WordStream Secures Additional $6M in 3rd Round Funding
The latest round of funding brings total financing for the growing search marketing software company to $16 million total.
July 26, 2012 – Boston, MA – WordStream Inc., a provider of search engine marketing software and services for small and medium-sized businesses, recently secured an additional $6 million in third-round financing, led by Sigma + Partners as well as Egan-Managed Capital, both previous investors in the company. The company has raised a total of $16M to date.
The additional funding will be used in continued development of WordStream’s pay-per-click (PPC) management software, PPC Advisor, and to support the company’s ongoing expansion. Projects in the pipeline include further expansion and innovation of the 20-Minute PPC Work Week, a one-of-a-kind system of tools and alerts that enables advertisers to optimize their PPC campaigns in just 20 minutes a week, as well as continued investments in infrastructure to handle the growing customer base.
Since the company was founded in 2008, WordStream has grown steadily and aggressively, increasing its client roster to nearly 1,000 as well as rapidly expanding the company to secure customer satisfaction and uphold a high quality of services.
“WordStream’s growth has picked up dramatically in 2012 and we are fortunate to have investors ready and willing to fuel this growth,” said Ralph Folz, CEO of WordStream.
Recently WordStream was named one of Boston.com’s top “up and coming” private companies centralized in the Boston area. In addition, the company recently won the 2012 MITX Innovation Award in the category of Best Customer Engagement Driver for the AdWords Performance Grader, a free PPC audit tool.
“WordStream has shown extraordinary growth in the past year, with revenues increasing 300%,” said Paul Flanagan, a Managing Director at Sigma Partners and a member of the WordStream Board of Directors. “The company has proven two things: that it can grow profitably, and their software delivers a hard ROI to their customers. When you combine that with the size of the market they are addressing, that is a powerful combination. This infusion of cash will allow them to continue their rapid growth towards becoming the dominant provider of search engine marketing software.”
About WordStream, Inc.
WordStream Inc. is an industry thought leader on PPC and SEO efforts in the field of search engine marketing. Loved for our paid and free keyword tools by both SEO’s and PPC marketers, we continue to create blockbuster tools for small and mid-sized businesses. Our 20-Minute PPC Work Week, an easy-to-use AdWords management software, has helped our customers get expert-level increases in relevance and Quality Scores for their online advertisements. Whether you’re new to search marketing or are experienced at PPC management, WordStream’s keyword tools and PPC management software can help grow your business and drive better results.