SEOmoz raises $18 million, Brad Feld joining boardPosted by admin on May 05, 2012
Geekwire, 5/5/12 -
SEOmoz CEO Rand Fishkin has been down this path before, as detailed in his extensive account of the company’s unsuccessful attempt to raise a large round of venture capital funding last year. But this time, with a different investor, the deal has actually closed.
They’re so excited that they’ve created their own Internet memes about it.
The Seattle-based provider of search-engine and social-media optimization software is announcing this morning that it has raised $18 million in Series B funding from Foundry Group of Boulder, Colo., along with one of its original investors, Bellevue-based Ignition Partners.
Foundry’s Brad Feld (one of the co-founders of TechStars) will be joining the SEOmoz board as a result of the deal.
Gillian Muessig, the company’s co-founder (and Fishkin’s mom) will be stepping down as president and board member, looking to pursue new projects.
SEOmoz says it plans to use the money to expand its web index, add new features to its software, hire more people and possibly make some acquisitions. The company currently has 60 employees, all of them in Seattle.
“It’s a huge amount of relief,” Fishkin said via phone yesterday afternoon, on his walk home from the office. “It feels like the last few years finally make sense around this process. The company has been going great … but there was always this monkey on my back: Why, if all of these things are going well, do we not have the kind of external validation and interest from investors?”
“This is validation, and it’s a validation in such a big way. Brad is such a huge presence in the industry. … It just feels great.”
Go to full article here.