Moscow Times 2 August 2012
Venture investment firm iTech Capital has placed $10 million into SeoPult, a company offering Internet marketing tools to small online businesses, to assist the startup’s expansion in Europe and Southeast Asia.
The venture round, which is Moscow-based SeoPult’s first outside funding since its launch in 2008, also will be used to bolster product development in contextual, targeted and social media advertising, SeoPult co-founder Igor Artemenko said.
The startup, which is profitable and has paid quarterly dividends to shareholders since 2009, has about 70,000 individual paying customers, plus customers using free web tools, he said in a telephone interview. Overall, about 200,000 websites for small and medium-sized businesses in Russia, Ukraine, Belarus, Kazakhstan, and Poland use SeoPult services, according to Artemenko and iTech Capital.