What LocalVox’s $7.4 Million Series A Funding Means
Yesterday we announced that LocalVox has secured our Series A funding led by Talus Holding, an organization that is committed to building on it’s success in local media, . Talus Holdings is principally owned by GSO Capital Partners LP an affiliate of Blackstone (NYSE: BX). We are very excited and they will be tremendous partners for us.. Here are some amazing things that the press had to say about us over the past week:
“LocalVox may be set to forever impact the way we distribute and gather information about our favorite local spots.” – Business Insider
“Big time marketing muscle for small businesses.” – WIRED magazine
“Top 6 Fast Growing Tech Company.” – Forbes
What was missing in all the praise of the accomplishment is our even greater commitment to keeping local online marketing simple, effective and affordable for local businesses and for our partners, easy to sell. The funding is a responsibility to grow out this vision, improve what we provide to our current clients and help ever more businesses who struggle with local SEO, social media, customer loyalty, mobile marketing and much more. And we are very excited about the path ahead.
With this new funding, LocalVox is committed to:
Further invest in and expand our industry-leading products. Local online marketing applications have to be simple enough for local businesses to use and we need to provide world class support and ongoing education and impact ROI. While keeping this lens of simplicity, LocalVox will make big strides in both mobile marketing, and social media and social reputation management in the next months. We are tremendously excited about the potential of these marketing channels and we believe that every local business should have an effective strategy for them, not just big brands. Our goal is to democratize the use of these marketing tools to the advantage of local businesses. We have some major product releases coming. Get ready!
Expand via our Partner Program. Local publishers and directory providers are struggling to find a viable long term solution to declining print revenue. However, they are poised to capture a lion’s share of the vast local online marketing market because they have established brands, community ties, local sales forces and great content. In the process, they can move to predictable recurring revenue streams with high retention rates and a low cost of sales. Most importantly, they can offer a solution vastly different than PPC which is hamstrung by higher cost and lower ROI over time. Just yesterday, the New York Times highlighted this fact by writing a lead article on small companies seeking alternative to Par Per Click. Our solution becomes more valuable for their customers over a longer period of time. Over the next months, you will see LocalVox launch new markets with notable partners to help create better revenue opportunities for partners big and small. That includes local marketing and PR agencies looking to provide better services for their clients.
Become a National Resource for SMB’s. Although we have clients throughout North America including California, Minnesota, Texas, Florida, Canada and even Jamaica already, we are beginning to expand our focus beyond our core markets to help more local businesses across the US. With this expanded national push, we hope to get the power of LocalVox in many more businesses hands to help them become more successful.
Like all of our previous accomplishments, this will take the hard work, passion and creativity of the entire LocalVox team, to whom I am extremely grateful. LocalVox is a tight knit family of extraordinary people and as we grow, we are equally committed to their personal growth. Needless to say, we are all very excited about the path ahead.