SME Global Solutions Raises $5M

Irvine-based SME Global Solutions has raised a Series A funding round for its local online advertising service. The firm said yesterday that it raised $5M from Redpoint Ventures to grow its concentrated local advertising service, WebVisible. SME Global Solutions is developing products and services that tackle the emerging local search and advertising market, where companies are looking to enable local advertisers to the Web. The company said that it counts Dex Media, Bellsouth, Verizon,, Knight Ridder, Interland, and The Berry Company as customers and partners. As part of the funding, Brad Jones and Greg Martin of Redpoint will join the company's board. The company is competing against companies such as ReachLocal and InsiderPages for a share of the local search market. More information »