November 30, 2017
eLocal, a leading provider of digital performance marketing and new customer acquisition for local, regional and national service businesses, raised $25M in capital from LLR Partners. The investment will help support numerous growth initiatives, including expanding sales, marketing and technology efforts as well as potential acquisitions that complement eLocal’s existing platform.
“We feel fortunate to be working with LLR,” said eLocal CEO Bruce Aronow. “Aside from their great reputation within the industry, LLR’s commitment to partnership, value creation resources and local presence made them an easy choice to help us pursue our growth ambitions.”
The investment will further eLocal’s mission to connect consumers with local businesses, while keeping them at the forefront of a changing advertising industry. To date, eLocal has been focused on businesses within the home services and legal sectors but plans to expand into other verticals that value live phone calls and leads. As one of the nation’s leading performance advertising companies offering a pay-per-call/pay-per-lead advertising solution, eLocal’s proprietary technology makes it easier for advertisers to manage their marketing spend with transparent results that only cost money when the phone rings.
“Bruce and his team have done an incredible job,” said David Reuter, Partner at LLR Partners. “Just this year alone, they won EY’s Entrepreneur of the Year and were featured as one of the Philadelphia area’s fastest growing companies in the Philadelphia Business Journal’s Soaring 76. We’re very excited to formally welcome them to the LLR family and look forward to helping them continue their rapid and profitable growth.”
eLocal was advised in this transaction by AGC Partners.