Genbook, of San Francisco and Australia, has raised $2.2 million from Australian venture firm Neo Technology Ventures to build out a booking service for local online directories such as YellowPages. We saw news of the funding at VentureWire this morning. The company’s press release is below.
According to its Spartan Web site, Genbook sells its service to online directories, such as Yellow Pages, directory and search organizations, and VentureWire explains how it works:
The company’s technology gives consumers the option of making a reservation or an appointment when they are served results for a search. Anything from a haircut to a dog grooming to a doctor’s appointment could be handled by the company’s online service, according to Moore.
The company is pre-revenue, but, similar to a pay-per-click model, will take a percentage of the revenue listings services receive for successful reservations made using Genbook’s service.
Genbook Raises US$2.2 Million in Series A Financing
Genbook is Pioneering “Pay-per-Bookingâ„¢” Performance Advertising
for the Online Local Search Market
SAN FRANCISCO, CALIFORNIA, 22 SEPTEMBER 2006 • Genbook, Inc., which is pioneering “Pay-per-Bookingâ„¢” Performance Advertising, today announced that it has raised US$2.2 million in Series A funding led by Neo Technology Ventures, an early stage venture capital firm based in Sydney, Australia. The company will use the proceeds of the financing to capitalize on current distribution partner opportunities, to expand its executive and technical team, and to grow its US headquarters.
Genbook has developed a Pay-per-Bookingâ„¢ online local advertising product enabling a vast array of local businesses to capture online bookings in real-time from customers. Genbook is distributing the product exclusively through online directories and local search engines, including Internet Yellow Pages companies.
Genbook’s Pay-per-Bookingâ„¢ product is suitable for the millions of local businesses worldwide which accept bookings from customers as part of their daily operations. Businesses as diverse as hairdressers, dentists, restaurants and physiotherapists can all capture online bookings in real-time, and pay only a low fee for actual bookings received, delivering a superior and directly measurable ROI. Genbook’s patent-pending technology has been developed, refined and market-tested over the past two years, and easily integrates into online directory and search engine technology platforms.
According to Rody Moore, Genbook’s Founder and CEO, “Customers more and more expect to be able to book services of any kind online and in real-time. Genbook’s Pay-per-Bookingâ„¢ product, and the distribution partnerships under development with leading online directories, local search engines and Internet Yellow Pages companies, is a significant step forward in making real-time online booking technology available to millions of local businesses worldwide.”
In conjunction with the financing, Marc Woodward, a General Partner at Neo Technology Ventures, has joined the Genbook Board of Directors. “We are very excited to be a part of the Genbook team. With literally millions of bookings taken by local businesses every day, Genbook has a large and compelling opportunity, and the market is largely untapped. With a straightforward and innovative new product, Genbook is well positioned to take advantage of the current wave of massive growth in the local internet search industry,” stated Marc Woodward.
For further information, please contact:
500 Third Street Suite 210
San Francisco CA 94107
Phone: +1 917 796 8331
Genbook is a leading developer of Online Booking Services and “Pay-per-Bookingâ„¢” Performance Advertising for the Local Search Market. The company is headquartered in San Francisco, California, with Research & Development in Sydney, Australia.
About Neo Technology Ventures
Based in Sydney, Australia, Neo Technology Ventures is an early stage venture capital fund specializing in the Information Technology, Media and Telecommunications industries. For further information on Neo Technology Ventures visit www.ntfund.com or contact Marc Woodward, General Partner, Tel: +61 2 9409 6705, firstname.lastname@example.org.