Raise Report: Fresh Funding for Townsquared, Yieldbot, Drizly
Every two weeks, we round up some of the biggest fundraises taking place in hyperlocal marketing, commerce, and tech.
Tuesday, August 2: Townsquared Takes In $11 Million for SMB Social Network
Townsquared, a platform on which small businesses can connect with each other as well as local audiences, has raised $11 million in Series B funding, Silicon Angle reported. Intuit Inc. and Sierra Ventures led the round. The company will use this cash infusion to expand into several news cities across the U.S.
Wednesday, August 3: YieldBot Racks Up $35 Million for Online Advertising
Yieldbot, an online advertising software firm, has raised $35 million, the Wall Street Journal reported. Staley Capital led the round, which YieldBot will use to consider acquisitions and bolster its sales and marketing operations.
Wednesday, August 3: SiteZeus Secures $1.5 Million for Location Intelligence
Chuck Cooper, a former executive at Paylocity, led the round. SiteZeus, which provides location intelligence insights to brands, will look to establish new partnerships and grow its team with the fresh funding, according to a release.
Thursday, August 4: Spot.IM Scores $13 Million to Boost Online Engagement for Publishers
Spot.IM, which helps publishers spark user-generated conversation on their sites, has raised $13 million in Series A funding, VentureBeat reported. The company plans to use its new capital, provided by Index Ventures and AltalR Capital, to grow its staff as well as fund research and development.
Thursday, August 4: Insert Hauls In $10 Million for In-App Marketing Tools
Insert, which provides a number of marketing tools that developers can add to their apps, has raised $10 million in new funding, according to a release. Battery Ventures led the round. Going forward, Insert will look to accelerate product development and bolster sales and marketing.
Thursday, August 4: Drizly Picks Up $15 Million Series B for Alcohol Delivery
Drizly, a within-the-hour alcohol delivery service, has raised $15 million, TechCrunch reported. Polaris Partners led the round. Drizly will look to use the money to conquer new markets in the U.S. before the end of 2016.
Wednesday, August 10: Carvana Locks Down $160 Million for Digital Auto Sales Platform
Carvana, which is looking to disrupt the used-car industry with digital sales, has raised $160 million in Series C funding, Fortune reported. Carvana has not disclosed who contributed to the round, but it has said it will put the funds toward growth and expansion.
Joseph Zappa is Street Fight’s news editor.
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