SinglePlatform Raises $3.25 Million to Fuel Expansion, Delivers on “Most Promising Startup” DesignationBusinessWire Aug 09, 2011 Back to press
DFJ Gotham Ventures Leads Investment, with Participation from New World Ventures, First Round Capital and RRE Ventures
NEW YORK--(BUSINESS WIRE)--SinglePlatform, recently named among the nation’s most promising startups by Bloomberg Businessweek for its ability to simplify digital communications for local businesses, today announced it raised $3.25 million in venture funding. The investment, led by DFJ Gotham Ventures with participation from new investor New World Ventures and existing investors First Round Capital and RRE Ventures, brings the company’s total funding to $4.45 million.
“Local businesses represent an enormous potential customer base and restaurants are the most sought after targets in this category”
SinglePlatform operates as a one-stop digital portal for local businesses to manage their web presence, integrating their websites, Twitter, Facebook and mobile with a single upload of information. Local businesses are now able to publish their specials, events, menus, photos and more across a publisher network that includes more than 11,000 mobile applications, 34,000 hotels, 620 universities, data providers, and major travel and food specific destination sites.
“We help local businesses get discovered online. Managing digital streams effectively is the equivalent of a full-time job for someone like a restaurant owner, which is why many have not fully utilized new capabilities. We walk them through the process and make it simple, which levels the playing field for independent restaurants and other local businesses,” said Wiley Cerilli, SinglePlatform CEO.
“Local businesses represent an enormous potential customer base and restaurants are the most sought after targets in this category,” explained Thatcher Bell, a SinglePlatform board member and a principal at DFJ Gotham Ventures. “SinglePlatform has found a way to capture this market with a product that meets the needs of restaurants and other local businesses alike.”
This symbiotic relationship drives calls and customers to local businesses, while adding significant value to the publishers.
SinglePlatform’s management decided to seek funding to support the launch of a set of new products that respond to growing demand from local businesses and digital publishers, Cerilli said.
“SinglePlatform is filling a key need for both local businesses and digital publishers. With a great team and powerful, easy to use products, we believe that SinglePlatform will become the leading solution for local businesses to manage their web presence,” said Jeff Maters from New World Ventures.
Started in 2010 by veteran entrepreneur Wiley Cerilli, SinglePlatform (www.singleplatform.com) provides a one-stop digital portal integrating a local business’ web site, Twitter, Facebook and mobile applications while syndicating the content to digital publishers. SinglePlatform is listed among Bloomberg Businessweek’s ‘America’s Most Promising Startups’ and was named one of the top 25 New York City startups by Business Insider.
About DFJ Gotham Ventures
DFJ Gotham Ventures (www.dfjgotham.com) invests in technology companies that are revolutionizing their industries. DFJ Gotham partners with extraordinary teams of entrepreneurs to build strong and successful businesses that make a huge impact in their markets. DFJ Gotham takes pride in being an active partner, leveraging its experience, knowledge and relationships to provide substantial value to its portfolio companies. DFJ Gotham Ventures is proud to have backed such category leaders as Massive (acquired by MSFT), XOsoft (acquired by CA), Ingenio (acquired by AT&T), Mimeo.com and ViVOtech, among many others. For more information, please visit www.dfjgotham.com.
About New World Ventures
New World Ventures, a member of The Pritzker Group, is a multi-stage venture capital firm helping entrepreneurs build market-leading information technology companies. Since its founding in 1996, the firm has worked side-by-side with entrepreneurs at over 50 companies by providing a broad network of strategic relationships, advice based on several decades of experience and capital with tremendous flexibility. Recent successes include Playdom (acquired by Disney), LeftHand Networks (acquired by Hewlett-Packard) and TicketsNow (acquired by Ticketmaster). For additional information please visit www.newworldvc.com.
Sheridan Chaney, 312.629.9400