Total amount raised
$115.8 Millions
Latest funding date
6/1/2014
Location
Yext has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The company offers a comprehensive digital presence platform designed to help multi-location brands manage their online presence.
Keep reading to explore the intricacies of Yext's fundraising journey and the investors backing this innovative platform.
What Is Yext?
Yext, founded in September 2006 by Brian Distelburger and Howard Lerman, is headquartered in New York, New York. The company specializes in providing a digital presence platform for multi-location brands, helping them manage and optimize their online presence across various digital channels.
Yext's platform includes tools for managing listings, search, knowledge graphs, reviews, social media, analytics, pages, chat, and enterprise engagement. These tools enable brands to deliver consistent, accurate, and engaging experiences to their customers.
With a workforce of 1001-5000 employees, Yext continues to innovate and expand its offerings, ensuring that brands can effectively manage their digital presence and engage with their audience through AI-powered tools and actionable insights.
How Much Funding Has Yext Raised?
- Seed Round
- Amount Raised: $250K
- Date: November 2006
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the company's core technology and business model.
- Series A
- Amount Raised: $1.8M
- Date: June 2008
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $3.5M
- Date: September 2008
- Lead Investors: Grape Arbor VC, Sutter Hill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance marketing efforts.
- Series C
- Amount Raised: $25M
- Date: October 2009
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and market expansion.
- Series D
- Amount Raised: $10M
- Date: July 2011
- Lead Investors: Michael Walrath
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand customer base.
- Series E
- Amount Raised: $27M
- Date: June 2012
- Lead Investors: Marker
- Valuation at Round: $270M
- Motivation Behind the Round: To support the company's shift to a software-as-a-service model.
- Series F
- Amount Raised: $50.3M
- Date: June 2014
- Lead Investors: Insight Partners
- Valuation at Round: $525M
- Motivation Behind the Round: Pre-IPO financing, international expansion, and continued R&D.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
Total Amount Raised: $117.85M. Current Valuation: $525M.
Key Investors
- Insight Partners
- Details: Insight Partners is a leading global private equity and venture capital firm. They focus on high-growth technology and software companies.
- Investment Focus Areas: Technology, software, internet businesses.
- Notable Investments: Twitter, Shopify, DocuSign.
- Marker
- Details: Marker is a venture capital and growth equity firm. They invest in technology companies at various stages of growth.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: Datorama, Yotpo, Taboola.
- IVP (Institutional Venture Partners)
- Details: IVP is a later-stage venture capital firm. They specialize in rapidly-growing technology companies.
- Investment Focus Areas: Technology, growth equity, later-stage ventures.
- Notable Investments: Slack, Snap, Dropbox.
- Sutter Hill Ventures
- Details: Sutter Hill Ventures is a venture capital firm. They invest in early-stage and growth-stage technology companies.
- Investment Focus Areas: Technology, early-stage, growth-stage.
- Notable Investments: Pure Storage, Snowflake, Sumo Logic.
- Michael Walrath
- Details: Michael Walrath is an entrepreneur and investor. He has a background in digital advertising and technology.
- Investment Focus Areas: Digital advertising, technology, startups.
- Notable Investments: Not publicly disclosed.
What's Next for Yext?
Yext is poised to capitalize on the burgeoning mobile advertising market and international expansion. With plans to enter Germany, Australia, the UK, and Canada, the company is set to tap into new revenue streams and broaden its global footprint. The recent $50 million Series F funding round, led by Insight Venture Partners, positions Yext well for potential acquisitions to enhance its service offerings.
Looking ahead, Yext's anticipated IPO could provide a significant boost in capital, further fueling its growth ambitions. However, the company must navigate challenges such as market competition and the complexities of going public. Sustaining its impressive revenue growth and expanding its customer base will be critical as it ventures into new markets and continues to innovate in the geomarketing space.
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