Yext sees $88.eight million income, forty eight% progress for location knowledge
New York-based mostly Yext, which helps companies handle their listings for retailer places, is saying $88.eight million in income for its fiscal 2016 yr. The corporate says this can be a forty eight% improve from final yr and that their workforce additionally grew by 38% to 455 staff.
Yext just lately added Google to its PowerListings community, which signifies that shoppers can replace their Google Search and Maps listings in actual-time. Yext can now replace location knowledge throughout one hundred maps, apps, search engines like google and yahoo and directories, together with Apple, Fb, Bing and Yahoo.
Yext says it powers the info for over 600,000 places worldwide. Shoppers embrace Citibank, FedEx and Sunglass Hut.
“What Salesforce is for buyer knowledge, Yext is for location knowledge.” CEO Howard Lerman tells TechCrunch. “Yext is the system of document for location.”
Whereas the corporate isn’t but worthwhile, Yext says they’ve been re-investing in progress, forward of what’s more likely to be an eventual IPO. “We’ll go when the time is true,” stated Lerman.
Yext has raised at the least $one hundred fifteen million in capital, courting again to 2006. Perception Ventures led a $50 million Collection F spherical in June of 2014 at a $525 million valuation. IVP, CrunchFund and SV Angel have additionally invested.
“The enterprise is performing extraordinarily properly,” stated Deven Parekh, managing director at Perception Enterprise Companions. “We’re nonetheless early within the evolution of the market we’re in.”