Balihoo Secures $7 Million in New Funding
Local Marketing Automation Provider Expects 5X Year-Over-Year Revenue Growth as National
Brands Look to Drive Local Demand Generation.
Boise, ID (PRWEB) August 27, 2009 -- Balihoo, the premier provider of Local Marketing Automation
technology and services to franchises and national brands with local marketing needs, today announced it has
secured $7 million in new funding. Led by OpenView Venture Partners, this investment will enable Balihoo to
expand sales and marketing efforts as it continues to build its impressive roster of national clients.
"Balihoo offers national brands with local advertising a unique platform that enhances brand image nationally
while creating demand locally," said Scott Maxwell, OpenView's Managing Partner and Senior Managing
Director. "Their growing customer base speaks highly of the Balihoo solution and the Balihoo team is passionate
about building a great company by making each of their customers successful. Their results and approach are
well aligned with OpenView and we are proud to be an investor."
Balihoo's solution combines industry-leading technology, sophisticated local marketing strategy and world-class
media execution to bring highly effective and brand-compliant local marketing to affiliates and franchisees of
national brands. By making it easy to create, plan and implement local advertising campaigns, Balihoo reduces
local marketing costs while at the same time improving local marketing effectiveness and return-on-investment
"OpenView stood out amongst all other potential capital providers primarily based on the value-added services
they provide," said Pete Gombert, Balihoo's CEO. "Balihoo is growing quickly; we're coming off of four
consecutive quarters of double-digit compound revenue growth and we were impressed with OpenView's history
of helping software companies quickly and effectively scale to meet rising demand."
Gombert continued, "Since the launch of our LMA platform last year we have been experien