NYC-Based Marketing-Tech Company Yext Raises $50 Million
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Marketing-technology company Yext — which makes software for brands to manage local business listings — has raised a $50-million Series F round of funding.
Founded in late 2006, Yext pivoted toward its current business model in 2011. Its software lets corporate customers like Citibank, Equinox, Publix and FedEx update and manage listings for locations across directory sites like Yelp; Google Maps; Facebook; and their owned-and-operated sites, where they might have a store-locator tool, for example.
For the first years of its existence, the company operated a pay-per-call ad business, whereby it promoted customers’ phone numbers across the web and charged for responses. It sold that business off to IAC in 2012 for $30 million, which it reinvested in the current incarnation of Yext.
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