SEOmoz Raises $18 Million in VC FundingBy: Sean Patterson - May 1, 2012
SEOmoz, a startup that develops Search Engine Optimization (SEO) software, today announced that the company has raised $18 million in venture capital funding. The announcement came on the company’s Daily SEO blog in a Google+Reader”>post by SEOmoz CEO Rand Fishkin. The $18 million in series B funding was provided by The Foundry Group and Ignition Partners. The company’s only other round of funding was in 2007, when it raised $1.1 million from Ignition Partners and Curious Office. This round of funding brings Foundry up to a 17% share in the company, with Ignition having a 15% share. A recent WebProNews interview with Fishkin about a past failure to raise funds for SEOmoz can be viewed here.
“SEOmoz is one of those companies that you just know is going to do big things, “ said Brad Feld, Managing Director of The Foundry Group. “I tend to judge the organizations I invest in based on character, culture and leadership. I believe Moz has exceptional depth in all these areas and the financial growth trajectory to back them up. The relationship is a great fit from all angles and I’m positive we have a very successful future ahead of us.”
The software that SEOmoz creates crawls websites to find errors or missed opportunities for SEO and then makes recommendations based on SEO best practices. The startup also helps websites battle negative SEO. SEOmoz has 15,000 current paying subscribers and predicts it will take in $18-20 million in 2012.
In addition to the highly detailed blog announcement that tells the entire story of the funding, SEOmoz has put out an official press release that is littered with internet memes. One example can be seen below, and represents the tenuous explanation for their less-than-serious release. The rest of the memes, which, I must warn you, are not all winners, can be seen here.
Despite the silly press release, SEOmoz is sincerely hoping this investment will allow their startup to grow and flourish. “In that first phone call with Brad, I knew we’d found someone special,” said Fishkin. “I was, honestly, scared of starting another fundraising process after our previous two attempts, but the chemistry between Foundry and Moz was instant – we couldn’t ask for a better fit. This new partnership coupled with the continued support of our original investors, Ignition Partners, gives us the ability to achieve some remarkable milestones in the years to come.”
How do you feel about companies that cast their SEO magic on websites? Should all companies be less serious about their press releases? Leave a comment below and let us know.