G5, a developer of local marketing software, today announced it has secured a $15 million first round of funding. The company said the money will be used for software development and marketing to target customers such as multifamily housing, self storage and senior living.
G5’s marketing tool targets local businesses looking to be found online and generate traffic as well as leads to their websites. The tool leverages Google, Yahoo, Facebook, Yelp, Craigslist, and other sites to drive customers through paid online advertising to clients websites. Once there, G5 helps to engage with users by providing tools to create a “call to action,” which may be a request to fill out a contact form or call the company. All activities are tracked and measured through the marketing tool as well, including figuring out where traffic generated and whether leads converted to sales.
Local online advertising is projected to grow from $8.9 billion to $16.4 billion by 2013, according to research firm Borrell Associates. Another online advertising company, Yodle, recently closed $10 million in funding and launched Yodle Organic, a new product to help local businesses increase web traffic and search engine optimization (see image above written by Yodle CEO Court Cunningham). ReachLocal, another local online advertiting company targeting small and medium size businesses, recently decided to IPO for $54 million.
The Bend, Oregan-based company claims to have 160 clients with over 2,400 properties. Funding was led by Volition Capital. The firm’s Roger Hurwitz and Sean Cantwell, Principal will join G5’s board of directors.