SEOmoz announces venture capital financing

Posted on May 5, 2012

 

Following five years of strong growth (and a couple of failed attempts previously), popular SEO and search marketing monitor SEOmoz has finally secured financing for the future.

The $18 million (£11 million) financing by venture capitalists the Foundry Group will be largely used to accelerate growth plans. In a witty opening to his post on SEOmoz, founder Rand Fishkin suggests that he may have to reconsider his opinion of venture capitalists.

It is likely not to be the only challenge Fishkin has set for himself, as the Seattle-based startup has some ambitious targets in the cross-hairs.

It was felt necessary to secure funding at this time, as incomings were falling short of where the potential for growth needed them to be. The major change that will be seen from the cash will be a change to its core products.

These updates will be in addition to significant work which has already taken place. Already, web crawls, indexing and link craft have been amended for example.

As well as software updates, there is likely to be an investment in new staff and new premises. There is mention that acquisitions could also be lined up.

Fishkin recognises that the landscape is a challenging one, with many companies still not realising the true value and, more precisely, the true potential of correctly delivered SEO. As such, some of the money could be used towards effective education programmes.

Whatever is done with the cash, it certainly looks like an interesting time to be involved with search engine optimisation.

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