WebVisible Raises $20M

Irvine-based WebVisible officially announced this morning that it has raised $20M in a Series C funding round. According to the firm, the round was led by Focus Ventures and Adams Street Partners, with existing investors Redpoint Ventures and Sutter Hill Ventures also participating in the funding. WebVisible is headed by Kirsten Mangers. According to WebVisible, the funding will go to aggressively expand R&D on its platform, which is used by place local online advertising for small and medium sized businesses. As part of the announcement, WebVisible said it saw a 113 percent, year-over-year increase in its revenues for 2009. The funding had been disclosed earlier through a regulatory filing. More information »