Local Listings Angie's List Gets Another Big One: $18 Million In Venture Debt
This story was written by Tameka Kee.
Home improvement and contractor online listings and review service Angie's List has picked up $18 million in venture debt from Lighthouse Capital Partners. It's the second double-digit round of funding the Indianapolis-based company has received just this yearBattery Ventures invested $35 million in the service for a minority stake in April.
Angie's List expanded from covering just home-focused companies like plumbers to health care providers in March, and will use the new funds to scale out to other categories and internationally. It also is a major underwriter of shows on NPR and other public radio, and that probably takes a chunk of its money. Users pay a membership fee to access company listings, and its closest competitor is IAC's free site Service Magic (which lets contractors bid to win homeowners' projects). All told, Angie's List has secured $65 million in investments since its launch in 1995. Release.
By Tameka Kee