Signpost Grabs $3.75M in Funding, Hires from AOL, and Moves into New Office

5/1/12Follow @jpruth

New York–startup Signpost says today it closed a $3.75 million Series A funding round led by Spark Capital. Signpost, an advertising platform that helps small merchants get their deals published online, previously raised more than $1 million. Its backers include Google Ventures and angel investors.

Signpost isn’t just another Groupon. The company serves as a marketing middleman between small retailers and more than 1,200 Web publishers such as Yellow Pages, AOL, and Patch. Retailers pay Signpost about $99 a month for the service.

Stuart Wall, Signpost’s CEO and founder, says the new funding will help his company scale up its business model. He expects the company to reach profitability under this funding round. It also gave Signpost the resources to hire Christopher DePatria, senior director of sales for AOL Local, to lead its sales force as vice president of revenue. Prior to AOL Local, DePatria was area sales manager for ad network Yodle in New York and was director of sales at Yahoo.

In addition to hiring DePatria, on Monday Signpost moved into its new home: a 4,000-square-foot office within a former chocolate factory in the SoHo neighborhood. Signpost previously occupied an office with less than 1,000 square feet of space, according to Wall. “This is our first real office,” he says.

The new digs are expected to fill in fast. The company plans to hire some 25 new sales and marketing personnel.

João-Pierre S. Ruth is the editor of Xconomy New York. He can be reached at jpruth@xconomy.com and followed on Twitter @jpruth. Follow @jpruth

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    WARNING!

    Anyone thinking of employing Sign Post for help advertising should beware. The sales representatives/customer service team ran me around in circles when I tried to cancel and terminate their services. Besides the fact that they completely failed to bring me any new clients (not bringing me even one new client a month), they offered inaccurate and contradictory information on the cancellation procedures. In May 2014, a month prior to the end of my 3 month agreement, I called their customer service department telling them I’d like to end all services at the end of the 3 months. A representative informed me that she could help me with this and that the service will be terminated at the end of the 3 month agreement. On June 8th, 2014, two days after my 3 month agreement ended, I noted a new charge of $375 on my credit card statement from Sign post. I called them immediately to inquire about this new charge and the representative this time informed me that I had been charged a new 3 month service fee. When I told her that I had called in May to cancel all services, she said she had no record of this transaction and that I am now responsible for the new charge.