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Yext Raises $50 million at a $525 Million Valuation And Eyes A 2015 IPO
Yext Raises $50 million at a $525 Million Valuation And Eyes A 2015 IPO
Alyson ShontellJun 4, 2014, 19:30 IST
Yext, a company that helps businesses manage local listings and ad campaigns across the web, has raised a $50 million Series F round of financing. The round gives Yext a $525 million post-money valuation, up from a $270 million valuation in 2012. It was led by Insight Venture Partners' Deven Parekj with participation from Marker, IVP and Sutter Hill Ventures. The New York-based company has more than 300,000 customers. Its revenue grew 62% last year, from $34 million in 2013 to more than $55 million in 2014. Yext plans to use the funding to expand further internationally and prepare for a 2015 IPO.Howard Lerman, Brian Distelburger and Brent Metz co-founded Yext in 2006; their goal is to get perfect location information in every hand.
