Helping entrepreneurs build great companies is our primary purpose at First Round. If we can do that, we achieve the mission of making great returns for our investors. But we want the exits to not only make good money, but also to find a great homes for the enterprises we've helped create, whether that's as a public company (such as Bazaarvoice) or a merger into another company. So I'm really happy to congratulate @WileyCerilli and the entire team at Single Platform on their acquisition today by Constant Contact (CTCT).
Online marketing service Constant Contact has picked up SinglePlatform, a two-year-old start-up that helps small businesses list their services online. Constant Contact will pay $65 million for the New York-based company, plus another $5 million for employee-retention payouts; it may also shell out up to $30 million more in earnouts over the next two years.
With 40 people crammed into SinglePlatform's 3,000-square-foot headquarters in Manhattan's Financial District, temperatures routinely climb to 85 degrees. Employees take turns working from home, while new hires train in classrooms at a nearby community college. "When we move, people get to brag about starting out in this s--thole," says founder and CEO Wiley Cerilli. And with the heat comes blistering growth. Last year’s $2 million in sales should jump to $15 million or more in 2012. In March, 60,000 restaurants and small businesses (spas, flower shops, even law firms) signed up for the company’s free software, letting them manage menus and price lists on their Web, mobile and Facebook pages from one simple screen.
SinglePlatform, a startup that helps local businesses create websites in minutes, has raised $3.25 million funding led by DFJ Gotham Ventures with participation from New World Ventures, First Round Capital and RRE Ventures. This investment brings the company's total funding to $4.45 million.
Received $3.25M Series A Funding
Participation DFJ Gotham Ventures, New World Ventures, First Round Capital, RRE Ventures, Jason Finger
Wiley Cerilli is what your mom might call “a catch.” The 31-year old native Rhode Islander was one of New York City's earliest technology entrepreneurs. After spending 10-years leading NYC's online delivery service SeamlessWeb, he launched SinglePlatform in January 2010, to ease restaurants into the next course of internet marketing and social media. Restaurants provide SinglePlatform with their information like menus, photos, events and specials through an easy-to-use portal and SinglePlatform updates it across their hundreds of publishing partners including hotels, city guides, restaurant review sites and application developers.
Received $1.2M Seed Funding
Participation First Round Capital, Gunderson Dettmer, RRE Ventures, DFJ Gotham Ventures, Jason Finger