Redbeacon, a San Mateo, CA-based operator of an online service that allows consumers to receive price quotes and book appointments for virtually any local service, has completed a $7.4m Series A round of financing.
Investors include Mayfield Fund and Venrock.
In conjunction with the funding, Raj Kapoor, Managing Director at Mayfield, and Brian Ascher, General Partner at Venrock, will join the company’s board.
The new capital will allow Redbeacon to scale up its engineering and marketing teams as the company prepares for its geographic expansion beyond the pilot San Francisco Bay Area market.
The funds will also be used to support distribution partnerships in which the service is embedded into the websites of partners who want to offer local services to their own customers.
Created by three seasoned Internet veterans from Google, Ethan Anderson, Yaron Binur and Aaron Lee, Redbeacon connects consumers to the best local service professionals to handle their job or project. The product allows consumers to receive actual price quotes and book their appointments online with local service providers.
FinSMEs
06/08/2010