What Company is About:
ReachLocal, a company that provides online advertising services for small businesses.
How Much They Got From VCs:
They just gotten a massive $55.2 million in a round of funding. The round was led by Rho Ventures, with Galleon Crossover Fund also participating, and VantagePoint Venture Partners as return investors. This recent round of funding comes after the $12.7 million the local ad company has raised since its inception in 2004. This gives ReachLocal an estimated valuation at $305 million, which is $55 million more than its previous valuation.
According to LocalOnliner, this comes on top of the $12.7 million it has raised since its founding in 2004. The new funds give ReachLocal an estimated valuation of $305 million, at a pre-money valuation of $250 million, the post says, though we haven’t been able to confirm that. It sells for sites such as Yahoo (NSDQ: YHOO), Google (NSDQ: GOOG), MSN, AOL (NYSE: TWX) and Superpages.com.
More at:http://www.reachlocal.com/register/login.php
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