting & Electronic Arts luncheon and awards ceremony happens in New York November 12, and the honorees are Al Roker, weather and featu...
07/05/2024
Dabl Network has added The Wayans Bros., The Jamie Foxx Show, Living Single and Everybody Hates Chris to its weekday and weekend lineups. Those shows join the l...
07/05/2024
After winning a proxy fight, The Walt Disney Co. said its entertainment business turned a profit and added subscribers in its fiscal second quarter....
07/05/2024
NBA Entertainment is closing out the second season of its series Pass the Rock with a look at Victor Wembanyama of the San Antonio Spurs, the league's rooki...
07/05/2024
Syncbak, which provides stations with streaming capabilities, said it is rebranding as Zeam Media....
07/05/2024
Samsung has made a deal with Magnolia Pictures that will bring titles from Magnolia to the Samsung TV Plus free streaming platform....
07/05/2024
Amazon, which has added commercials to Amazon Prime Video, is rolling out new interactive ad formats that will enable advertisers to engage streamers and sell s...
07/05/2024
Syncbak, a 15 year-old provider of streaming tech for local broadcast stations has rebranded itself, adopting the name of its streaming service launched in Febr...
07/05/2024
POST Luxembourgs journey with TAG Video underscores how finding a vendor who und...
07/05/2024
PORTSMOUTH, N.H. New findings from Hub Entertainment Research provides extensive data showing that the majority of consumers will opt for lower cost ad-supporte...
07/05/2024
NEW YORK The Library of American Broadcasting Foundation (LABF) has announced th...
07/05/2024
CBS News has named Lindsey Reiser an anchor and correspondent for CBS News 24/7, the network's live, streaming news service. Reiser, who was most recently a...
07/05/2024
NEEDHAM, Mass. After more than two years of decline, worldwide tablet shipments posted modest year-over-year growth of 0.5% in the first quarter of 2024 (1Q24),...
07/05/2024
ESPN is reporting that April was a record-setting month as the network delivered its best April prime time audience on record, dating back more than 30 years....
07/05/2024
WASHINGTON, D.C. The National Association of Broadcasters (NAB) has announced that Kirsten Donaldson has joined NAB as vice president of public policy. Donaldso...
07/05/2024
The Bulls are back home again this week from May 7-12! Don't miss out on any...
07/05/2024
SVG Sit-Down: AWS's Julie Souza on the Cloud and AI in Broadcast-Content Cre...
07/05/2024
Deloitte Analysts Peter Giorgio and Michael Vovk: Sports Properties Need To Reth...
07/05/2024
University of Texas' Jeff Hanel to Keynote 16th-Annual SVG College Summit Industry vet to discuss uniting live and creative in athletic department media arm...
07/05/2024
Premier League trials RefCam during Crystal Palace v Manchester United fixture By George Bevir
Tuesday, May 7, 2024 - 09:34
Print This Story
In a Premier ...
07/05/2024
CBS Sports Previews PGA Championship Plans; 125+ Cameras Include FlyCams, Bunker...
07/05/2024
Rohde & Schwarz brings cutting-edge solutions to TECNOSEC and DRONExpo 2024 Rohde & Schwarz will showcase its innovative portfolio at TECNOSEC and DRONExpo 20...
07/05/2024
Back to All News
Five New Games Join Netflix in May
Netflix Staff
Entertainment
07 May 2024
Global
Link copied to clipboard
Five new games are launching ...
07/05/2024
Back to All News
Top 10 Week of Apr. 29: Baby Reindeer' Holds Strong; Hee...
07/05/2024
Home News & Press Blancco Wins 2024 SEAL Business Sustainability Award
Blancco Wins 2024 SEAL Business Sustainability Award May 07, 2024
Blancco's v...
07/05/2024
CUPERTINO, CALIFORNIA Apple today unveiled the all-new Logic Pro for iPad 2 and Logic Pro for Mac 11, delivering breakthrough professional experiences for songw...
07/05/2024
Apple's new Privacy Manifest requirement mandates that apps explicitly disclose the privacy-related data they collect, the purposes for this collection, and...
07/05/2024
Taylor Swift's Eras Tour arrives to shake up EuropeHaving shaken four continents, Taylor Swift's Eras Tour finally brings the biggest pop culture icon o...
07/05/2024
Isiphetho: Destiny' beats Scandal!'E.tv's latest telenovela Isiphetho: Destiny' beat the channel's longest running soapie, Scandal!' ...
07/05/2024
Now there's HELP for ex-prisoners to find work in South AfricaNew initiative for ex-prisoners to find work in South Africa proves it's never too late fo...
07/05/2024
Tonight on Scandal: Cohen is pulled into keeping a secretDon't miss Tuesday, 7 May's riveting episode of South African soapie Scandal! on e.tv on DStv c...
07/05/2024
Skeem Saam: Monday's episode, 6 May 2024 [video]Missed an episode of Skeem Saam? No problem! Watch the latest episode of your favourite South African soapie...
06/05/2024
By Ilyse McKimmie
Now, more than ever
That's a phrase so often used in the last few years that I've come to dread seeing it in notes like this one. A...
06/05/2024
alt= class=wp-image-12099 data-lazy-src=/wp-content/uploads/2024/05/Blog-Exabyte-Storage-Demand-960x540-1.jpg/> Demand for storage solutions has reached unprece...
New investment to be used to expand platform that instantly syncs business listings
