Tag Archives: Dennis Phelps
Sugar Inc. Raises $15 Million From Sequoia Capital and IVP
Sugar Inc. is a women-focused content website that has raised $15 million in a new round of funding from Institutional Venture Partners (IVP) and Sequoia Capital. Sugar Inc. has raised a total of $46 million thus far and they plan on using this round of funding on acquisitions and international growth. One of Sugar’s top websites is PopSugar.com. Rumor has it that Yahoo! Inc. (NASDAQ:YHOO) was interested in acquiring Sugar Inc. However Brian and Lisa Sugar, the husband and wife co-founders wanted to remain independent. Below is the full press release:
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Yext Raises $25 Million From Sutter Hill Ventures And IVP
Yext is an online yellow pages service that sells click to ads. The company claims that they have 20,000 customers are connected to Yext Calls. The company has raised $25 million led by Institutional Venture Partners. Sutter Hill Ventures also participated in this round of funding. Yext claims to be pulling in $20 million in revenues this year.
Yext was founded in 2006 and they have partnered with publishers by installing Yext Numbers. Yext Numbers is a local search monetization platform. Yext partners include YellowPages, Topix, and Local.com. Yext uses IBM’s speech-to-text recognition to keep track of calls for billing. Yext is led by Howard Lerman and Brian Distelburger. Distelburger was the COO of CDS and Lerman was the COO of Datran Media.
“We are confident that Yext will become a leader in local web-based advertising,” stated IVP General Partner Dennis Phelps. “Howard, Brian and Brent’s company has the potential to solve this huge problem by focusing on advertisers as users.” Phelps is now a board member at Yext.