Zvents said the proceeds will be used to “expand the reach of its local listings advertising network, which enables both local businesses and national chains to promote their locations with search-targeted events such as sales and weekly specials”. Zvents will also further invest in expanding the deployment of its local search platform.
The technology focuses on events such as store sales, dining specials, sporting events and concerts, and lets local businesses advertise along those events.
The San Mateo, California-based company, currently employs around 55 people. Its advertising network includes more than 250 media, advertising and mobile device partners. They include Viacom's mtvU campus guides online network, AT&T’s YELLOWPAGES.COM and Microsoft Corp's MSN CityGuides, as well as U.S. newspaper publishers McClatchy Co and the New York Times Co.