SOURCE: Signpost

Signpost

November 19, 2013 08:35 ET

Signpost Secures $10 Million in Series B Financing to Revolutionize Digital and Mobile Marketing for Small Businesses

OpenView Venture Partners Joins Spark Capital, Scout Ventures, and Others in Oversubscribed Round; New Capital to Fuel Product Development and Expansion in Strategic Markets

NEW YORK, NY--(Marketwired - Nov 19, 2013) - Signpost, the cloud platform that makes digital and mobile marketing simple and effective for small and medium-sized businesses (SMBs), today announced that it has raised an additional $10 million in Series B funding from OpenView Venture Partners, Spark Capital, Scout Ventures, and investor Jack Herrick. Signpost has received more than $15 million in capital investments to date, including participation from Google Ventures. The company will use the proceeds to accelerate product development and go-to-market activities for its industry-leading cloud-based SMB marketing automation platform. Dev Ittycheria, Managing Director with OpenView Venture Partners, will join Signpost's board of directors.

"Small and medium business owners know that online and mobile platforms influence most of their new and existing customers," said Ittycheria. "But these same businesses find it nearly impossible to manage dozens of complicated, confusing platforms effectively. Signpost stands out with the unique ability to empower SMBs to leverage cloud-based marketing automation technology, previously only accessible to much larger corporations. With its strong leadership team and high ROI solutions, we believe Signpost will be a major disruptor in the marketing automation category."

With more than 73 percent of consumer purchases driven by online and mobile research, SMBs around the country are rethinking how they can leverage technology to attract and retain customers. Since its founding in 2010, Signpost has become the industry standard for SaaS SMB marketing automation, currently empowering more than 10,000 businesses around the country to optimize their digital presence, convert customers, and effortlessly automate remarketing operations across web and mobile platforms.

"Signpost is at the forefront of a fundamental shift in how consumers and small businesses interact on the web and on mobile devices," said Todd Dagres, founder and general partner at Spark Capital. "Signpost is developing a new world of high-impact, revenue-generating digital marketing automation aimed at businesses with local customers. We look forward to supporting Signpost's continued growth as more SMBs seek to automate marketing operations."

"Signpost is well-positioned to transform the SMB economy. We're building a core set of cloud-based technologies that help SMBs across the spectrum -- from small mom-and-pop shops to medical offices to restaurant franchises -- evolve from traditional advertising and leverage the possibilities of digital and mobile marketing," said Stuart Wall, CEO of Signpost. "This funding round will allow Signpost to continue investing in product and technology and build our teams in Austin, Denver, and New York. We were encouraged by the overwhelming interest in this funding round as well as the renewed commitments of our VC partners and our angel investors. We're excited to partner with the OpenView team."

About Signpost
Signpost is the cloud-based platform that makes digital and mobile marketing simple and effective for SMBs. Signpost automatically creates and optimizes business profiles across dozens of popular websites and mobile apps, and automates customer conversion and remarketing to dramatically increase new and repeat sales. With more than 10,000 signups and 97 percent monthly retention, Signpost is emerging as the clear leader in SMB marketing automation. Signpost is backed by OpenView Venture Partners, Spark Capital, Google Ventures, Scout Ventures and a group of angel investors including Jason Calacanis, Thomas Lehrman, and Jack Herrick. The company is headquartered in New York City with locations in Denver, Austin, and Santa Barbara. Learn more at www.signpost.com.

About OpenView Venture Partners
OpenView Venture Partners (www.openviewpartners.com) is an expansion-stage venture capital fund based in Boston that is focused on high-growth software, Internet, and technology-enabled companies. Through its staff of seasoned operating executives, who collectively bring several decades of technology and management experience to the firm, OpenView is able to help portfolio companies quickly optimize their product, go-to-market, and organizational and operational functions. Founded in 2006, the firm invests globally and has approximately $445 million in total capital under management.

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Read the blog: blog.signpost.com
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