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Advice Interactive Group Inks First Funding Round

2014-11-10
DALLAS, TX, Rapidly growing SAAS based reporting and local listing management service, announced today that it has raised its first round of funding.
Advice Interactive Group, LLC, provider of Local Site Submit (http://www.localsitesubmit.com/), a rapidly growing SAAS based reporting and local listing management service, announced today that it has raised its first round of funding led by Cypress Growth Capital, LLC in conjunction with Silicon Valley Bank (SVB). The financing will be used to accelerate the growth of their Local Search Technologies and Local Business Listings Management services and to accelerate the white labeled SAAS dashboard development to meet reseller demand.

'We are excited to have partners like Cypress Growth Capital and SVB to help us grow our technology business,' said Bernadette Coleman, CEO and co-founder of Advice. 'Our goal is to offer the best one stop local search solution for Large Brands, Agencies and SMBs. We plan to use the funding to aggressively grow the company and the technology so we can continue to provide the best local solution available for everyone.'

'We have been very impressed with the Advice Interactive team, their contributions to the local community, and especially the business that they've built here in Dallas,' said Barton Goodwin, Managing Director and Co-Founder at Cypress. 'We are very excited to provide capital that will help fuel their future growth plans.'

'With added financing comes the flexibility a fast-growing company like Advice Interactive needs to develop its technology and pursue its ambitious goals,' added Brian Brown, Managing Director of Silicon Valley Bank in Dallas.

Local Site Submit offers several key technologies as well as a white labeled solution for Agencies. Our suite of Local Search Tools offers visibility reporting, directory listing management, local business profile optimization, simplified submission processes and lead generation widgets to help our partners increase their revenue and to help businesses rank higher in the local search results.

Local Site Submit was launched by Advice Interactive Group in 2011 and today they are signing on over 250 new businesses a day through their reseller partners which include National Brands, Hosting Companies, Internet Yellow Pages, and other independent digital and SEO agencies that provide services to over thousands of local small and medium-sized businesses (SMBs).

Mrs. Coleman adds, 'We are confident that Local Site Submit will become the go to leader in local. Our company has the potential to help everyone in local search. Local directory management is very challenging, and the technology we have developed is a significant step toward a better solution.'

About Cypress Growth Capital

Cypress Growth Capital is the first, largest and most active royalty-based growth capital firm in the United States. An alternative to traditional debt and equity instruments, royalty-based growth capital offers entrepreneurs access to significant funding while preserving equity and control. Cypress invests $1 million to $5 million in software and technology-enabled business services companies located in the Southwest with annual revenues between $3M and $20M. With available capital, a proven track record of fourteen successful royalty-based investments, and an investment team that has extensive entrepreneurial and operating experience, Cypress Growth Capital is a proven and valued funding partner. www.cypressgrowthcapital.com/

About Silicon Valley Bank

Banking the world's most innovative companies and exclusive wineries, SVB offers diverse financial services, knowledge, global networks, and world class service to increase our clients' probability of success. With more than $33 billion in assets and more than 1,700 employees, we provide commercial, international and private banking through our locations around the world. Forbes Magazine ranks us among America's Best Banks and Fortune named SVB one of the best places to work. (Nasdaq: SIVB) www.svb.com.

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System.

About Advice Interactive Group

Advice Interactive Group is an award winning Digital Agency and Local Search Technology Company focused on improving local visibility across the digital universe through it's local brand, Local Site Submit. Recognized as one of the fastest-growing interactive agencies in the U.S. by Inc. 500 (2012, 2013 and 2014), Advice Interactive built its reputation through successful partnerships with top brands. The agency excels with proprietary local search technologies and strategies delivered by a handpicked team of experienced digital professionals. For more information, visit http://www.adviceinteractivegroup.com or http://www.localsitesubmit.com.
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