Yext raises $50 million in funding with $525 million valuation
Yext is a company that enables businesses to update location-related information on multiple websites. Yext helps businesses manage local listings and ad campaigns across the web. Founded in 2006, Yext offers a YellowPages-like service for small businesses and Fortune 100 companies. The company was founded by Howard Lerman, Brian Distelburger and Brent Metz.
The company has just raised a $50 million Series F round of funding with a $525 million post-money valuation led by Insight Venture Partners with participation from Marker, Institutional Venture Partners, and Sutter Hill Ventures.
Yext has over 300,000 customers and revenue has grown 62% last year. The company hit $34 million in 2013 revenue and is expected to generate around $55 million in 2014 based on its current run rate. Yext will be using the funding to expand internationally and plans to go public in 2015.