LeadFire Receives $5M in Funding
According to a written statement, LeadFire (code name), a SaaS lead generataion platform, received $5m in funding from Du Molin & Du Molin , Inc.
Led by Peter Avritch, CTO and chief architect, LeadFire allows large online lead aggregation companies to customize, launch and manage organic lead generation campaigns for their SMB customers in local vertical markets. Its patent pending local organic search engine technology is designed to generate targeted, qualified leads by the thousands – leads that actually convert into appointments and sales.
The product emerged from Molin & Du Molin’s incubator after a beta test involving more than 700 dental practices by a subscriber-based dental marketing firm located in the U.S. More than 700 participated, choosing from multiple targeted sub-markets such as braces, dentures, etc. The statement said LeadFire produced more than 60,000 verified dental appointment leads, with cost-per-lead lower than paid search (PPC).
The financial model is based on licensing the technology to a limited number of lead aggregation companies that have a need for high-volume leads in different B2C vertical markets such as health care, financial services, insurance, building trades, real estate, etc.