Yext, a company that helps businesses manage local listings and ad campaigns across the web, has raised a $US50 million Series F round of financing. The round gives Yext a $US525 million post-money valuation, up from a $270 million valuation in 2012. It was led by Insight Venture Partners’ Deven Parekj with participation from Marker, IVP and Sutter Hill Ventures.
The New York-based company has more than 300,000 customers. Its revenue grew 62% last year, from $US34 million in 2013 to more than $US55 million in 2014. Yext plans to use the funding to expand further internationally and prepare for a 2015 IPO.
Howard Lerman, Brian Distelburger and Brent Metz co-founded Yext in 2006; their goal is to get perfect location information in every hand.