MerchantCircle, the largest and fastest growing online network of local business owners in the nation, today announced it has received $10MM in Series B funding and other financing.
The investment validates the company’s “merchant-first” business model and allows MerchantCircle to pursue new acquisition opportunities. The deal dramatically accelerates MerchantCircle’s strategy to become the most effective channel for connecting local businesses with local consumers.
Local business owners use MerchantCircle to create web sites, manage their online reputations, write blogs, send newsletters, publish coupons, and connect with other business owners in their communities. MerchantCircle has attracted more than 250,000 local merchants in only seventeen months
“As more consumers rely on the internet to help them decide where to shop, local businesses need to develop an online strategy to thrive,” says Mark Menell, Partner at Rustic Canyon Partners. “MerchantCircle’s ability to engage local merchants and deliver simple, valuable online services has the potential to completely change the way local businesses reach customers in this day and age.”