Hyperlocal business directory provider MerchantCircle has taken $10 million Series B in a round that included previous investors Rustic Canyon Partners, Scale Venture Partners, Steamboat Ventures (Walt Disney), and new participants IAC and Square 1 Bank.
The funding will allow MerchantCircle to pursue acquisition opportunities and accelerate their strategy of becoming “the most effective channel for connecting local businesses with local consumers”.
Los Altos based MerchantCircle provides small businesses a web page listing, blogging and email newsletter application, and a local business network that focuses on connecting local businesses. The “circle” in the company’s name comes from a viral marketing strategy that encourages members to sign new members in their community.
MerchantCircle has attracted more than 250,000 local merchants since launching in 2006. Entry-level packages are free of charge with enhanced advertising memberships starting at $29 per month.