Lightpost Digital Secures Funding Led by Canal Partners and DWP Investments
With the investment, the digital marketing startup is planning to add more than 40 to its national sales team in 2017
SAN DIEGO, Calif., March 20, 2017-- Lightpost Digital, a San Diego-based startup whose mission is to empower business owners by providing affordable online marketing solutions, today announced a new round of funding from Canal Partners and DWP Investments. The company will allocate the funding for specific expansion plans into 2018, with a goal to increase the sales force by more than 40 staff members in 2017, and more than 100 in 2018.
The funding marks a major milestone for Lightpost Digital, which got its exceptional start in the fall of 2015. The company has seen impressive increases in monthly revenue, exceeding 250 percent year-over-year growth. That number is expected to grow to more than 300 percent in 2017.
"Last year we focused on proving our business model, developing systems, and hiring a team of marketing experts for our operational team," said Jimmy Hendricks, CEO of Lightpost Digital. "We are now focused on building the largest digital marketing sales force in the US to help us provide the most affordable marketing services available to business owners today."
Lightpost Digital offers six principal services proven to be the most effective marketing solutions for local businesses, including: Wordpress website development, SEO, Google AdWords management, Facebook ad management, business listings, and review building and monitoring. A key differentiator for the digital marketing company, and how it's been able to keep the expense to business owners low, is its use of technology to automate account management.
"We rely heavily on systems and technology to manage every aspect of the account without missing the element of the human touch," Hendricks said. "That's where we've seen other low-cost providers miss the mark, but we've figured out how to leverage technology to streamline account management so our team can focus on strategy and getting results."
Lightpost Digital's use of proprietary technology and systems has also enabled the company to scale rapidly. The capital injection will further enable the team to build a robust national sales team, via aggressive recruiting and training, which is key to the company's business model and sales growth.
"As investors and past small business owners, we were immediately attracted to Lightpost Digital's business model," said Todd Belfer, Managing Partner of Canal Partners. "We knew the team was onto something when we learned a small business could hire Lightpost Digital to manage their marketing for less than a $1,000 per month without compromising on quality. Coupling this with the experience of founders Jimmy Hendricks and Patrick Dillon, we anticipate they'll grow into a successful national company."
Lightpost Digital's founders and fund managers expect the company to become cash-flow positive with profitable returns by close of 2017.
About Lightpost Digital
Lightpost Digital was founded in 2015 in San Diego, as a division of the founder's original company, Deal Current Network. Lightpost Digital's mission is to empower business owners by providing affordable and transparent online marketing solutions. Lightpost's marketing operations team is based in San Diego where they centralize their marketing services experts to fulfill the needs of clients throughout the U.S. The company's sales force has expanded its business operations beyond San Diego, to include Phoenix, Salt Lake City, Chicago, and New York. To learn more about the company's services, management, or career opportunities, please visit: http://www.lightpostdigital.com.
About Canal Partners
Canal Partners is a Venture Capital firm that provides professional investor services and capital to B2B software and internet technology companies. Their focus is on organizations that have proven products, services, and markets. Canal Partners is looking to create and increase value for highly scalable, revenue-generating, growth-oriented companies that are seeking an investment commitment of $1 to $3 million. For more information about them, please visit: http://www.canalpartners.com
About DWP Investments
DWP Investments is a Venture Capital Firm that invests in early stage software companies, located in Scottsdale, Arizona. The firm focuses primarily on B2B companies in the regions of Arizona, Southern California, and Colorado. Their major investments are with companies that have proven management teams, domain experience, consumer acceptance, and capital efficient business models. For further information, please visit: http://www.dwpinvestments.com/.
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