Local online ad and lead gen provider Yodle raises a $10 million

ocal online ad and lead gen provider Yodle has raised a $10 million fourth round funding. The round, raised from existing investors, was led by JAFCO Ventures and joined by Bessemer Venture Partners, Draper Fisher Jurvetson, and Draper Fisher Jurvetson Growth. The funding round brings Yodle’s total financing to $38 million. The New York company, which raised a $10 million third round little more than a year ago, didn’t say what the proceeds would go towards.

The company has been concentrating on building out its services nationally, as well as adding new features and technology to its existing system. The economic downturn has made lead gen services more desirable, since customer acquisition is considered evermore crucial. Yodle CEO Court Cunningham claimed the company saw triple-digit revenue growth last year as a result of its expanded services nationally, including the addition of 75 hyperlocal ad nets to its system. However, the company didn’t provide details about the exact amount of the revenue in 2009 and the year before.

Source : paidcontent.org, 1/02/10