Marketfish hooks $1.5 million |
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Marketfish hooks $1.5 million
Marketfish just landed an additional $1.5 million in venture financing, money that that fast-growing Seattle online marketing startup will use to grow sales, build out the platform and establish a new office in New York. The round -- led by Rustic Canyon and Accelerator Ventures -- comes about 10 months after the company closed a $2 million angel round.
Chief Executive Dave Scott said that business is booming with more than 320 marketing and advertising agencies utilizing the product to generate new business leads. To date, Marketfish has compiled more than 500 million records -- typically marketing lists from organizations such as The American Society of Cinematographers, BusinessWatch, Tennis magazine and others. Marketers typically pay on average from $20,000 to $30,000 to rent one of the lists.
Dave Scott
As a result of the new financing, Neal Hansch of Rustic Canyon will join the board. Alex Lloyd of Accelerator Ventures -- a San Francisco-based seed fund -- will become a board observer.
Scott -- who bootstrapped Marketfish during its early months -- said the company is gaining momentum because they've "built a better mousetrap" in the established industry of list marketing.
"We still have first mover advantage," he said. "Customers are speechless when we pitch to them because our value proposition is so obvious, yet surprised that no one has produced an offering like this before."
Previously on TechFlash: Q&A: Dave Scott of Marketfish on his 'global domination' strategy
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