Local Market Launch Closes $1 Million Funding Round, Led by Rincon Venture Partners
Veteran Internet executives Jim Zarley and Steve Umberger participate and join the company's board of directors.
SANTA BARBARA, Calif., March 25, 2014-- Local Market Launch, has secured $1 million in new funding, led by existing investor Rincon Venture Partners, with participation by Jim Zarley, executive chairman, Conversant (formerly ValueClick); and Steve Umberger, former EVP of marketing for ValueClick, investor in Highway Technologies and IBM veteran. With this new financing, Zarley joins Umberger on the board.
The funds will enable Local Market Launch to scale the company in response to market demand for its local search and business listings management solutions, and continue to grow local media channel partnerships for its partner-branded platform.
"We are delighted by the increasing adoption of our local presence solutions by businesses and channel partners," said Brian Coryat, founder and CEO, Local Market Launch. "Our success would not be possible without the continued support of our largest industry marketing partners and our investors. The participation of two highly successful Internet veterans in Steve and Jim continues to validate our model and brings two valued colleagues and advisors from my days leading ValueClick. Each adds tremendous digital media industry expertise and a new dimension to our board."
"The local search space is expected to reach nearly $7 billion in revenues in 2014, according to research firm BIA/Kelsey, representing a tremendous market opportunity for local presence solution providers," said Steve Umberger. "Local Market Launch has laid a strong foundation—from its technology to its sales and operations—positioning it well to capitalize on this market opportunity."
"Local Market Launch is changing the way local search and business listings management is done," said Jim Zarley. "I'm excited by its potential to transform the local search experience—for businesses, consumers and local media—and am delighted to offer my support."
Since its launch in 2012, Local Market Launch's local online presence solutions have gained significant traction with Yellow Pages, newspapers, digital agencies, as well as national brands, and multi-location businesses that are targeting local consumers. This adoption is driven by Local Market Launch's robust technology, which reaches over 98 percent of all digital searches, helping businesses become easily findable—online and on mobile.
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). Learn more at www.localmarketlaunch.com.
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