Wednesday, January 27, 2010

Yelp Gets $25M From Elevation

San Francisco-based Yelp reported Wednesday afternoon that Elevation Partners has agreed to make a $25M investment in the firm, in a Series E investment round. In addition to the investment, Yelp said that Elevation will look to increase its total investment in the firm to $100M, though purchases of shares from vested employees and other shareholders. The firm said it would use the funding to accelerate growth in Canada and Western Europe, for development of mobile applications, and for the U.S. market. Marc Bodnick of Elevation joins the firm's board as part of the funding. More information »