Yext Gets $50M In Venture Funding, Moving It Closer To An IPO

Yext logoGeo-marketing software provider Yext announced on its company blog today it has secured $50 million in venture funding.

CEO Howard Lerman told AdWeek, “This is the last round before we go public.”

Led by Insight Venture Partners and including Marker LLC Institutional Venture Partners and Sutter Hill Ventures, the funding will be used as primary capital to invest in research and development.

Yext says its geo-marketing software helps marketers manage business listings across various platforms, including maps, directory sites, social media and apps:

If you’ve ever found the wrong information in a map, we’ve set out to help you. Yext is there, behind the scenes, bringing you better and better results each day.

The company has plans to go-to-market in Germany, Australia, UK and Canada later this year, followed by Europe and Asia in 2015.

Yext says it expects to be profitable next year, and reports its 2013 revenue was up 136 percent from 2012, reaching $34 million.

Related Topics: Channel: Industry | Internet Marketing Industry | Marketing Tools

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About The Author: is Third Door Media's General Assignment Correspondent, and reports on the latest news and updates for Marketing Land and Search Engine Land. From 2009 to 2012, she was an award-winning syndicated columnist for a number of daily newspapers from New York to Texas. With more than ten years of marketing management experience, she has contributed to a variety of traditional and online publications, including MarketingProfs.com, SoftwareCEO.com, and Sales and Marketing Management Magazine. Read more of Amy's articles.

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