eLocal plans to expand national reach with $25M growth capital infusion

The deal brings three of Ring Router’s senior staff into eLocal’s team in Conshohocken and enable it to enter the pay-per-lead insurance advertising market. Seen here are eLocal owners Bruce and Any Aronow. (MONTCO.today file photo)

Conshohocken-based eLocal has secured $25 million in growth capital to ramp up operations after years of continuously rising revenues.

CEO Bruce Aronow told the Philadelphia Business Journal that the funding from Philadelphia-based private equity firm LLR Partners will help the performance-driven advertising platform grow its business categories and staff both organically and through potential acquisitions, writes Michelle Caffrey for Philadelphia Business Journal. 

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Unlike other advertising platforms, eLocal only charges customers when a customer’s listing on the site drives calls to their business. Its customer base ranges from self-employed plumbers to national brands, Aronow said, but they’re especially active in the home services and legal sectors.

The growth capital will help eLocal, which employs just under 50, scale within those verticals and expand into new ones. Aronow said the company, which already has a national focus, also plans to extend its geographic reach.

“It’s really just doing more of what we’re doing,” he said.

Based on eLocal’s own performance in recent years, what they’ve been doing is working.

Given the company’s strong numbers, there were opportunities to secure capital from outside of the region — which most businesses in the region raising money wind up doing, according to a recent report from Pitchbook and PACT — but Aronow said staying local with LLR was the best choice.

The deal with eLocal is LLR’s third local deal of the year after it acquired Malvern-based asset protection company 3SI Security Systems in June and bought a minority stake in Professional Capital Services, an independent financial services platform focused on retirement plans based in Philadelphia, in October.

To read the complete story click here. 

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