Pivotal Moves

Yext Pivots Into Local Business Listings and the Investors Come A’Fundin’

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Ain’t no shame in the pivot game, especially not when looking beyond your first idea can pay off so handsomely. Yext CEO Howard Lerman sent out an email today announcing that his start-up just raised $10 million Series D round from led by its inside investors WGI Group, the investment vehicle run by entrepreneurs Michael Walrath, Jonah Goodhart, and Noah Goodhart. The internal round raises the company’s valuation higher than the $25 million valuation it got for its series C round two years ago.

But rather than use the funding to continue on building its initial premise–pay-per-call ads for local business–Mr. Lerman is thinking bigger toward what TechCrunch once called, “The Anti-Google Local Advertising Alliance.”

Since 2007, the company grew Yext Calls into 15 verticals that cover roughly 200,000 potential business locations around the country. It was enough to get Mr. Lerman interest from would-be buyers. But it wasn’t enough for Mr. Lerman: Read More