by Victor Karamalis
Merchant Circle announced earlier today that they have raised successfully an additional $10 million in Series B venture capital funding. This round included their initial investors of Rustic Canyon Partners, Scale Venture Partners, and Steamboat Ventures; in addition, IAC and Square 1 Bank invested in what aims to help Merchant Circle in positioning to acquire potential new opportunities. The service helps local businesses have a stronger presence through claiming their individual business listings that an owner with little Web experience can “claim” and customize with ads, coupons, and newsletters at no charge.
This service has a freemium version where local businesses aren’t charged to claim their online identity on its business directory. However, they also have two pricing strategies with enhanced marketing features. For example, the first includes a complementary ad for the lower end payment and the more expensive includes up to four monthly ads in addition to an optimized web presence. The site’s press release mentions that it has attracted more than 250,000 local merchants in the past seventeen months. This is a wonderful solution to get better exposure to the online public.
Ben T. Smith IV, MerchantCircle Co-founder and Chairman is quoted in their most recent press release as saying “Our vision is to deliver effective online marketing services to every local business in North America.” He further went on to say, “we are pleased that our investment partners support our strategy to bring more value to local merchants by delivering well-qualified local consumers.” The company is based out of Los Altos, California.
Merchant+Circle Funding Venture+capital local+business ads optimization
Discussion
The Merchant Circle group has created a fantastic product for the small business owner. The intuitiveness of its platform allows anyone with some creativity to create an attractive internet presence. Being able to expand one’s circle of preferred merchants, and subsequently being able to indirectly advertise within their circles, paves the way to increase business exposure. This approach works very well when budgets are tight. Their other paid options also work well and maintain a very reasonable price point. Merchant Circle gets two thumbs up from us!
As a small business owner Merchant Circle is an excellent way to market and promote your company online to local businesses and customers, along with marketing nationally. This is a excellent tool for any company especially with small budgets. Keep it up!