SinglePlatform would be focusing more on hiring people with their newly-acquired venture funding, amounting to $3.25 million. This round of funding was participated in by First Round Capital, RPE Ventures, and DFJ Gotham Ventures leading the pack of investors. New World Ventures also contributed as a new investor.
Their CEO Wiley Cerilli shares more about this exciting news and the company in this recent e-interview with Lead411:
Who are your competitors and how are you different from them?
We created SinglePlatform to be a one-stop-shop for local businesses to manage their entire digital presence. You can look at it from two different perspectives; we either have no direct competitors (as no other companies operate in the same capacity), or you can look at it as, anyone operating in the local space is a competitor as they’re competing for share of wallet and mind.
What truly differentiates us from other players in the space is that we’re engineered a simple, turnkey solution that enables these SMB’s to publish their storefronts (not just their name and address) to their website, social media, and most importantly to our Publisher Network of over 50,000 sites (major media companies, hotels, universities, telecom companies, iphone apps etc.) in one shot.
What percentage of your marketing budget are spent on the
A. Advertising –
B. Social Media Marketing –
C. SEO –
D. PR –
E. Direct Marketing –
F. Other – 100%
What marketing tactic has given you the highest ROI? What percentage ROI do you get back on this?
After working closely with local businesses for the last 12 years, I have found that, to acquire local businesses as customers, you have to sell to them locally. The vast majority of our resources are poured directly into our sales force. Investing heavily in the best, brightest, and most motivated team members pay off in the satisfaction of our customers.
What do you plan to spend your new funding on? Product
With this new round ($3.25M), we will be pouring our money into hiring efforts across the board from php developers, to sales people.
If this is your first round of financing and you’re the CEO, how many hours did you put into working on getting your financing? Was that taking up the most of your day?
This was our second round of funding.
If you are the CEO, what are your biggest challenges?
My biggest challenges change on a monthly basis as the business develops. Now that the model has been proven, my next area of focus will be on quickly scaling out our team, product and sales efforts.
How many employees do you have?
Today we have 35 full-time employees throughout the country – as well as an additional 70 free lancers working full time throughout the world.
When were you founded?
SinglePlatform was founded in January 2010.
How much did you revenue increase(if any) this year over last year?
Revenue has increased exponentially as we’ve continued to scale the SinglePlatform brand and sales force. We’ve hit that major inflection point in the business, the “hockey stick”, and we’re extremely excited to watch it grow.
Learn more about their second round of funding in this recent press release here.