Signpost, a US-based mobile marketing platform for small and medium-sized businesses (SMBs) which is backed by investors including Google Ventures, has raised an additional $10m series B funding fled by expansion stage venture capital firm OpenView Venture Partners together with Spark Capital, Scout Ventures, and angel investor Jack Herrick.
Signpost has received more than $15m in capital investments to date.
The company will use the series B funding proceeds to accelerate product development.
Dev Ittycheria, managing director with OpenView Venture Partners, who joins Signpost’s board of directors, said: “Small and medium business owners know that online and mobile platforms influence most of their new and existing customers. But these same businesses find it nearly impossible to manage dozens of complicated, confusing platforms effectively. Signpost stands out with the unique ability to empower SMBs to leverage cloud-based marketing automation technology, previously only accessible to much larger corporations.”
Todd Dagres, founder and general partner at Spark Capital, said: “Signpost is developing a new world of high-impact, revenue-generating digital marketing automation aimed at businesses with local customers. We look forward to supporting Signpost’s continued growth as more SMBs seek to automate marketing operations.”
Stuart Wall, chief executive officer of Signpost, said: “This funding round will allow Signpost to continue investing in product and technology and build our teams in Austin, Denver, and New York.”