Pennsylvania-based eLocal, a provider of digital performance marketing and new customer acquisition for local, regional and national service businesses, has raised $25 million in funding. The investor was LLR Partners. AGC Partners advised eLocal on the fundraising.
CONSHOHOCKEN, PA – NOVEMBER 30, 2017 – eLocal, a leading provider of digital performance marketing and new customer acquisition for local, regional and national service businesses, today announced it has raised $25M in capital from LLR Partners. The investment will help support numerous growth initiatives, including expanding sales, marketing and technology efforts as well as potential acquisitions that complement eLocal’s existing platform.
“We feel fortunate to be working with LLR,” said eLocal CEO Bruce Aronow. “Aside from their great reputation within the industry, LLR’s commitment to partnership, value creation resources and local presence made them an easy choice to help us pursue our growth ambitions.”
The investment will further eLocal’s mission to connect consumers with local businesses, while keeping them at the forefront of a changing advertising industry. To date, eLocal has been focused on businesses within the home services and legal sectors but plans to expand into other verticals that value live phone calls and leads. As one of the nation’s leading performance advertising companies offering a pay-per-call/pay-per-lead advertising solution, eLocal’s proprietary technology makes it easier for advertisers to manage their marketing spend with transparent results that only cost money when the phone rings.
“Bruce and his team have done an incredible job,” said David Reuter, Partner at LLR Partners. “Just this year alone, they won EY’s Entrepreneur of the Year and were featured as one of the Philadelphia area’s fastest growing companies in the Philadelphia Business Journal’s Soaring 76. We’re very excited to formally welcome them to the LLR family and look forward to helping them continue their rapid and profitable growth.”
eLocal was advised in this transaction by AGC Partners.
eLocal is a fast-growing, 10-year-old internet advertising company, whose mission is to connect consumers with local businesses. With a specialization in the home services and legal verticals, eLocal has been at the forefront of a changing advertising industry as one of the only media companies offering local businesses a performance-based pricing model to support new customer acquisition. Learn more at www.elocal.com.
About LLR Partners
LLR Partners is a lower middle market private equity firm committed to creating long-term value by growing our portfolio companies. We invest in a targeted set of industries, with a focus on technology and services businesses. Founded in 1999 and with more than $3 billion raised across five funds, LLR is a flexible provider of capital for growth, recapitalizations and buyouts. For more information about LLR and advice for scaling growth companies, visit our new website at www.llrpartners.com.