Signpost, a cloud platform that simplifies marketing for local businesses, announced new funding to grow its footprint and push new technology for their local clients.
The $52 million in late-stage funding was provided by HighBar Partners and the Bank of Montreal, with participation from Georgian Partners and Spark Capital, both previous investors. Signpost has raised more than $65 million in funding over three funding rounds so far.
“While large corporations have used powerful marketing technology to drive extraordinary growth for years, local businesses — which make up 99.7% of all U.S. businesses, accounting for nearly half of the GDP — have been left behind,” said Stuart Wall, founder and CEO of Signpost, in a statement. “Signpost puts the power of the world’s largest marketing departments in the hands of local business owners and empowers them to instantly capture their customer data, get better online reviews, and win new and repeat business — automatically and effortlessly.”
Signpost wants to help businesses, which currently rely on local customer review sources like Google Maps, Facebook and Yelp, find new and repeat revenue by augmenting their marketing and promotion techniques.
“Local business owners struggle to manually create and maintain customer databases and to send consistent marketing communications,” Wall added. “Too often, they don’t have the time or resources to devote to marketing, which can make the difference between the success and failure of their business.”
Signpost says that local businesses that used its’ smart CRM and automated text and email marketing solutions, saw their ratings improve by 34% and their revenues grow by 14% on average.
The New York City based startup was launched in 2010.