Yext raises $25 Million to accelerate growth

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New York: Yext, a local internet advertising company has raised $25 million in funding led by Institutional Venture Partners (IVP) with Sutter Hill Ventures, which had also led previous investments. The funding will be used to accelerate the growth of pay per action phone calls. "We plan to aggressively grow the company and the technology so we can continue to provide the best local advertising experience on the web," said Howard Lerman, CEO and Co-Founder, Yext. The company's service 'Yext CallsTM' is a system to send local advertisers pay per action phone calls. This technology understands consumer actions that occur on phone calls and charges local businesses only for relevant calls. "Local advertising is very challenging, and the technology developed by Yext is significant. The company delivers local advertising of exceptional quality to its customers, while also driving high yield on local search inventory for its publishing partners," said Andy Sheehan, Managing Director, Sutter Hill Ventures. Alok Bhushan is the Chief Financial Officer of Yext.

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