The company, which develops online marketing software, plans to use the money to sell and promote its newest products.
Moz, a Seattle marketing-software company, has inked another round of funding, bringing its total financing to $29.1 million in its 13th year.
The company, formerly known as SEOmoz, announced Tuesday that it had raised a $10 million series C financing round entirely from an existing investor, Foundry Group.
Moz CEO Sarah Bird said the final funding conversation took only about five minutes on the phone with Foundry managing director Brad Feld because the two agree so closely on the company’s plans.
“They want to build something long term and so do I,” Bird said. “I get no pressure for a short-term exit and quick payoff.”
Most Read Business Stories
- Two WA cities among ‘most popular’ U.S. housing markets, Zillow report says
- Google Maps workers in WA say they can’t afford the trip back to the office
- Boeing gears up to renew its safety culture after 737 MAX crashes
- Here are the investors putting $1 billion into Trump Media
- This company was just sold for $3 billion, and hundreds of employees are getting a cut. Some will get $800,000
The company, founded in 2004, provides online marketing tools to its customers. It plans to use the funds to sell and promote its newest products, which include a software system for physical businesses to develop an online presence.
Moz had an admittedly tough 2013 and 2014 as it was reworking its core products.
“We struggled through a brutal product launch and a bunch of scaling challenges,” Bird wrote in a blog post Tuesday. “We made mistakes large and small, a few of which we’re still working to resolve.”
Moz had been adding features onto its core search-engine optimization software before it realized that customers were getting overwhelmed. The company spent the last year and half building out different products that appeal to different sizes and types of businesses.
Bird wrote about the funding round and what’s next in a post on the Moz website with several references to the fictional NBC executive Jack Donaghy from the show “30 Rock.”
She noted that Moz raised the funds at a $120 million valuation and brought in about $38 million in revenue during 2015.
With the latest round, Foundry’s Feld will be stepping down from the Moz board and Foundry managing director Seth Levine will become a member.
Moz has about 200 employees and plans to continue hiring this year, including a vice president of core technology.