New York, NY (PRWEB) October 17, 2012
LocalVox Media Inc. (http://www.localvox.com) an innovative leader in small and medium business (SMB) solutions for local, social and mobile marketing has obtained $7.4 million in a funding round led by Talus Holdings, a local media holding company principally owned by GSO Capital Partners LP an affiliate of Blackstone (NYSE: BX).
LocalVox plans to utilize the funding to bring their comprehensive, yet simple and affordable marketing solutions to new markets, further invest in product development and build out its partner network.
Having acquired a solid base of leading New York City local business clients– including Whole Foods, Chelsea Piers, Buffalo Wild Wings and Sushi Samba in the last year– the rapidly growing company plans to expand nationally both directly and through partnerships with local publishers, directories and affiliates (http://localvox.com/partners/). LocalVox has over 20 publisher partners including Manhattan Media’s properties that include New York Press, Our Town, Our Town Downtown and New York Family. Other partners include Harlem World, Brooklyn Bugle, Brooklyn Heights Blog and the West Side Rag.
Over the summer, LocalVox launched a partnership with CT1 Media, a Tribune Company, to bring LocalVox to the Hartford market and Courant.com. The LocalVox Partner Program enables local and regional publishers to capitalize on the increasing demand from local businesses for online marketing solutions. In the process, with LocalVox, publishers create reliable subscription revenue streams to complement the cost-per-impression advertising models.
The local online marketing industry is projected to grow from $27.1b in 2011 to over $42.5b in 2015 according to research firm BIA Kelsey.
“We are very pleased to team up with Blackstone’s GSO Capital Partners and Talus Holdings, who represent both investors and strategic partners. With our funding, we will continue to deliver the most effective, single marketing solution for local businesses to make the complex online marketing landscape simple and drive real results,” said LocalVox co-founder and CEO David Pachter.
“The LocalVox investment represents a continued strategic commitment to the significant opportunity in the local online marketing industry. Through Talus Holdings, Blackstone’s GSO Capital Partners is creating an ecosystem of technology investments and value-added services that facilitate the digitization of the local advertising market. LocalVox, with its unique marketing solutions, is a key element that we believe has the potential to connect them all together,” said Scott Eisenberg, Principal of Blackstone’s GSO Capital Partners and a newly appointed Board member of LocalVox.
LocalVox (http://localvox.com) is the leading local, social and mobile marketing platform that helps businesses market themselves online via the web, local SEO, social media, email, directories, mobile and more. The company has a team of 45, is headquartered in New York City and was recently named one of the ten hottest NYC startups by Business Insider.