Online business directory service Yext has raised $25 million in a second round of funding led by Institutional Venture Partners. Existing investor Sutter Hill Ventures also participated in the round. Yext puts business listings on its own site as well as on partner sites, including YellowPages, Local.com and Topix; businesses are only charged when relevant customers actually contact them. The three-year-old startup says that 20,000 customers have signed up for its advertising service. TechCrunch puts revenue at $20 million this year. New cash will be used to “accelerate the growth of pay-per-action phone calls.” The company had previously raised $3.5 million in a first round in June 2008. Release.
Yext Raises $25 Million For ‘Pay Per Action’ Business Listings

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