Local Service Reviews Site Angie's List Raises $35 Million Funding
This story was written by Rafat Ali.
Angie's List, one of the original online review sites focused on local homes service companies and contractors, has raised a crazy amount: the Indianapolis-based company has received a $35 million investment from Battery Ventures, for a minority stake. The list/service was founded in 1995, and says it has 600,000 subscribers in 124 major cities in U.S. The money will be used for expansion in other cities here and internationally, starting with Toronto and London. Also, the company has now expanded into listings and ratings on the health care industry, including reports on doctors, facilities and insurers, according to IBJ. The story says the 325-employee firm posted revenues of roughly $28 million last year. Previously it had raised about $13 million in two rounds, from BV Capital and staffing firm Aquent. More on funding in the release here.
This Wikipedia entry has more details on the history of the company.
By Rafat Ali