Here’s the press release:
MerchantCircle, the largest and fastest growing online network of local business owners in the nation, today announced it has received $10MM in Series B funding and other financing. Previous investors Rustic Canyon Partners, Scale Venture Partners, Steamboat Ventures (the venture capital arm of The Walt Disney Company), and new financing partners IAC and Square 1 Bank, among others participated in the deal.
The company says it has “attracted more than 250,000 local merchants in only seventeen months.” That’s clearly the reason for the funding. More recently the company announced a relationship with WebVisible.
Industry insiders seem quite polarized by the company’s early marketing tactics, which I believe have changed.