Yodle completes $10 Million series C financing
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New York: Yodle, a player in local online advertising and lead generation, has completed a $10 million Series C funding. The round was led by JAFCO Ventures, joined by Draper Fisher Jurvetson Growth and existing investors Draper Fisher Jurvetson and Bessemer Venture Partners. The funds will be used to double investment in product and technology innovation as well as to continue a national sales expansion. In 2008, demand for local online advertising fueled growth at Yodle, despite the economic downturn. The New York-based company reported 700 percent year-over-year revenue growth from 2007, ended 2008 with 250 employees nationally - up from 9 in 2006, - Yodle now boasts approximately 5,000 customers - up from 125 in 2006. Yodle CEO Court Cunningham said, "While our competitors retrench in the face of financial adversity, we are stepping up investment in our customers' success. This new funding round will accelerate product and technology development to provide increased online exposure and even stronger results for our local business owner clients."

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