Nov 11, 2010
Angie's List today announced that it has closed on $2.5M in additional financing from its most recent round. Multiple institutional investors contributed to the $22.5M announced last month. The additional infusion comes from San Francisco-based Saints Capital.
Angie's List, the nation's premier provider of consumer-focused information and reviews, will use the additional investment to expand its Health and Wellness consumer reviews product, as well as its "The Big Deal" local group coupon program.
Angie's List launched in 1995 with a focus on local home, yard and car services, gathering information door-to-door and offering service through a telephone call-in and a monthly magazine. Angie's List now serves more than 1M paid members, primarily via the angieslist.com website, but still offering a call-in service and the monthly magazine.
Angie's List holds a unique position at the intersection of local search, user-generated content and subscription-based services. Further setting the company apart is the complete focus on the consumer. Angie's List is dedicated to serving as the "honest broker," providing information and buying power to its members. Angie's List does not allow anonymous postings and service providers cannot review themselves.
Angie's List's latest expansions include offering group coupons marketed as "the Angie's List Big Deal" in more than 30 local markets. The company expects to offer local group coupons in more than 50 markets by the end of 2010. Angie's List Health and Wellness continues to grow dramatically as members embrace their ability to research local doctors, compare and negotiate prices for medical treatment.
Angie's List collects consumer reviews on local contractors and doctors in more than 500 service categories. Currently, more than 1M consumers across the U.S. rely on Angie's List to help them make the best hiring decisions. Investors include Aquent, BV Capital, Battery Ventures, Lighthouse Capital Partners and Wasatch Advisors.
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